Over One Year Later: The Economy

February 6, 2009 I wrote a post about the economy and it’s very shaky status.  (You can see that here Economic Downturn).  I asked for some answers to some pressing question about your economic situations.  The results of my questions were posted a week later (Economic Downturn Part 2). 

My question now, over a full year later is, Has anything changed?  Having come very close to the unemployment line, our family is happy to now take relocating versus unemployment.  Not everyone has that same choice however.  If you participated in my survey last year I would love for you to come forward and tell me how your situation has changed (better or worse).  If any of you have had drastic economic circumstances in the past year I would love to listen.  You can share it with me via comment or privately (and I will not share private emails unless you give me permission to do so).  Click the Email Me button for the address.

Here are the questions I asked then and I would love to hear more answers:

1. Is the US economy {or your own country} worse than you thought? Better? What economy?

2. Do you think President Obama can bring the necessary changes needed to get things back on track? If no, how would you help the economy?

3. Have you personally been affected by the economic crisis of the last year? How (loss of job, 401k, etc.)?

4. What things have you had to forgo or postpone because of the economy?

5. Where have you made the biggest cutbacks at home? (food, transportation, vacations etc.)
 
If you are reading from Canada I’d like it if you would chime in with your own thoughts and perspectives.
I will share the results later in the week.

Here are some current articles and facts regarding the currect state of the economy and unemployment.

The number of Americans filing new claims for unemployment is expected to have risen to 445,000 last week from 440,000 the previous week. (Money CNN)  New reports are due out on Thursday.

A Look Ahead for Stocks (Money CNN)

The article titled “The Big Jobs Hole” by David Goldman has a good graph to show the job rates over the past year.

Unemployment rate: The unemployment rate fell from 10.0 to 9.7 percent in January and nonfarm payroll employment was essentially unchanged (-20,000). Employment fell in construction and in transportation and warehousing, while temporary help services and retail trade added jobs.

In January, the number of persons unemployed due to job loss decreased by 378,000 to 9.3 million. Nearly all of this decline occurred among permanent job losers.

The number of long-term unemployed (those jobless for 27 weeks and over) continued to trend up in January, reaching 6.3 million. Since the start of the recession in December 2007, the number of long-term unemployed has risen by 5.0 million. (source: Bureau of Labor Statistics)

Please take a few minutes and answer the questions I listed above and share your opinions on how you think the economy is doing.  I’m hoping the results are more positive than a year ago.

7 thoughts on “Over One Year Later: The Economy

  1. This is a comment about your thought for the day. I totally agree, 100%! Now I'm the Mother of an 18 yr old boy that's rear ended someone twice in 6 months! It sucks. We took his car for 2 months but it was hard driving him to work in the snow the whole time. I think it was more of a punishment for me. lol

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  2. I consider myself really lucky because my circumstances haven't changed all that much in the last year. But I know a lot of people who have had their lives shaken up. For me, the biggest thing is that my heath care plan changed and insurance is paying less while I'm paying more. But that seems like a different post, now doesn't it?

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  3. Ha, don't start a political war!!!! ;)I'm very, very Pro-Obama and I think he's doing a great job at getting things back on track. In his words, “these changes aren't going to happen overnight”. I think he had to shake things up to make thing better and I'm sick of hearing everyone whine about how terrible he is.From my perspective, I haven't been effected by the economy since my husband is still employed but I've seen my parents and brothers worry about their jobs. They all still have them though so that's something.

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  4. 1. The Canadian economy is doing better, but we weren't hit as hard in the banking sector due to our tougher laws there. If you guys and the Chinese could start buying more resource materials again though, that would be great.2. I think Obama can as long as he gets the support he needs. 3. Lost my job. Still looking for it. If found call: xxx-xxx-xxxx4. New computer, new tv, new… everything. We still get new food though, so that's good.5. Not having a job saved a lot in transportation.

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  5. The economy in Australia never really suffered that badly. The banks here are pretty tightly regulated and we're increasingly more economically tied to Asia than the US or Europe. There's still a possibility that things could go pear shaped, but so far it feels like we might escape. As for whether Obama can turn things around in the U.S., probably. But he's going to have to take a more active leadership role. Not rely so much on a weak Democratic congress and ignore the incessant whining from the G.O.P. I wish y'all the best of luck!

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