Well I've been doing this blog for 6 months now, or at least close enough to 6 months so happy anniversary to me.
Let's review what I have done in 6 months .....
Job Interviews - 5
Jobs - 2 (see Car Salesman Entry)
Currently - working part time with no benefits for $10 an hour overnights, barely making my mortgage, car payment and insurance, selling stuff to help pay for the aforementioned, does anyone need a Wii? Why I didn't land those other jobs? Well I wish I knew, just got the whole, we are moving forward with other candidates with more experience, and that could be entirely true, it's still a buyers market out there, if I have 6 years of experience in something there is probably 3 guys with 10-15 years experience in that same area.
Still looking for that next career move, still hitting the job sites, the social networking avenue and all that good stuff.
So now that we got all that stuff out of the way, let's talk about the recession.
According to National Bureau of Economic Research or Idiots for short, the recession is over and it's been over for about a year, I am not sure what they are smoking but OK let's run with this.
Their factors are GDP, UNEMPLOYMENT and personal income figures and probably the fact that the government hasn't had to bail a company or a whole industry out for a few months now. And they are correct, unemployment has lowered in the last few months albeit at a snails pace, and we are talking tenths of a percent, and GDP has gone up, again slightly. Domestic output is up, rail and trucking is up, and it's all good.
Now let's get into the nuts and bolts here, yes many factors are up, but big companies are just doing more with less workers and bleeding their people for all of they are worth, how many of us know someone who is actually happy with what they are doing? I know of one, maybe two tops out of the hundreds of people I know. Companies have stopped paying bonuses and giving raises and if you don't like it you can leave because they have a hundred people lined up to do your job. Sure some companies are hiring, but they are hiring on a "temp to hire" basis or "part time" even if you work 40 hours that's how they get away without paying you benefits, trust me it's out there.
At one of my job interviews, the HR rep told me they had over a 100 applications for this position, I was honored just to get an interview. That's 100 people either not happy with what they are doing now or unemployed .... so there.
I read in the local paper this weekend that all of these companies are hoarding their cash, Best Buy my lovely past employer apparently has 845 million bucks in the bank, yet they've laid off thousands of people in the past few years, I am not sure what they plan on doing with that money, I can probably find out :0)
An interesting excerpt from Sunday's Star Tribune "Holding on to their money" article ....
- Minnesota's Roughly 100 significant public companies are sitting on $139 Billion in cash.....that's enough to pay more than 772,000 Minnesotans $60,000 a year for 3 years.
Currently the unemployment rate in MN is 7% according to Bureau of Labor, and that equates to about 370,000 people unemployed, makes the above number look even more interesting doesn't it?
PS - the new employment numbers come out tomorrow, so we shall see if the stock market reacts favorable or negatively to those numbers, and if the idiots still think the recession is over.
On the housing front, foreclosures are ugly, homelessness and child homelessness in MN is alarming, folks who have jobs but can't afford their mortgages as at an alarming rate.
The new census data that came out today*
- Of households that earn 75,000 a year or less, 48% of them are what are considered "cost burdened" meaning they can't really afford their house, and paying more than 30% of their wage monthly to live where they are (mortgage, insurance, utilities, rent, etc).
*America Community Service Data
Wow, almost HALF of Minnesotans, yikes! And I'd kill to make 75K right now ... no don't send me hit man contracts ... that's was a figure of speech.
Last quarter there were 6,300 foreclosures in Minnesota, according the Sheriff's offices, that's one quarter and that's just in Minnesota.
Should we even go into education? I think "Waiting for Superman" is taking care of that for me thank you.
I know someone who is a teacher, a single mother, getting barely any child support, who just had to quit her job because she didn't even make enough money to pay for day care, wow, maybe I'm glad I don't have kids.
I hate to post the doom and gloom here, but when I hear idiots who obviously have jobs on TV saying the recession is over, I'd like to personally invite them into my life for a week or two.
OK, enough venting for one day, but can you really say the recession is over, or depression if you ask me.
Recession over? HARDLY.