Layoffs Slowing Down But Hiring Still Slow

It seems like every day I’m hearing stories about someone getting laid off, doors closing to a business, or people getting their hours cut. Inevitably, these stories end in people searching for weeks, many times months, sometimes a year or more, for jobs to replace the ones they lost. What does this result in?

The erosion of the American dream, the increases in anxiety and depression we are seeing due to joblessness, and the increasing lines at places that are hiring or interviewing on the spot. It’s the same scenario we’ve seen now for over a year, and Alan Greenspan even predicts that unemployment is going to balloon to somewhere around ten percent before companies actually start actively hiring again. It seems that there is a collective anxiety about this as well, as the decrease in consumer spending is almost disproportionately worse than the actual jobs situation.

I know myself, still having a job, and still being somewhat financially secure, am cutting back on spending. Sure, a lot of my extra income besides my nine to five job is drying up because I sell things on the side and people just aren’t buying like they used to, but Thank God I kept my nine to five, even when times looked like I could get rid of it earlier on in 2007, and 2008, because I would have been frantically searching for something now if I hadn’t.

I guess it makes you a lot more grateful for what you have when you see others struggling to make ends meet, and it makes you wish for a swift end to this unemployment issue as well. I think that amongst those of us that have not had to seriously worry about our jobs or have not experienced a layoff yet, we almost feel a bit guilty, at least I know that’s how I feel sometimes, like I’m not feeling the pain others are, but somehow that’s not fair. I also feel incredibly lucky, blessed and grateful that I have a roof over my head, food on the table, and money in the bank (although like many others my savings took a hit).

One thing we have to remember is to always be grateful for what we have, and to never spend frivolously, because this recession has taught us that you should always save for a rainy day, as you never know when the chips might fall against you and you could lose your job or has some sort of pay reduction. I know it certainly has made me even more of a saver, and I don’t think that learned habit will ever change, even after this recession is over.