The Recession

[Ellmeister]

Everyday I commute to London and everyday I read about what more is going wrong in the economy. We brought in this coalition believing they would be able to provide better solutions than labour but having returned to a double dip recession and now officially have the longest recession our country has endured since World War 2, George Osbourne's plans are increasingly failing.

 

Do you guys still believe the coalition and their plans in place are enough to get us out of this mess? Are labour going to be any better?

 

I know worldwide the economy is shrinking so it'd be nice to know how everyone else is dealing with it as well. Has anyone been affected hugely by this recession UK or non-UK?

[Yvonne]

I probably would have moved out by now, but over all, I've only been affected a bit, by food and transport costs. I'm quite lucky in that regard.

 

Very glad we didn't join the euro in retrospect!

[Cube]

Recession? What recession?

 

Since the recession started I've come out of a £4500 debt (not including student loan), the majority of which was renting a house in Sheffield when I dropped out (contract had to be signed in January), I've got a very stable job (so much so that my boss is discussing about putting a six month notice period in my contract) in a growing company, I've moved into my own rented place. And I have a cat.

[Pancake]

During the 'big' recession of 08/09, i didn't notice any impact on my life at all. But now that i'm looking for a job, i'm feeling the pinch.

 

In 2004 i strolled into a job with no experience.

In 2006 i did the same.

 

In 2012 when i've tried to get a job, i've been mostly ignored by employers, and even hung up on. Wasn't prepared for such a drastic change in attitudes.

 

I don't see us recovering properly for a very long time.

But we're still better off than some. I was speaking to a Polish friend of mine today, and she was telling me how her 63 year old dad who's not working gets equivalent to £8 a week from the government to live on. Mind you she said it's always been like that there and it's more to do with Poland being a broken country, than the recent recession probs.

[Sheikah]

It wouldn't have been any different under Labour. I think of Parliament a little like the England football team - they blow for a few years, get a change of management, then blow for a few more. All the while we all somehow believe a shake up is going to turn things completely around.

[Ellmeister]

I think I've lived in a bubble at university ignoring the recession but now I can see the more blatant effects on my personal living standards. Like you @Pancake, I've heard a lot of stories from my university friends struggling for any little scraps at the moment in terms of jobs. Last year was the worst for graduates since 1995 apparently.

 

@Sheikah what would you do to help the economy woes then?

[Sheikah]

I would start by reducing military spend, funnel the money into science and science education. I'd heavily, heavily regulate benefit payouts since they're so blatantly being abused by so many, something I know from growing up. I'd strongly promote alternatives to University, since so many are going for the wrong reasons. All the while subsidising education further so its not so ridiculously expensive (9-fold fee increase since I went in 2005-08).

 

I'd also tax smoking a lot more, increase taxing on the super rich. Heavily restrict companies like Wonga and maybe tax alcohol in supermarkets more. Probably not enough, but I'd be happy to do it.

Edited July 31, 2012 by Sheikah

[Ellmeister]

Your policies would create so much uproar they'll never happen!

 

I meant feasible policies :p

[Sheikah]

Yeah I obviously meant if I was running a 'democracy' in the same way Hitler was. Except y'know, without all the atrocities. :p

[Yvonne]

I would cancel trident, and start a project called thor's hammer, and heavily imply it was a new nuclear capability program. I would then spend the money on a huge infrastructure overhaul, installing smart grid technology and offshore wind farms (which I'd disguise as oil rigs).

[Cube]

Slightly relating to the recession and jobs and stuff: I'm doing job interviews for a new apprenticeship role (which will turn into a full position) in a couple of days. Actually...it's for IT. So they'll be my apprentice.

 

Hang on...that will make me a manager, director, shareholder and I'll have an apprentice.

 

I should ask for a pay rise.

[Sheikah]

I think it's important you encourage your apprentice when he's starting out but make sure he knows who's boss.

 

You should definitely say "You think you can play me? Well let me tell you, I'm as hard to play as a Stradivarius."

[Ramar]

The only thing I've noticed with the recession is jobs. I studied Computer Games Development, left with a 2:1 hoping to land a junior programming job. That was 3 years ago now. It just hasn't happened for me, I've had in that space probably 10 interviews. I can't tell you how many jobs I've applied to because I've lost count.

 

It's a hard industry in this country anyway, but with most companies cutting numbers and moving towards the low cost app scene it's been an absolute bugger. I went for one interview for a junior role, the guys seemed enthusiastic with my work. Only to find out they employed someone with 5 years commercial experience. I can't compete with that.

 

I must admit it's hard not to blame yourself, but the longer I go on not finding anything, the less motivated I am, the less I keep on top of practicing/working at home on stuff to show employers. Which creates a vicious cycle.

[Rowan]

The recession hasn't effected me too bad as I'm in the university bubble. Currently doing a summer internship at one of the departments which has a small pay but provides valuable experience for the future. I imagine the recession hits more with the families with young children where 1 job is having to pay to feed 3-4 mouths, give them a roof over their head and clothes.

