How are things going with your economy and all that?
I know that the unemployement rate is still high, but are things getting better?
Posted Aug 18, 2009, 7:44 PM UTC
I know that the unemployement rate is still high, but are things getting better?
Posted Aug 18, 2009, 7:44 PM UTC
things are pretty much the same. plenty of people losing their jobs, and plenty of mortgages going bad, bankrupt states and insolvent banks. Mostly unskilled workers are feeling the brunt of the recession. unemployment has been extended twice, and it'll probably be extended a third time too, so we're still not seeing the effects yet. But people are still dropping off the stats since they've been unemployed so long they're magically counted as no longer being part of the workforce, so unemployment looks like it's getting better when it's not. this is called a "jobless recovery". it'll be like this for a very long time, and the more gullible among us will think the worst has passed when the main effects are still years away. in the meantime look forward to hearing about more bailouts, stimulus packages, and government subsidized industries that are "too big to fail"
I got laid off two years ago from PHP work because of all the crazy outsourcing and the tight economy. The wife was doing well at her job, kids loved the neighborhood and school, but there are absolutely no decent paying information technology jobs here anymore. Everything has moved offshore. The ones that remain completely suck for various reasons. So I'm stuck with freelancing.
My earnings as a college student with an engineering internship have never been higher. And my meager investments I made into the S&P have worked out very well in the last ~5 months. My wife got a raise too! Not feeling this "bad economy" vibe at all.