The Economy and Where I Work

[JimB]

Well, all I can add is that I've been laid off twice. Both times it was devastating. The blow to the ego and the loss of security is immense. But both times I have ended up better than I was before.
It's hard to see it at the time, but sometimes these sort of things open up possibilities that you would have never seen.

[Woodsheal]

Don't forget that once a persons unemployment benefits are run out, they are dropped from the Gov stats on unemployment. So to go by the 5.5% that the Gov puts out, is really falling short of the true mark.

True, the figure is based upon new unemployment claims. But, that's the way it's always been measured, so the comparison to the 20 year average is valid. Plus, the half-percentage point bump up in May was due to the sudden influx of students into the job market (happens every year). The point is that, although there are regional disparities (Ohio, as mentioned, for example), a 5% national unemplyment figure is hardly cause for despair. It was higher in the '90s...!

[hallmarktex]

I was born back in 1951 and I read a lot - believe me - this isn't bad.

Not until you see bodies falling past the office windows is it bad - and even then, it is only the economy.

The US has cheap petrol and cheap food even now - compared with Britain, where the petrol price seems to have topped out at 118 pence per litre. We actually paid less than that this Thursday, only 1 penny, but it was less.

It might be difficult for a while, it could be difficult from now on - but, if you'll take advice - just do the best you can, take a job even if it is not your dream or ideal - employers seem to favour those in work for some reason.

At one time I went from one job to another fairly fast, simply because I was working but looking for something better all the time. I saw aquaintances who were out of work turned down for one job after another.

I did start cleaning factory kitchens and it was not pleasant, but that was only for a few weeks until I found less messy work. I was always being told to do less, not look for things to strip out and clean - by people who were probably still putting on greasy overalls when I'd got an office job.

At another time I worked a factory job which finished at 16:30, so I took a series of evening jobs when I couldn't pay the bills, and that developed into a fulltime job that paid more than the two jobs combined - you just never know who you will meet up with. You do have to be out there meeting people, though.

Things always change, if you just drift along with them the current will almost always put you on the rocks - you have to steer - and paddle hard at times.

Hear! Hear!

I will only add that of all the kinds of adversity one works through over the course of a lifetime, economic (though by no means easy) isn't the worst.

[attworth]

This life is but a blink of an eye in the great scheme of things.

I am sorry you're going through this. Just remember that 'this too shall pass.'

That saying alone has gotten me through a lot of tribulation. My mother used to say that to me when I was a child.

[OMulla]

This is a hard one...Over the years and more than one career, I have found it hardest to not define myself by what I do, but by who and what I am. The economy will eventually improve or maybe not but lets not loose sight of what is truely important.

[Coemgen]

Today our 'low' standards are pretty high.

True. I have been very blessed. I've been brought up by people who place a high value on education, and who have provided some of the best things and opportunities for myself and my brother and sister. I hope that I can do the same for my children.

The biggest problem is that I and my peers do not know what it is like to live through rough times. We've been insulated.

No longer. We're into a big recession, and it's only going to get worse.

We'll either learn how to deal with it and use hard work instead of credit cards to stay afloat, or end up in the streets.

[Frank McGrath]

I have been doing the same kind of work for 30 years, just with different companies. I took the first job thinking I would find something better. If the downturn affects my employment, I would probably just go to another company. Right now, we have lost 6 techs and are keeping up with the work. But the bar has been raised. Employer expects more and those who can reach the bar stay. I drive anywhere from 50 to 300 miles in one day. I go where I'm sent and don't complain. Several of my coworkers complain about assignments. Some aren't around anymore.
I feel blessed to have a job. And they pay for the gas.

[IrishGodfather]

True. I have been very blessed. I've been brought up by people who place a high value on education, and who have provided some of the best things and opportunities for myself and my brother and sister. I hope that I can do the same for my children.

The biggest problem is that I and my peers do not know what it is like to live through rough times. We've been insulated.

No longer. We're into a big recession, and it's only going to get worse.

We'll either learn how to deal with it and use hard work instead of credit cards to stay afloat, or end up in the streets.

I agree with everything you said there. You are right, we grew up in the 90's, which was one our country's most successful economic periods, so we've never known hardship. My parents have worked hard to make sure I've never had to want for anything, and to make sure I have a good education. I'm attending a top University, and I don't have to pay for it myself, which is something not all people are fortunate enough to have.

I think things will improve, the economy goes through stages, and I think we've hit a rough patch. Americans are hard working and very determined to succeed, and I know America will improve somehow, we always have in the past. I think the future is bright, not only for America, but for Europe, Aisa, etc. b/c the world has it's ups and downs, but the human race always finds a way.

[James MacMillan]

I don't know if I agree with the commonly held nightly news opinion that the economy is in such bad shape. The unemployment rate is hovering around 5 %. That's a good healthy figure. The gas prices are higher than last year, but the traffic on the freeways sure don't point to people driving less. Luxury items are being sold from luxury stores. Durable goods are selling well. If you are willing to work, you can still make a living.

From my point of view, the economic woes appear to be largely invented by the popular media. Or maybe it’s just that I’m not a Doom & Gloom type of person.

It's surely not as bad as it was at times for my parents.

[Pleater]

There have been several programs on the US economy and the situation regarding mortgages and repossessions in the last few days - I listen to BBC radio 4 when I am in the kitchen in the evenings.

One thing that struck me is that the mortgage lenders are behaving just as though each individual case was the only one with a problem. Families or individuals are forced out - and then the mortgage company has the responsibility for securing and safeguarding the property.

One reporter drove through a neighbourhood where the housen was derelict burnt out or gutted, where only a few months ago the place was fully occupied and apparently thriving.

An inquiry to a local estate agent on the price of a house still fairly intact brought the response 'Seven thousand dollars, but we are prepared to be flexible.'

I don't have full information, but if I had any responsibility for the governing of the USA I'd be sending for some of those who are in control of the managing of mortgages and asking for answers to some searching questions.

Wasn't it the selling off of poor quality debt from ill advised lending that started the 'credit crunch' in the first place?

Maybe with a bit more flexibility on the whole issue, and a willingness to look for alternative to repossession there might not have been these 'cold spots' where the financial markets have caused small disasters, closing firms and all the associated businesses, the shops selling to the former employees and then ruining housing districts as the steamroller tactics blunder ever onwards never thinking that they are dragging themselves into the destruction too, like some financial black hole.