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Author Topic: Has the downturn in the economy affected you (yet)?  (Read 5910 times)

Offline Debbie

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Has the downturn in the economy affected you (yet)?
« on: January 27, 2008, 10:23:38 PM »
Has the downturn in the economy affected you?  I am in Miami for business and just met with some real estate people (high end projects).  It is scary down here.  There is a large Condo development where 100% of the buyers thus far are from overseas.  The person I met with today is a multi millionaire developer who is running scared!  I figure if he's scared, what's going to happen to us?  Has anyone been affected by this yet?

Offline paratactical

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Re: Has the downturn in the economy affected you (yet)?
« Reply #1 on: January 28, 2008, 08:20:04 AM »
Thankfully, my soulless position at a law firm specializing in corporate bankruptcy will provide job security for the moment.

Offline odenhal

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Re: Has the downturn in the economy affected you (yet)?
« Reply #2 on: January 28, 2008, 09:15:42 AM »
the economic downturn killed my baby
you can not deny this gorgeosness, you can only hope to handle it

Offline Astoria Luv

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Re: Has the downturn in the economy affected you (yet)?
« Reply #3 on: January 28, 2008, 09:19:08 AM »
No, but I can really empathasize with the people it's affecting. 


Offline daisy

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Re: Has the downturn in the economy affected you (yet)?
« Reply #4 on: January 28, 2008, 09:37:32 AM »
I work in the animation industry which is always freelance.  I also work in NYC, which means that the amount of work is a lot lower than say in LA, or in the many countries we (unfortunately) outsource animation to : Canada, Korea, India, etc.  So us artists are pretty used to breaks in employment.  The writer's strike is affecting the entertainment industry in a big way, and that is trickling down to animation deals.  I learned a long time ago to spend wisely, and save wisely, for the inevitable periods of unemployment.  It also means I will have a hard time buying a place to live (especially here), finding good affordable health insurance, and saving for retirement.  It's definitely the life of the starving artist.  I do empathize with everyone, especially those with children and families who depend on them.   I have no one to support but myself and no loans to pay off, so my situation is not as dire as others. 

Offline roy

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Re: Has the downturn in the economy affected you (yet)?
« Reply #5 on: January 28, 2008, 09:47:08 AM »
I work for a bank and have had one person cut from my group so far. I happen to work in an access control group, so I have a general idea of how many people have left the bank recently. I'll just say that number is larger than regular attrition.

Offline urrisgirl

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Re: Has the downturn in the economy affected you (yet)?
« Reply #6 on: January 28, 2008, 09:49:08 AM »
No not yet. But I must admit I am a little bit nervous over job security. My husband and I are pretty close to our goal of buying a house. We are both hesitant to make any type of large purchase- for various reasons. One of the reasons for me is fear of one of us losing are job and having to carry a large mortgage on one salary which would be near to impossible. Our only option would be to move out of NY state where housing would be cheaper but neither of us particularly like this option. So we will just have to wait and see.




Offline caouchin44

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Re: Has the downturn in the economy affected you (yet)?
« Reply #7 on: January 28, 2008, 09:55:57 AM »
I worked for an educational company who offered after-school tutoring services for kids.  I was laid off due to a series of center closings.  So I'm doing something I never envisioned myself doing - collecting unemployment. It helps but its nowhere enough money to really get by, especially in NYC (the max is $405/wk) .  I used to live in Albany where $405 would go a lot farther.  So I suspect if this economic downturn continues to get worse, we'll see people around here more affected.

Offline Hrmph

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Re: Has the downturn in the economy affected you (yet)?
« Reply #8 on: January 28, 2008, 10:42:42 AM »
Well i work for a big investment bank. i have a ton of my company's stock in my 401k...lets just say I am down a very significant portion, and my partner was laid off so i now do the work of 2...more with less.....

Offline Sweeper

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Re: Has the downturn in the economy affected you (yet)?
« Reply #9 on: January 28, 2008, 09:48:46 PM »
Quote
Well i work for a big investment bank. i have a ton of my company's stock in my 401k
Come on, you know better than to double down on your career and 401K.
Quote
The person I met with today is a multi millionaire developer who is running scared! 
This may be a sign of correction. We've done this high wire act with real estate for too long. The speculation is not healthy because it denies the laws of economics.
We are currently at a 5% unemployment. Historically that is considered full employment. As of yet the downturn in the economy is only theoretical, the worst thing the we can do is overreact.

Offline FZ

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Re: Has the downturn in the economy affected you (yet)?
« Reply #10 on: January 28, 2008, 11:27:44 PM »
My  'downturn' started  a year  before  9/11, the economy was already in the  skids and 9/11  destroyed the airline industry I was working at for 12 years. In addition, 'health problems' I aquired  after  9/11  with no job and/or insurance  nearly made me homeless. No, what is  happening now, is  just another normal  cycle of the economy and I have learned  my lesson, never again put all eggs  in one basket, as  the old cliche says.  I think in the  next two years, provided  we do the correct thing and keep  our boot ,on those who want us dead, throat, not nearly  enough  now, the economy tends  to bounce back.

Offline RedSoxfanNYC

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Re: Has the downturn in the economy affected you (yet)?
« Reply #11 on: January 28, 2008, 11:30:50 PM »
I work in RE as an appraiser, although on the commercial side. I put in an 11hr day today and look pretty damn busy for the next month at least. So the slowdown hasn't effected me yet (knock on wood).

Offline demifess

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Re: Has the downturn in the economy affected you (yet)?
« Reply #12 on: January 30, 2009, 08:09:51 PM »
I work in the animation industry which is always freelance.  I also work in NYC, which means that the amount of work is a lot lower than say in LA, or in the many countries we (unfortunately) outsource animation to : Canada, Korea, India, etc.  So us artists are pretty used to breaks in employment.  The writer's strike is affecting the entertainment industry in a big way, and that is trickling down to animation deals.  I learned a long time ago to spend wisely, and save wisely, for the inevitable periods of unemployment.  It also means I will have a hard time buying a place to live (especially here), finding good affordable health insurance, and saving for retirement.  It's definitely the life of the starving artist.  I do empathize with everyone, especially those with children and families who depend on them.   I have no one to support but myself and no loans to pay off, so my situation is not as dire as others. 

My boyfriend and I also work(ed) in the animation industry. We worked at separate companies, I got laid off first and he got laid off second. I've wanted to be an animator since I was very small, and I worked very hard to get that first job I had, where I got laid off. I was rejected by unemployment for some reason, and now he and I are picking up the pieces and trying to figure out what to do. I'm thinking about going into another career. I dunno, or ride it out, and try to figure out where to go from here. Does anyone know of any like unemployment support groups? Or any suggestions for extra income?

Offline Harlan

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Re: Has the downturn in the economy affected you (yet)?
« Reply #13 on: January 30, 2009, 08:14:50 PM »
I applied for 19 academic jobs this cycle. So far, three of those institutions have written me letters saying "we apologize, but due to the economic situation, we're canceling our job search." (Including Stanford and CMU! Which are not exactly poor universities!) Looks like I'm getting exactly one interview, which means probably no more than a 1/3 chance of an offer.

Offline CW

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Re: Has the downturn in the economy affected you (yet)?
« Reply #14 on: January 30, 2009, 09:08:43 PM »
Quote
We are currently at a 5% unemployment. Historically that is considered full employment. As of yet the downturn in the economy is only theoretical, the worst thing the we can do is overreact.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=ajyQfLEU77e4

According to this article we're up to 7.2 percent and climbing. I think the climbing part is what makes it scary.


 

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