I was reading a Bloody Monday article on CNN Money last night and it’s all so sad. Over 207,000 jobs lost so far. I found this chart that breaks down where cuts have been made – it seems like it’s missing a lot of companies (GM, Ford, all the banks, etc), but I think that is because it’s from 2009 only – nothing before the New Year.
I was reading yesterday that the economy is not expected to get better until at least the end of the year and that it may get worse. It’s so scary to think about how much more job loss there will potentially be – and then to start thinking about who is actually safe? I mean, I guess teachers are. But who else? Even doctors aren’t necessarily safe. Sure, people still get sick, but hospitals are still a business and they can still lose money and lay off or close things down. Travel is down, gas/oil consumption is down, retail numbers are down, the housing market is down, I’m sure restaurant/the service industry numbers are down…
I was talking to my mom last night about the last time the economy was really like this with job loss and all. She said it was the 80’s and at that time, a job and the economy were definitely not on my priority list, so I don’t really remember things being bad. But it is a little comforting to think that I don’t see any lasting effects areound me from the 80’s. When I am around my grandparents, I do see lasting effects on them of the depression. They still wash and reuse plastic bags, plastic dishes that I would throw away, buy only clothes that are on sale, save everything, clip coupons, etc.
I take comfort in the thought that what is happening around me is like the 80’s as opposed to the 30’s and hope things don’t get worse. The idea of another depression is so scary.