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Job Loss megathread

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posted on Oct, 13 2008 @ 11:53 AM
I know it's not a cheerful subject, but it is important. Arguably no industry or business is immune from the current economic downturn / catastrophe. Whatever you believe about the magnitude of current events, jobs have already been lost, and will continue to disappear.

The rate at which jobs are cut will be an important indicator both of the state of the economy and of the human cost of a failing system. (I say 'system', not 'economy' because the potential for productivity remains in place, but if the banks have managed to gamble away a significant proportion of the wealth of entire nations, demand is inevitably going to drop, and output, productivity, profitability and jobs will clearly decrease as a result.)

The point of this thread is to serve as an indicator of the rate of change in employment across the globe. Please feel free to post news of any significant redundancies no matter what the country.

I heard a report on BBC Radio 4 this afternoon about masses of people who have been laid off in the City of London (i.e. within the banking industry) who are now spending their time walking the streets aimlessly. A major topic of discussion was whether these people have transferrable skills. While it was pointed out some could retrain to become maths teachers the implication was clear that a large percentage will struggle to find employment, at least in the near future.

I did not hear figures for current losses quoted, although if we take into account what has been happening over recent months as well as recent days and weeks, we are undoubtedly looking at tens of thousands of people out of work from this industry alone. Anecdotally the figures may be huge: Thousands made Redundant in the City .

While some may cry "Serves them right!" the purchasing power of tens of thousands of highly-paid employees in the banking sector is already hitting the employment prospects of myriads of others. Here is just one example: Nannies first to go after City job losses

Forecasts are bleak. Here is one from today:
Scotland forecast to lose 38,000 jobs

The tourist industry will also be hard-hit. This example is from the UK, however the prevailing economic climate is unquestionably going to affect business across the globe:

Job losses and failing businesses forecast by Christmas

With talk of a merger between Ford and GM unemployment will rocket at a local level, but the repercussions will spread throughout the economy, as it is well known that the automobile industry creates vast (and often essential) demand for other businesses.

What we can achieve in this thread is an indicative ongoing record of the situation. Needless to say news of how businesses (or national economies for that matter) manage to diversify or adapt in other ways in order to stay on top or even increase employment would also be very welcome.

posted on Oct, 13 2008 @ 11:56 AM
Your unemployment rate must be at least 10% no matter how they cook the books.

Is there any real way of finding out, the true numbers?

posted on Oct, 13 2008 @ 01:42 PM
Andy, you want to look up U6 numbers. It's the set the EU uses. The US uses U5 numbers, which are useless and very deceptive. The U6 numbers include more people under a wider variety of circumstances. US Government numbers on anything are pretty much a joke now days (IMO). A recent example of bad Government numbers is the count on Illegal aliens. 10-12 million, right? Then last week they announce 5 million Illegals bought housing and screwed up in this sub-prime mess. IMO I can't believe nearly 50% of the Illegal aliens bought houses. I believe the estimates that say 50-60 million Illegals and about 10% bought and failed.

posted on Oct, 13 2008 @ 01:46 PM
i say we all become cops...or military...

i bet they have plenty of job security in the months to come

posted on Oct, 13 2008 @ 01:50 PM
I know in Ohio they are closing one of the General Motor plants in Dayton next month. It's really sad.

I work in the banking industry. I am a peon not a high level Wall St. person. I unfortunately work in the credit department of the bank. I don't believe I will have a job beyond the first of the year. We haven't been bought by anyone, I just think lay offs are coming.

Do I have transferrable skills, I don't know. I have a Bachelor's Degree so I should be able to find something but it may be at far less than I am making now and I will probably be greatful for any job. Minimum wage and all.

Just my take in Ohio.

posted on Oct, 13 2008 @ 01:52 PM
It's already starting.........I hear it all around me. Friends...neighbours, they aren.t sure about their jobs. They loose projects, customers.........a year ago they had a fantastic job and now anly sorrows.....

posted on Oct, 13 2008 @ 01:59 PM
reply to post by seejanerun

Really sorry to hear that.

Sounds like you've got what it takes. People with history of doing an honest job will have the best chance.

As for the folks from the stock exchanges, I'm not so sure...

( Any brokers on ATS - I'm sure you're the exceptions

posted on Oct, 14 2008 @ 12:01 AM
I really have no skills that would help me gain new employment if my current job disappeared in the fast food industry. This economy sucks right now, and especially in my area of Wisconsin, jobs are hard to come by. More and more people are showing up for jobs that normally high school/college students would be signing up for. People with degrees and certificates are finding themselves as baggers at the grocery store or flipping burgers at burger king. It is kind sad to see really.

posted on Oct, 14 2008 @ 12:15 AM
I actually lost my job last Monday (the 3rd) due to slow times I worked in the VSat industry (satellite communications stuff). They will lay one other person off as well theres only about 20 people in the company.

