Word on the street is that the worst of the recession is over. Federal Reserve Chairman Ben Bernanke declared as much in mid-September, and the economy actually grew instead of shrinking in the third quarter of this year. So, in theory, things should be on the upswing.
But firsthand experience tells us maybe not so much. Consumer spending is down over last year as we all try to keep our holiday spending in check, and there hasn’t been much new job creation.
In fact, I’m still hearing stories from friends, state employees in particular, who are experiencing layoffs, pay cuts, and involuntary furloughs. What has your personal experience been?
Source: Getty
Triumph
Let's see...people are still being laid off and furloughed, even in industries that are normally safer like public education. The housing market actually seems to be getting worse where I live instead of better. The houses in my neighborhood are literally selling for $150K less than they were just three years ago. The number of people dining out has declined so significantly that one of our favorite restaurants just closed last month. I would say no, things are not getting that much better.
1I dunno, I never felt the recession in the first place, and I still don't feel it, so it's hard to say. My company's doing really well. I got a nice raise this month and am expecting a great bonus next year. We're also hiring a large number of people over the next year.
2I do...That could be because I just got hired on at a great job in July after graduating in May. The company is doing well, I get paid well, etc. I do feel like the economy is better from where it was 6 months ago, but that could be because I am in a better place, personally. Obviously we aren't back to where we were 3 years ago, but it is improving.
3No, I really do not. I'm happy for the posters above who are not being hit by it but the majority of Americans are. There is unemployment in my family (people with experience) and this year the fam has moved to make Christmas gifts rather than buying them. No vacay this year.
4i'm fortunate that i haven't been affected by the recession personally with my career... however, i have seen friends, colleagues and my bf struggling with finding jobs. also, in my industry, there are layoffs happening every other day....
5often times, high unemployment means that the economy is on the rebound.
6My husband's company actually just got 2 huge government contracts and our city added about 200 new jobs, so things are getting better for us locally. The housing market's still in the toilet, but at least it's starting to come back now that banks aren't letting people buy $200K houses when they can only afford one for $60K.
7I keep hearing on the news that the recession is over but personally, I'm not seeing it. My company just announced this morning more pay cuts, second this year and layoffs a few weeks ago.
8I think it's slowly starting to improve, but it will take a long time to get back to how it used to be.
9I sure can't wait to get my normal hours back at work- we were cut back to 7 hours a day instead of 8. It beats being laid off though, that's for sure.
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