Author Topic: Recession 2019/2020 Mega-thread (putteth all thy strange eruption in h're)  (Read 40537 times)

rcjordan

  • I'm consulting the authorities on the subject
  • Global Moderator
  • Hero Member
  • *****
  • Posts: 8791
  • Debbie says...
    • View Profile
Re: Recession 2019/2020 Mega-thread (putteth all thy strange eruption in h're)
« Reply #240 on: January 09, 2020, 03:07:43 PM »
More than 1,700 stores are closing in 2020 as the retail apocalypse drags on. Here's the full list.
https://www.businessinsider.com/stores-closing-in-2020-list-2020-1

Mackin USA

  • Inner Core
  • Hero Member
  • *
  • Posts: 2695
  • Abstract Artist
    • View Profile
Re: Recession 2019/2020 Mega-thread (putteth all thy strange eruption in h're)
« Reply #241 on: January 09, 2020, 03:24:00 PM »
Store closings are a reflection of the change in consumer buying habits.

Do they effect the GDP is the question when it comes to recession.
Mr. Mackin

rcjordan

  • I'm consulting the authorities on the subject
  • Global Moderator
  • Hero Member
  • *****
  • Posts: 8791
  • Debbie says...
    • View Profile

littleman

  • Administrator
  • Hero Member
  • *****
  • Posts: 4689
    • View Profile
Re: Recession 2019/2020 Mega-thread (putteth all thy strange eruption in h're)
« Reply #243 on: January 11, 2020, 10:40:08 PM »
Quote
The manufacturing recession underway shows up in the employment numbers: The nation’s factories shed 12,000 jobs in December, with the steepest loss in the making of fabricated metal products. A further 8,000 jobs were lost in the mining sector, reflecting a slump in spending on energy exploration. Transportation and warehousing employment fell by 10,400, another potential knock-on effect of the manufacturing slump.

This story is not too complicated: The sectors that bear the brunt of the global economic slowdown and the trade wars are cutting jobs, or at least they were in December.


Lots of low level service job growth, but I'd like to see a map of where those jobs are.  I have a suspicion that the places hit the most from the decline in skilled labor jobs aren't opening too many Starbucks.

littleman

  • Administrator
  • Hero Member
  • *****
  • Posts: 4689
    • View Profile
Re: Recession 2019/2020 Mega-thread (putteth all thy strange eruption in h're)
« Reply #244 on: January 12, 2020, 09:20:17 PM »
More on the topic.

Quote
In a recent analysis, we found that 53 million workers ages 18 to 64—or 44% of all workers—earn barely enough to live on. Their median earnings are $10.22 per hour, and about $18,000 per year. These low-wage workers are concentrated in a relatively small number of occupations, including retail sales, cooks, food and beverage servers, janitors and housekeepers, personal care and service workers (such as child care workers and patient care assistants), and various administrative positions.

https://www.brookings.edu/blog/the-avenue/2020/01/08/low-unemployment-isnt-worth-much-if-the-jobs-barely-pay/

ergophobe

  • Inner Core
  • Hero Member
  • *
  • Posts: 5212
    • View Profile
Re: Recession 2019/2020 Mega-thread (putteth all thy strange eruption in h're)
« Reply #245 on: January 13, 2020, 04:12:11 AM »
>> 44% of all workers—earn barely enough to live on

That is a damning statistic for one of the richest societies in the history of the world.

Mackin USA

  • Inner Core
  • Hero Member
  • *
  • Posts: 2695
  • Abstract Artist
    • View Profile
Mr. Mackin

Drastic

  • Need a bigger hammer...
  • Global Moderator
  • Hero Member
  • *****
  • Posts: 2652
  • Resident Redneck
    • View Profile
Re: Recession 2019/2020 Mega-thread (putteth all thy strange eruption in h're)
« Reply #247 on: January 13, 2020, 01:37:51 PM »
I've been saying this for years, commercial properties are not an asset, they are a liability.

Care to expound this a bit?

littleman

  • Administrator
  • Hero Member
  • *****
  • Posts: 4689
    • View Profile
Re: Recession 2019/2020 Mega-thread (putteth all thy strange eruption in h're)
« Reply #248 on: January 14, 2020, 06:33:55 PM »
I hope he chimes in, but I am going to guess.   When the economy tanks people still need a place to live but stores/businesses close down and the property owner is stuck paying the mortgage/insurance/taxes on an empty building.

During the last recessions when there were tons of empty buildings rents were actually going up in some parts as people lost their homes and put upwards pressure on rentals.