I have many transferable skills...but no actual degrees which hurts compared to people being laid of who do have them. I don't actually plan on being able to find another job by the end of the year due to the holidays aproaching and such.

I've sent out probably 15 resumes already in the first week and have recieved 1 prescreen, otherwise not so much as a thank you for applying.

*shrugs* we'll see I guess

posted on Oct, 14 2008 @ 12:35 AM
reply to post by ninthaxis

It is pretty disturbing seeing people with a college education working retail. Making close to minimum wage along with the other workers without a degree, but still having to pay back college loans, lol. I hate to say it, but I really do not think this is a short term trend. It might be particularly bad with the state of things currently, but this really is a long term thing. We're going to see more and more people with college education taking pretty low paying jobs, at least the way things I see it as a college student.

My sister is on her last semester of her biology degree, and took a retail job for some temporary money. She mentioned to me the large amount of people that had 4 years degrees working there. Could you imagine people without college degrees getting pushed out of retail eventually? lol, a 4 year degree being required to work at Walmart will be a sad reality. Even when she graduates, she doesn't expect to make more than around 30k a year which I don't see as being all that high.

[edit on 14-10-2008 by ghaleon12]

posted on Oct, 14 2008 @ 12:36 AM
reply to post by pause4thought

You mean there are job losses!?!

posted on Oct, 14 2008 @ 01:39 AM
reply to post by pluckynoonez

Plucky, how did you get on the stage with McCain?

In any case I am genuinely appalled at what I'm hearing. It is already sounding like a recession, no matter what the papers say.

The stock market can boast about short-term gains. But the man in the street has been feeling the pinch for a very long time. When it affects jobs you know it is serious.

(The only consolation so far is that no-one has reported mass job losses.)

[edit to correct typo]

[edit on 14/10/08 by pause4thought]

posted on Oct, 14 2008 @ 02:02 AM
In my area 1500 jobs are being lost from one company alone. I shudder to think how many are lost when you consider all the different companies here..

posted on Oct, 14 2008 @ 02:18 AM
Once a job is lost what happens to the lossee?

posted on Oct, 14 2008 @ 02:20 AM
He competes in a growing pool of similar people for worse jobs. any job will do.

Others become enlightened to how they are being manipulated and pursue alternative lifestyles.

posted on Oct, 14 2008 @ 06:00 AM
In the UK the construction industry has also gone down the pan... Many people have been getting laid-off since at least August this year, including my self, i can't even get work as a measly labourer or even a job in a warehouse...This is the lowest point i have ever been in my life, it's going to get much worse come Xmas in a couple of months... What is the LIARbour government doing to solve this problem??? Increasing the ****ing taxes...

[edit on 14-10-2008 by SKUNK2]

posted on Oct, 14 2008 @ 06:09 AM

Originally posted by ghaleon12
reply to post by ninthaxis

It is pretty disturbing seeing people with a college education working retail. Making close to minimum wage along with the other workers without a degree, but still having to pay back college loans, lol. I hate to say it, but I really do not think this is a short term trend. It might be particularly bad with the state of things currently, but this really is a long term thing. We're going to see more and more people with college education taking pretty low paying jobs, at least the way things I see it as a college student.

I gave up a chance on a uni education for similar reasons, no pint if things do not work out. lol when i look back now, and wonder what could have been, but to that i have been proved right in that aspect, and i am glad some of the things turned out the way they did.

posted on Oct, 14 2008 @ 06:11 AM
reply to post by SKUNK2

There is always someone worse of, i have not worked since 1999, because of what was done to me. Working sure does give you some respect you do not have, being on the dole.

Nevermind there are probably more government jobs out there.

posted on Oct, 14 2008 @ 05:31 PM
I don't know if it's just in Texas, but the job market is good out here. I quit my job about 3 weeks ago, and I applied ONLY online the first week, and had 5 calls, 4 out of those 5 I was offered a job. I found a job without even leaving my house. I do not have a college education, and the job I took pays 34,000 a year.

But I do know that certain states like Michigan there is MAJOR job loss, and I do feel bad for those people. But, there can't always be a boom in the job market, there's boom and busts.

[edit on 14-10-2008 by Slazer]

posted on Oct, 15 2008 @ 02:11 AM
The news from the UK is not good:

Unemployment likely to rise again

(The official figures are due out later today.)

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