Tuesday, June 23, 2009

An Economic Recession Like None I've Seen Before....

In my 49 years, I've experienced a few recessions. In 1990 I was laid off for almost 18 months. Job searching proved futile. Nobody was hiring, unemployment was rising as were the number of people on the welfare rolls here in Ontario. In the early 2000's another recession hit, albeit a smaller one than in the past. I survived this one with some down weeks at work but no long term layoffs. I know people who also struggled at this time to find an employment opportunity.

Flash forward to today. I see daily in the media that this is an economic recession like no other. Well, I have to agree. Unemployment is at 8.4%, still relatively low during a global recession. This in no way is meant to disrespect those who have lost their jobs due to the current economic conditions, but I have noticed something different this time around. There are jobs out there. Quite a few actually. Those who follow my blog know that I started a new position a little over a week ago, after completing a college course in April. Of the 26 fellow students in my class, all but two have started full-time jobs with promising futures.

But what has really struck me this time is the fact the job market is quite resilient right now. The manufacturing sector has taken a major hit, particularly in Ontario and Quebec. Some of this is obviously related to the current recession. But the fact is manufacturing really started to bleed jobs beginning in 2002, long before the financial meltdown in the U.S. And for all the doom and gloom I see reported daily, since starting my new job a week ago Monday, I have had four more job offers come my way. All good jobs, decent pay and benefits.

Which is why I say an economic recession like none I've seen before.


Frances said...

Interesting. My husband & I were discussing our situation, as it looks as if there will be job reductions at his workplace. But we remember the first go-round in '82 where his department disappeared and he was one of the lucky few who was transferred out. And we remembered the multi-layoffs for the next 12 years. I can't remember how many times my husband escaped, but it was five or six over a dozen years. Now, it's becoming 'if you pay me, I'll go', but he still is trying to sort out what to do afterwards, as my attitude is 'I married you for better or for worse, but not for lunch'.

Anonymous said...

Happy to hear of your good fortune Paul.
Here in the Niagara Peninsula we have somewhat of a building boom going on. Not only are there jobs available in the tourism industry but also in construction. Projects include a four-rink arena, a third hydro tunnel under the city, a 280,000 sq ft convention centre (they're already booking huge winter conventions) and the tallest Hilton Hotel in North America.
Infrastructure money is also rolling in with four major projects being announced for Niagara Falls.
All of these projects will result in hundreds, if not thousands, of full and part time jobs and millions of dollars annually for our local economy resulting in even more jobs.
I was driving around today, enjoying the third of six days off, and was struck by the number of backhoes and partial road blockages I came across. It would seem that many homeowners are taking advantage of the tax savings and getting some major work done around the house.
All thanks to the Harper government.

paulsstuff said...

"as my attitude is 'I married you for better or for worse, but not for lunch'."

I was in the same situation. Could have stayed but was paid to go. Took advantage of a retraining program, did a college course, and now have many job prospects offered. The one I took is working out quite well. Close to home, lots of hours, and a thriving business.

Good luck to you and your hubby in however things turn out.

NeilD, I have a friend in Niagra. He told me last week that there is a mini-boom going on there. That's great news. Such a beautiful area as well. Cheers.

Jen said...

Paul, when alberta was booming and begging for workers; a journalist in toronto asked a fellow in his 30s,and unemployed " Alberta is booming many jobs there to be taken why don't you go there to find work."

His response which I think may not surprise you " why should I, I have everything I want here, whenever I hungry I go to the food kitchen when I need clothes I go the salvation army when I am sick I go to the 'walk in clinic' so why should I find work when I have everything at my fingertips.

Infrastructure is booming everywhere, that's bad news for the opposition parties and their media.

Paul, when one is seriously ill it takes him/her a very long time to fully recover- the same with the economy jobs are there but not in abundance like before.
Unfortunately canadians are like children, whine when things don't go their way.And threaten governments if jobs are not there.
Futhermore, if I had a business, I most definitely not put it in Quebec or Maritimes or Toronto-taxes are too high for me.

Anonymous said...

My husband works for an auto parts manufacturer in Ontario and this week they've begun to call back workers. Thirty this week.

Also first time in over a year and a half that they've had orders from Chrysler.

I've noticed that even companies that are doing ok are using the "worst recession in years" to streamline...not that they have to but it gives those companies a reason to cut employees...that maybe they don't need to cut, but are doing so anyway because, "it's the worst recession in years."

O/T - Paul have you been over to Calgary Grits and read how Iggy's going to be hosting a pancake breakfast at the Calgary Stampede...but it's going to be at the zoo. Not the place where the other dignitaries will be I take it.

Bank Rates said...

No doubt at all, that current economic recession is the worst in past several decades. This ongoing recession has effected almost all nations and individuals.