Banker. We are weathering the storm quite well so far, but unemployment is catching up to consumers and small businesses are starting to run out of gas. They can take downturns of reasonable length, but this one has drug on a long time and it is beginning to erode their staying power. This winter will be tough on small businesses.
14 plants in our area moved to Brazil over the past four years. Hubby lost job of 27 years and is fighting with the other thousands out of work for what scrap jobs there are. Since this was primarily a mill area, all the businesses are feeling it. Have strip malls with one lone store, although we are a small town too. Oh yeah, and the temporary work agency is closed now too. They didn’t have enough work to keep them in business past the end of the month.
Local community college had to turn away students for the first time ever as there was TRIPLE the expected amount of students registering for classes this past fall. Needless to say, in our area (our region is at nearly 15% unemployment without taking U6 into account and given the plant closings, I’d estimate the U6 is double that number), restaurants are barely surviving. McDonalds in the three county area has a hiring freeze. Yes, MCDONALDS IS NOT HIRING. Walmart is laying off even part time help and the grocery store said (when I asked for an application) that they are turning away 20 people a day.
Three insurance agencies shut down due to businesses leaving or shutting down meaning commissions are out.
It’s pretty grim here. Luckily it’s rural and we rely on each others for stuff. We have a market at the courthouse every weekend and they have started not only selling produce, eggs, and such, but trading and bartering. I traded a nice quilt for some canned peaches and eggs and other food last weekend. Since most rely on propane for heat, and it’s still expensive, quilts are a commodity.
By the way, I’m working on my “breakfast blanket”. I hope to master it soon and take it to the market. It’s like a shawl/blanket for kids to eat breakfast without having to crank up the heat in the morning.
Don't need anything from the government.
We are agonizing over whether or not we will have to lay off our 2 employees. We have cut everywhere possible, but we don’t want to let them go just before Christmas, or any other time for that matter.
Tax attorney in Texas. Business is pretty good, but its a bit of a recession-proof job. People tend to dispute tax debts more when the economy is down.
SnakeDoc
It’s “affecting”, not “effecting”
Sincerely yours
The Grammar Nazi
I see Old Port boutique type shops closed. I was told by one new owner that those retail shops were shaky to begin with. Soho moving to Portland Maine-same atmosphere, already had an Internet established business. New owners are opening around the outskirts because rents were so high and remained unreasonable. They help each other by telling a customer about another store in the general area that might not have been in the “path” expected by cruise ship travelers.
Sure the markets are up. When you cut jobs you cut expenses and the Street is expectant of the positive figures.
No one is going to hire unless there is a map to progress laid out, the “unexpected” taxation by Democrats has the future pictured “as the unknown”.. ...no one invests in the “unknown”.
My hubby’s job moved to IL. I must stay here in NC to take care of a sick parent. The separation is hard, but it is like a military deployment without the enemy fire, so we are ok. Fortunately, we have always lived well below our means.
In resort area of northern Wisconsin.
Things are going well.
In resort area of northern Wisconsin.
Things are going well.
Tech. 2 pay cuts this year for all employees. I see lots of locals selling cars, having more yard sales etc. Strip malls half empty. Traffic low on black Friday. We’re not spending anything extra.
Three close family members that I know of in tough financial condition...found out over the Thanksgiving holiday. The strip mall near my house is now empty except for a grocery store and bar. Last year I thought the financial crisis wasn’t as bad as the crisis of the Carter years. Now with the closed stores and family members in trouble, all we need are gas lines and it will be just like the old days...
Retired for two years.
I had moved all my 401k assets to fixed income in August 2007, at the point that the Dow was trading sideways. Got out at Dow of 12800+, into 6% fixed income.
Wife lost 23 year job in Oct 2007, but with a year of severance.
Bought house in coastal Texas on a golf course via a bridge loan; sold our waterfront home in RI after nine months, took a $450k hit from what it had been worth three years ago.
Living in Texas - no state income tax, property tax $5000 versus $12,000; auto tax 0 versus $2,000, now sales tax is 8.25% versus 7.0%. Home improvement labor rate is about $35 per hour, versus $70 per hour. We’re Walmart shoppers
The downside is that I sweat in the summers, and need to dial #2 to get English telephone messages, and to try to find meaningful $$$ employment is difficult.
But I can live off the cash equity from the RI house for the next six years, before needing to tap into my taxable 401K.
Overall I’m OK.
I hope that our country can survive Zer0 for the next three years. We need to retake the House and Senate next year, whatever it takes to stop this socialist madness!
I work slight off hours, 9:30am - 6:00pm. I am pretty much the last one in my apartment complex to leave for work, because in the ~40 car parking lot everyone would be gone.
Before BHO there would be only 2 or 3 cars left by the time I left. I remember this because 2 years ago my battery died on some weekday and there was nobody to get a jump from and if I came home for lunch I was always able to park right in front.
Now, there’s about 10-12 every morning. If I come home for lunch I still have to park far away. There’s another 2nd lot in my complex and it looks like the same is happenings there.
So either many of the other tenets have brought a bunch of extra cars they don’t use during or many of them are now unemployed.
we have yet to use the heater... it was 54 degrees in our home this morning... i’ve begun using coupons, something i’ve never bothered with before... we mostly hang our clothes out to dry... now that it’s cold out, we hang them in our house at night... to me, this is crazy... we are almost back to where my parents’ parents were... i’ve not noticed any change in the number of cars i see filling up the parking lots in restaurants in town... seems people are still going out to eat...
Inventory Control. Incoming merchandise shipments are low. My hours which usually increase beginning in September to ready for Christmas stock have remained low. No pay increase in two years. The stores in our district (20) are running anywhere from 20 to 50% below last years sales number.
Equipment Specialist: My small town is dependant on a local Army r&d/logistics post, with a NASA operations center co-located. Right now the defense insdustry is well funded so the local economy is good.
I retired from the Army as an E-7 after almost 22yrs of active service, so I get a small monthly check from that. After retirement I was hired as a civilian employee by the Department of the Army. Bottom line: Me and the wife are ok.
unemployed since Feb. Had 28 years with the company. It sucks....it is brutal...