Economic recession ramblings

[mitchigan]

I hope you guys all have steady jobs or have some form of income. My school's career fair was lame this year and there's usually a long waiting list by start of fall semester for companies to come out and recruit, not this year. Most notably missing this year were big names from the automotive industries. Car makers like our beloved Honda, GM, Toyota, Nissan, and of course Uncle Sam/Fiat/Chrysler were absent for the first time since I've been going in 2003. Only Ford made the track out. Car suppliers like Delphi, Valeo, Denso, Dana and even Bosch were also missing. In any other given year, these guys would have a flock of kids waiting to talk to recruiters and would always be interviewing on campus week in week out. I'm just rambling to you guys how badly the automotive industry is struggling. It did not really hit me until I went to my career fair and notice how dead it was compared to other years. The aerospace industry does seem to be thriving however.

[Icebox]

i could understand why the automakers didnt show, but the suppliers should be doing better than normal since most people are begining to do more work themselves to save money.

[slipkord]

The economy is still in a slump. Yes, it's finally above 10k but it's a roller coaster of emotions everyday second. It's going to be like this for at least another year and maybe by then we'll get the big companies to step up and start hiring back. I'm in the shipbuilding industry and we are definitly hurting. But by this time next yr we're supposed to double our staff. That's a good sign. I'm interested to see who's going to take a leap of faith and be the first to jump in. There are so many variables that the banks, gov't,housing,stocks, all have to be doing well before everything gets back to normal. That's alot to ask for. There are Harvard grads with a 4.0 that can't find jobs. I hate, no I really hate my job but the only thing I can do is grin and bear it. Good luck to any of you out there looking for jobs, it's tough and you have to know someone to get your foot in the door. Hell I know people and I can't even get in, everyone has a hiring freeze. - off my rant now...

[mitchigan]

...There are Harvard grads with a 4.0 that can't find jobs...

This is such BS... it's effecting the current graduating class +/- one year the most. I can't afford to spend more time in school either, I hate school right now and the thought of grad school gives me suicidal thoughts, which most of the kids around here are doing since they can't get entry level jobs.

[Icebox]

i work in the railroad industry and even though the industry is in this same slump. my business is thriving because we are in the repair business.

[v6sicksspeed]

things might be on the up and up, but it doesn't always translate to more jobs.  i know that my company is definitely not jumping to hire too many more people in sales (which typically has a ridiculous turnover).

[wtcii]

My dad is an engineer for a tire company and they are doing very well compared to what they were earlier this year. It was kind of scary, in Feb. their stock was about 2.75 per share. It is at 17ish now. They have finally returned to reporting earnings. It is a great time to invest in the stock market now, way better back in Feb though. If more people would grow some balls and buy stock it might help, but what do I know. Half of my family was in the furniture industry, including my dad, and they all sold out at the perfect time, it went shits. I guess you cant really blame that on the economy, just chinese imports.

[Rich01]

... I guess you cant really blame that on the economy, just chinese imports.

I agree about imports man. I believe manufacturing is the back bone of our economy. How are we going to survive when we don't build anything here but instead, import (mainly) inferior products because it's cheaper. If no one has jobs, eventually we won't even be able to afford those cheap products, then what???

I hope you guys all have steady jobs or have some form of income. My school's career fair was lame this year and there's usually a long waiting list by start of fall semester for companies to come out and recruit, not this year. Most notably missing this year were big names from the automotive industries. Car makers like our beloved Honda, GM, Toyota, Nissan, and of course Uncle Sam/Fiat/Chrysler were absent for the first time since I've been going in 2003. Only Ford made the track out. Car suppliers like Delphi, Valeo, Denso, Dana and even Bosch were also missing. In any other given year, these guys would have a flock of kids waiting to talk to recruiters and would always be interviewing on campus week in week out. I'm just rambling to you guys how badly the automotive industry is struggling. It did not really hit me until I went to my career fair and notice how dead it was compared to other years. The aerospace industry does seem to be thriving however.

I'm in the inspection and quality control area of manufacturing and thankfully we've taken some early preventative measures early in the year by closing for a few days a week. And when you have a boss who cares about keeping their employees on, that's a plus also. This year so far we've built about 4 inspection systems. We did that many in the 4th quarter of last year. Thankfully we service all our systems so that area has picked up plus a few automotive part suppliers are starting to turn around now being that they have to improve quality if they want to compete.

[alpha]

... I guess you cant really blame that on the economy, just chinese imports.

I agree about imports man. I believe manufacturing is the back bone of our economy. How are we going to survive when we don't build anything here but instead, import (mainly) inferior products because it's cheaper. If no one has jobs, eventually we won't even be able to afford those cheap products, then what???

I agree that it would be nice if we had more manufacturing here to help the economy; but, society in the United States has become accustomed to cheap products.  And a problem with employees here in the U.S. is that employees have gotten expensive.  Manufacturers can't keep up with paying an expensive employee, especially if the profit margin doesn't cover overhead costs.  It's cheaper to manufacture outside of the U.S.  They can pay people less, and probably enough so to justify any added import costs.  If the employee cost plus import cost is less than that of a local employee, then why not manufacture outside of the U.S.; especially when society expects a product to cost a certain amount.

Unfortunately, competition will always drive a consumer to purchase the same or similar product for a cheaper price.  Sure, the more expensive one may be of higher quality, but people will always try to save a buck.

There is also a good amount of people that just can't afford the more expensive product.  As much as we'd like to think that people are justifiably compensated, there are people that are underpaid, and there are people that are overpaid.  Companies will sell more product, and hope to get more profit, but making their products cheaper.  But the tradeoff is to either overwork employees or to outsource the work.