Sunday, May 31, 2009

20% Unemployed

Update: In addition to being underemployed, the government would also like me to be underpaid as well. When are the Iranians nuking Washington and how much will I owe them?

Earlier this year one of our manufacturing operations went to unpaid Fridays and a few months later our other operation went the same way. The fact that both places have retained their staff is a testament to the horrid economy. Even with all that it's going to take maximum effort for the place I work for to break even this year so they've sentenced the corporate offices where I work to unpaid Fridays as well.

Currently, it's only set for the next two months with the expectation that business might pick up later in the year. Fortunately I can use my vacation days to lessen the damage to a 10% pay cut for the moment, but especially since there's no way business will pick up and may in fact get worse.

I know of a few other people in the same situation and stories like this back up the idea that the economy is taking something on the order of a 20% hit and that the GDP numbers of a 1.5% decrease a quarter being released by the government are just feel good wackery. The unemployment numbers (corrupted under Clinton) and the inflation numbers (which don't take such items as housing and fuel into account!) are already untrustworthy so it wouldn't surprise if the GDP number isn't as well, particularly if it's partially based off of the other two.

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