The Recession and Layoffs Thread

[PrettySquareGal]

This is definitely NOT a good sign:

"Due to budgetary constraints, the Economic Indicators service (http://www.economicindicators.gov) will be discontinued effective March 1, 2008."

 

[Patrick Murtha]

This is definitely NOT a good sign:

"Due to budgetary constraints, the Economic Indicators service (http://www.economicindicators.gov) will be discontinued effective March 1, 2008."

That is too hilarious!! Great catch.

 

[Flivver]

Did they say why things will start to improve? I'd be curious to know.

I believe they're hoping that a combination of lower interest rates, getting the home mortgage situation under control and the $600 per taxpayer checks from the government will start the turnaround. We'll see!

 

[Paisley]

Accounting

Years ago, my apartment manager told me that in the 1930s, her father was a CPA and drove a new Mercedes. He was never out of work: people cannot put off doing audits and taxes.

I decided years ago to get out of the crappy field of engineering and into something where I would consistently make money. I've been working for a CPA firm for five years now as a word processor. Oh, and we're hiring. If you're looking for work, think about temping at an accounting office.

 

[Twitch]

However they spin the statistics as to percentages this or that way I maintain that a substantial number of people on unemployment roles that are removed are assumed to be working again when in fact they have simply past the 6 months of benefits. They are still unempolyed but when they say "X number of people were taken off the unemployment roles" it doesn't mean they were all back to work.

 

[PrettySquareGal]

However they spin the statistics as to percentages this or that way I maintain that a substantial number of people on unemployment roles that are removed are assumed to be working again when in fact they have simply past the 6 months of benefits. They are still unempolyed but when they say "X number of people were taken off the unemployment roles" it doesn't mean they were all back to work.

Yes. Or underemployed, half-employed...

 

[Paisley]

However, I've often heard people say, "My friend found a job just as her unemployment benefits were about to run out."

 

[PrettySquareGal]

However, I've often heard people say, "My friend found a job just as her unemployment benefits were about to run out."

I've always done well with the my-rear-is-on-fire motivational approach. There was a time when I was able to collect unemployment but chose not to and ended up making more money freelancing.

 

[Decodence]

Business has never been better for me. Just got a large raise and even bigger bonus. I have never been a victim of a recession over my working life. Only gripe about the economy I have right now is the inflation eroding wages. Costs on everything are really high right now. Heck, my grocery bill is more than my mortgage some months.

 

[PrettySquareGal]

Business has never been better for me. Just got a large raise and even bigger bonus. I have never been a victim of a recession over my working life. Only gripe about the economy I have right now is the inflation eroding wages. Costs on everything are really high right now. Heck, my grocery bill is more than my mortgage some months.

But as you explain, your raise and bonus is now worth a lot less because of the economy. None of us live in an economic bubble. But of course, some businesses/people will weather things better than others.

 

[jgilbert]

I have been very lucky over my 30+ years of working. I have been only out of work for about a yr and that was due to the fact I did not like working for the manager. So I took a yr off and got to play.

Now with the kids out of college and on their own, I am able to plan for the next rainy day. Or my first gandchild!

The only thing I can tell all your younger folks is watch your debt!

 

[Miss 1929]

This is definitely NOT a good sign:

"Due to budgetary constraints, the Economic Indicators service (http://www.economicindicators.gov) will be discontinued effective March 1, 2008."

Sweep it under the rug, no one will see it!!!

 

[PrettySquareGal]

Sweep it under the rug, no one will see it!!!

shakeshead agreed

 

[Foofoogal]

Saw on the news the other night that anything in the medical field is recession proof. Just makes everyone sicker I guess.

Most definitely payday loans should be banned and also credit cards like Walmart. I think they charge something like 32% interest. Hello.............

http://www.ftc.gov/bcp/conline/pubs/alerts/pdayalrt.shtm

391% interest on payday loans. Ouch...........Mercy. Special hell for people like this IMHO.
Desperate people do desperate things.

Along vintage lines people also lived simpler lives so not much talk about economy. Taught to be content with station in life mostly.

 

[Paisley]

A lot of people back in the good old days just suffered.

 

[jgilbert]

This is definitely NOT a good sign:

"Due to budgetary constraints, the Economic Indicators service (http://www.economicindicators.gov) will be discontinued effective March 1, 2008."

This really no big deal. And I wish we would close more of the Government.
The indicators themselves will still be calculated, and published. You'll just have to go to the original source (like BEA) to find them. This site was just a "front end" to make it a little easier to find them.

 

[Decodence]

Saw on the news the other night that anything in the medical field is recession proof. .

Well, speaking from my situation in the medical field, I need more employees, but have had significant trouble finding them with the appropriate skill levels necessary.

I don't know about recession proof as far as stock prices though. We are down almost 20% since the 1st of the year.

 

[Patrick Murtha]

I don't know about recession proof as far as stock prices though. We are down almost 20% since the 1st of the year.

I don't think anyone with a real notion of economic history (which does not begin in 1980) would ever call anything "recession-proof." The concept makes no sense.

 

[Chas]

That reminds of a line from The Sopranos

James Gandolfini: "And I don't wanna hear about the f***in' economy, either. I don't wanna hear it!... Sil, break it down for 'em. Which two businesses have traditionally been recession-proof since time immemorial?"

Steven Van Zandt: "Certain aspects of show business and our thing."

Gandolfini: "Now, that's it. That's all I got to say... Frankly I'm depressed and ashamed."

 

[Paisley]

This is true. If I were in desperate straits, I'd stop buying my prescription medication and eat baking soda like candy. My mother needs about a month in a physical rehabilitation center. If we couldn't afford it once the insurance runs out, she'd simply have to come home, even though she can't do much for herself.

However, I've read that on average, recessions last for about 10 months. So in my hypothetical situation, after 10 months and a few ulcers, I could go back to paying outrageous prices for my medicine.