Are we or are we not in a Recession? (unemployment, schools)

[esteban91075]

I received a phone call the other day from a good friend. It seems as though her company is wrapping up operations in SoCal and everyone is being let go. Her and her co workers are in the $100k-200k salary range. She then goes on to tell me many people she knows outside here industry are being let go as well. In addition, there seems to be many companies relocating to other states.

I have another friend that told me there were 100+ applicants for a county call center job. Many of these people have PHD's and have graduated from some of the most prestigious schools in the area.

I've done some research and every report I read calls for a either a mild California recession or no recession at all.

Am I missing something or are these just rosey projections?

[Delron]

Originally Posted by esteban91075

I received a phone call the other day from a good friend. It seems as though her company is wrapping up operations in SoCal and everyone is being let go. Her and her co workers are in the $100k-200k salary range. She then goes on to tell me many people she knows outside here industry are being let go as well. In addition, there seems to be many companies relocating to other states.

I have another friend that told me there were 100+ applicants for a county call center job. Many of these people have PHD's and have graduated from some of the most prestigious schools in the area.

I've done some research and every report I read calls for a either a mild California recession or no recession at all.

Am I missing something or are these just rosey projections?

Yeah, those reports/projections are full of it. You're not missing anything - the writing is on the wall. California finally couldn't hide the huge uptick in unemployed through statistical games and redefinitions of "unemployed", that's why the unemployment numbers shot up last month. "Official" unemployment for the state is, what, 6.1% now? The reality is no doubt closer or over 10%. And that doesn't include the vastly underemployed, the forced part time workers, etc.

[breeze823]

Pick up a newspaper, or watch the news. They will lead you to believe that we are in a recession. As for me and my family, we ignore half of what the media tells us and continue to live our lives.
The media scares us, telling us how bad things are, then people are afraid to go spend their money and change their lifestyles.
Live like you always have, ignore the media and we won't fall into a recession!

[katenik]

we need to experience two consecutive quarters of negative economic 'growth' to officially be in a recession. last i heard, we hadn't experienced one. every downturn in the economy is not a recession, but i suppose that hardly matters to someone who just lost her job.

[BRinSM]

Regardless of whether we actually meet the technical definition of a recession, any slight growth that our economy is experiencing quarter after quarter is certainly negated by the rise in inflation, which i don't believe is included in economic growth.

[breeze823]

This is the bright side of things. My husband just got hired on by a very large, nationally known RV Dealership. They just built a 9million dollar facility and are relocating us for my husband to run this dealership. This company knows what they are doing. Would they, in the middle of a recession, build this "state of the art" dealership? I've got all my bets on NO!
Please people, don't listen to the media!
And people lose their jobs everyday, it's a sad fact. We've been there too. But it does not mean a recession.

[breeze823]

Originally Posted by BRinSM

Regardless of whether we actually meet the technical definition of a recession, any slight growth that our economy is experiencing quarter after quarter is certainly negated by the rise in inflation, which i don't believe is included in economic growth.

Inflation sucks, that's for sure and 99% is due to the rise in gas prices. Don't let them win! Things will get better, hopefully sooner than later!
Remember how everything always falls to crap right before a presidential election.

[edelweiss]

Originally Posted by breeze823

Pick up a newspaper, or watch the news. They will lead you to believe that we are in a recession. As for me and my family, we ignore half of what the media tells us and continue to live our lives.
The media scares us, telling us how bad things are, then people are afraid to go spend their money and change their lifestyles.
Live like you always have, ignore the media and we won't fall into a recession!

Good post! The mainstream media is so darn biased, it's ridiculous!!! I can't watch Charles Gibson/Dan Harris/Katie Couric/George Stephanopolis without clenching my fists or rolling my eyes. I'm just glad I have the ears to hear through all their biased language, but so many I'm afraid just take every story they hear as strictly fact. Mainstream media has FAR too much influence on the people and policies of this nation!!!

[Californiaguy2007]

Honestly,it doesn't really feel like California is in a recession...The media though is well known for over-exagerrating the situation.

Where I live people are just going about their everyday lives and the only thing that is apparent is the High Gas Prices,other than that I wouldn't have known we were in a recession if I didn't watch the news.

[jamesandveybe]

Fewer jobs+new jobs paying less+12% per yr inflation since 2002+fuel up 300% since 9/11+housing doubled since 2002+more companies closing down & laying off=

Doesn't matter what you call it. Hard times are coming. Everyone out of debt and ready?