General chatter - Economy looking up?
Anyone seeing signs that the economy is starting to turn up? There were some recent announcements of noncritical upgrades at work, and it hit me that my employers probably wouldn't be taking these steps if they didn't think things were getting better. They've been fairly ahead of the economic trends.
07-26-2009, 03:25 PM
What industry do you work in Ufi?
07-26-2009, 03:34 PM
Not really, and I'm in Michigan, Jackson county to be specific, and our unemployment rate is at 15.5% in my county. So thats probably why! I read an article this week, that when they factor all the under/un employed people in MI, it puts us at over 19% and just under a million people.
So.. :rofl: no at least not where I live.
07-26-2009, 03:54 PM
Another Michigander here reporting that I'm not seeing any positive economic signs. Our school district is cutting back yet again (after two rounds of cuts & pink slips since May).
Local industries are continuing to lay off as well.
I'm just thankful that I'm an experienced old chickie with seniority so it is unlikely that my job will be cut!
So much pain and uncertainty here right now!
07-26-2009, 04:20 PM
I hope the economy is improving, but I've seen no signs of it. My house has lost 35,000 dollars of value in the last two years and the prices in my neighborhood seen to keep going down. We had planned to build this year, but now our plans are on hold until house prices recover (probably TEN YEARS) grrrrr...
My employer has canceled raises this year and I'm always a little worried that there will be more layoffs. We are paying off debt and saving like crazy just in case.
I put us on a budget (even for groceries!) and things are going well, so I think we'll keep our new practices, even if the economy does recover. I don't think I'll ever spend like I once did again.
07-26-2009, 04:33 PM
I bought my first house last month and managed to find a (great) job in Feb when people were hysterical about unemployment.
....so yeah, I think the economy is looking up. (this is just from my personal standpoint) I also live in a state (CO) that is predicted to be one of the first to break out of the recession. Our housing market is rebounding nicely (from having one of the worst foreclosure rates in the state) and our unemployment isn't as bad as it is elsewhere. We are also at the forefront of the renewable energy race and LEED stuff.
I'm sure a lot of it has to do with where you are in life as well as geographically. As a recent college grad, my job search was tedious, but I never expected to land a high paying job right off the bat as I hear other recent grads complain about. Yes, it's very rough out there, but there are jobs with a lot of work and a little luck.
I will say that we were not opposed to moving to another state if my search had continued much longer. We were willing to go wherever the jobs were. I'm glad I found something so awesome right here at home, though. The housing market worked out very well in our favor, too. We weren't necessarily *ready* to buy a house, but the inventory and prices and tax credits made us jump right in.
It's tough for many people, but I think most of us are getting by and respond accordingly to the climate (budgets, etc...)
07-26-2009, 05:04 PM
my husband was laidoff right before x-mas last year and started a new job begining of Feb but it was a 50% pay cut but a job none the less. as far as if the economy is getting better i think (at least in Centeral Wisconsin) it is in a holding pattern. my family and i are of the mind set that we are not going to participate in the recission going on here. we may have to save a little more for something in the past but if it something that we want we will buy it once we have the money.
07-26-2009, 07:09 PM
Here in southern California things are not good for a lot of people. Many are living in homes they haven't paid on in months, hoping for someone to step in....so many that mortgage companies can't keep up. My son knows two couples that have not made a payment in over a year....they know they will lose their homes no matter what....and because of their loans they are now at a payment they can't afford.
The company I work for builds car dealerships. We have 3 big ones going right now but the owners of 3 others we were to start are on hold. We do have some smaller projects going and do have a little work signed after the large projects, but many of our subs are on their last jobs...the ones with us.
My area has cut back 1/3 and I will be cutting back to 1/2 soon...our office is already down to 1/3 of our norm for the last 5 years.
My wife and son are teachers and our state is issuing I.O.U.'s to some already in the government. My daughter is a scientist and relies on grants...so far she is OK.
Many friends have had big pay cuts and have had to get 2nd jobs to keep up.
Our day care and school at church have lost students. Moms/dads back home and kids back in the public system to save some money.
Personally, I think we are still heading south in a lot of ways. I don't expect good times for all to come back anytime soon....or ever really.
When, as people, we buy more than we can really afford to pay off, when we buy with $$$$ that is only on paper and find out that "paper" was monopoly money then the empire was eventually going to fall.
We are still falling....IMHO....
which is a bummer for a lot of folks.
07-26-2009, 10:10 PM
I don't see any signs of things getting better here in Northern Indiana. Our area is really dependent on the auto industry still. We still have our jobs and house but its getting harder to keep up with rising food and utility costs. Teens have been having a tough time getting first jobs this year, I haven't seen that since I was a teen in the early 80's. Housing prices were never inflated here so not much drop in prices now.
My husband works for the US Postal Service, things are definitely going to change soon there. He has alot of seniority so that will help, but I am concerned for the younger folks who are just starting out. I work for the local school system as a bus driver and that is secure for this year. Who knows what the future will bring.
I am really afraid for my kids at this point. College is becoming out of reach for all but the very rich or poor. We cannot save anything because every time we have any extra money, something always happens. And when they get to college, what exactly should they study hard for and then watch that field become the next outsourced wave of jobs. I hope America wakes up before its too late.................