 

With government, the parties make their claims in their manifestos but when they get into power it turns out they can't fulfill some of their promises. The coalition has been pretty bad - the Chancellor having to always scrap and change plans for the budget and tax, the recent issue with privatizing the NHS, £9k student fees for those starting this September (even though I won't be affected by that one in particularly nevertheless not going to forgive Lib Dems anytime soon). Can Labour do any better? Probably not. MPs in general are out of touch with the rest of the country.

[Dannyboy-the-Dane]

I'm not too much into British politics, but from what I've seen it seems the Lib Dems had some great plans, and then they became the Tories' bitches.

 

In Denmark it's not too bad; we're doing quite well compared to the rest of the world. But a capitalistic wave is sweeping the nation, and nobody seems to realise that forcing as many people out on the job market for as long as possible is not exactly the best idea when there aren't enough jobs. Nevertheless, people seem much more interested in complaining about the unemployed and how they're not contributing to society (because obviously they just don't want to work, and if they can't find a job it's because they're not trying hard enough) than focusing on how to create more jobs and get the economy up and running again.

[Zell]

During the 'big' recession of 08/09, i didn't notice any impact on my life at all. But now that i'm looking for a job, i'm feeling the pinch.

 

In 2004 i strolled into a job with no experience.

In 2006 i did the same.

 

In 2012 when i've tried to get a job, i've been mostly ignored by employers, and even hung up on. Wasn't prepared for such a drastic change in attitudes.

 

I don't see us recovering properly for a very long time.

But we're still better off than some. I was speaking to a Polish friend of mine today, and she was telling me how her 63 year old dad who's not working gets equivalent to £8 a week from the government to live on. Mind you she said it's always been like that there and it's more to do with Poland being a broken country, than the recent recession probs.

 

This is what, in my opinion, the recession has affected the most. In 2006/2007, me and most of my mates easily managed to pick up part time jobs (we were all 6th formers with no experience). There was barely an interview process.

 

Last year, I was looking to get a part time or a temporary job to fill the time before I started my graduate scheme. It was damn near impossible. The one interview I got was at Costco and apparently there were 50 people applying to one position for a christmas temp role. Needless to say I didn't get it, despite having retail experience. I stopped bothering in the end and I decided to become a private maths and science tutor instead, where I ended up earning about £100 a week.

[Ellmeister]

This is what, in my opinion, the recession has affected the most. In 2006/2007, me and most of my mates easily managed to pick up part time jobs (we were all 6th formers with no experience). There was barely an interview process.

 

Last year, I was looking to get a part time or a temporary job to fill the time before I started my graduate scheme. It was damn near impossible. The one interview I got was at Costco and apparently there were 50 people applying to one position for a christmas temp role. Needless to say I didn't get it, despite having retail experience. I stopped bothering in the end and I decided to become a private maths and science tutor instead, where I ended up earning about £100 a week.

 

What are you doing now? I saw you have a full time job now but can't remember if you ever posted what it is!

[Ashley]

I'm doing okay in spite of the recession, but then I'm playing it safe and not doing something I wish to do but rather something I can do. I kept saying I'd ride this out and when things were stabler but we're still here and I graduated three years ago!

 

However, in the last year I have increased my salary by 44% (or 50% if you include the first post-postgrad job I was offered but didn't take) so I can't complain too much.

[Zell]

What are you doing now? I saw you have a full time job now but can't remember if you ever posted what it is!

 

I now work for PwC, in its consulting practice. Job is fun and I get to travel around a lot (with all expenses paid!). I think I remember that you got a job last year for KPMG?

[nekunando]

Do you guys still believe the coalition and their plans in place are enough to get us out of this mess?

 

..that's assuming that some of us ever believed they'd get us out of it in the first place

 

The recession has only really affected me, like some of the rest of you, in regards to finding a job or career. Like @Ramar, I too have been out of university now for 3 years with a 2:1 in computing but the requirements to get a job these days are almost ludicrous. Anything you apply for will generally have more qualified applicants for the position with more experience and the more years that roll by, the more graduates who are coming out to apply for those same jobs that you are.

 

Things have worked out in such a way that I've been forced to look at other options and the job that I have bemoaned on a regular basis for the last six years may eventually turn out to be my saviour. I'm still in a part time position (and have been ever since I got the job whilst being at university) but it has been enough to see me through over the last few years.

 

I do, of course, have aspirations of being able to achieve more but in the coming months I will be trained by the company to an assistant manager level due to being one of the eight candidates selected from over 100 applicants. It may never have been in my original vision, but it is an opportunity to progress and one that certainly isn't to be sniffed at in these current times.

 

My workplace has also been partially responsible for other unforseen good things in my life right now and it feels so strange that the very place that has frustrated and sometimes angered me so much over the years has ended up providing me with so much..

Edited August 2, 2012 by nekunando

[Dog-amoto]

The problem with the industry I'm in is a lot of people have been spending their redundancy money on training to be an instructor. So you see a lot of fly by night cheapo instructors who have nothing to offer but a cheap hourly rate. I'd really love to raise my prices considerably but it's proving difficult.

[Fierce_LiNk]

The recession has hit Wales very, very hard. Newport has always been a shit-hole, but now it's not even that. A hole implies that time and money has been spent crafting the crater out of the ground. In Newport's case, there isn't any money to buy relevant equipment to carve the hole. So all you are left with is the shit.

 

No jobs there whatsoever. In any field. I applied for around 40/50 teaching jobs in Wales and received 3 replies. No interviews. There's quite a bit of supply work, which is the saving grace that got me through my year. I met another teacher who had been supplying for 5 years whilst still looking for a full-time job in Wales...that's when I hit the panic button and knew I had to get out of there. One of the jobs I applied for received 140+ applicants. That just isn't right.

 

Applied for 3 jobs in England, got 2 interviews, received 1 job by the end of it. Not a bad success rate.

 

It started off as part-time, but my hours and responsibilities have increased, and now I have a full-time permanent contract for September.

Edited August 2, 2012 by Fierce_LiNk

[Rummy]

This recession/credit crunch has been going on so long I'm not sure I even notice it any more. I'm not going to blame the coalition, and I'm not sure Labour could have done a better job, because it seems every government is shit.

 

Tbh, I'm feeling more and more recently like this country's going right down the shitter. It's corrupt as fuck, and that's just from what we've seen. Subprime and banks, bailing out banks and yet their workers still get big bonuses, the MP expenses scandal, and more recently the things exposed by the Leveson inquiery and now the bloody Libor fixing shit, it's genuinely unbelievable when you think about it. It also makes you wonder, what ELSE is going on that hasn't been exposed yet? The recent criticisms by government of both Jimmy Carr and then saying that working cash in hand is immoral, when there's major corporations and richards avoiding far more in tax from what I understand, just shows what a bunch of self-serving scum are running the country. Lib Dem's had good ideas, but as Danny said, they became the Tories' bitches.

 

Unfortunately our whole economy's backbone is the banking sector, and its necessity has led to it getting away with murder. All recessions come and go apparently, so it's just a case of waiting it out, but I'm constantly wondering whether it's going to get worse. At the end of the day, there's very little we can do about it, and everyone's in a similar boat. I have to say, compared to a lot of what I see/hear, I'm definitely not amongst the worst off at the moment though.

 

 

Also: Biggest thing I don't understand - why people still want to go to university. Most people I know who went haven't had the greatest success of getting job related to their degree with it. Sometimes I wish I hadn't gone and started work full time at 18 instead, I'd be in a much better position now and most probably have a house.

Edited August 2, 2012 by Rummy

[Zechs Merquise]

This recession has been coming ever since the deregulation of credit acts in the 1980s. They did away with manufacturing and mining - the jobs which gave stability to working class communities and tried to replace them with service sector jobs which were then sent abroad as well.

 

To keep people sending they continually deregulated credit and kept giving more and more money to people who then got ito major debt. Eventually the credit ran out.

 

Now we have a country that has a large working class population that doesn't work and large portion of the population suffering from crippling debt. At the same time we have no industry to create wealth and a banking sector that is corrupt and actually sucks the last bit of wealth out of the economy.

 

Things will however continue much in the same way they are now. Some people will feel it, others won't. All depends where you are and who you work for.

 

If I was in charge I'd put more money into rejuvenating the military and make sure all the contracts for aircraft carriers, aircraft and hardware went to British firms and everything was made here creating jobs. It's far better to put government money into jobs than benefits.

 

I would heavily tax the banks and the super rich whils at the same time regulate benefits with a system that meant those claiming would have to do something for their money such as attend days cleaning up parks, picking litter, helping out at animal charities and other tasks that would give something back to society.

 

Finally, I would make it harder to obtain credit and come down hard on comanies like Wonga, Carcraft and other firms who sell credit to people who don't understand what they're getting into and charge way over the odds.

 

But they'll never be a fix to the problem as the people in power are out-of-touch with reality as they're all public school boys who've never experienced what it's like to work on minimum wage or how normal families live and the decisions they have to make. I doubt any of the people in parliament ever worry about the costs of petrol, the price of gifts at Christmas or whether their wage will last until the next payday!

[Charlie]

I've only noticed it in terms of increased cost of food (and drinks whilst out). I've been very lucky in that my rent has stayed the same for the last 4 years in a brilliant flat.

 

When I decided it was time to get a full time job I found one within 2 weeks of looking. My skillset from University, marketing and business technology, are always going to be needed and then my other skills I have gained myself, SEO, social media, and PPC advertising are in high demand at the moment. Since getting my job I've had a large pay rise and 2 other job offers from very good firms.

 

A lot of people say "there's nothing out there" which frankly is untrue. I think the biggest problem is a lot of people (and I should stress - this isn't everyone, I'm thinking of a few people from real life) don't want to do a job that is 'beneath them'. They think they are too good to take a bar job, or a shop assistant. They then go into the spiral of applying for jobs they like the look of but aren't qualified for and have no chance of getting.