Ask MetaFilter questions tagged with recession

Studies about marketing during a recession?

korej — Wed, 09 Dec 2009 19:34:45 -0800

Tonight someone mentioned to me a study that boiled down to the idea that businesses that keep up with their marketing in a recession tend to bounce back better, or survive better. This makes sense to me, but he doesn't have a cite for study, and I'm curious. Does anyone have an idea of where this might have been, or any other study along those lines?

I can't do this job anymore!

PFL — Fri, 16 Oct 2009 08:54:14 -0800

I don't like my job and I'm tired of trying to like it. I just want to quit but I'm afraid of what will happen if/when I do. Requisite long backstory: I've been employed for about 5.5 years at my current company. First 4.5 years were great, then a year ago, amidst some layoffs, I got transferred from a financial analysis role to an accounting role (basically managing the accounting of our business units). I was misled about what exactly I would be doing, but I think that was more due to poor planning than dishonesty. I took on more responsibility, started managing people, etc. but didn't get a raise/promotion or even a title change. I think I was supposed to be happy to keep my job.

I am bored senseless doing this, I'm not very interested in learning what I do, and I don't think I'm very good at it. I've basically been doing the minimum I can do to not get fired. I had the worst performance review of my life during the summer, and my bosses know I'm mentally checked out. I had a very good reputation in my old role, but I'm sure it's taken a good hit amongst my superiors because I obviously don't care. So I wonder how repairable this situation really is even if I start kicking ass.

But I look at what it takes to get ahead in this department, or even do my job at the best of my ability, and I have no desire to do it. I've already talked to my bosses about my unhappiness with the role, and it really went nowhere. There's not much flexibility budget-wise to create a new position (or even my old one), so there's nowhere for me to go.

I have a mortgage, but I have roommates to offset that cost by about 50%. Not counting their income, I have enough in savings to get by for maybe 7-8 months if I live frugally. If times got really desperate I have another $15k in a 401(k) that I could draw from (before penalties). I'm in my mid-late 20s, no kids.

I just need to get out of this situation but I don't know the best way. I don't want to look for another job in this field because I hate it, and I have no idea what else to do. I feel like quitting is the only way to force myself to make a change. I know it's not, but I haven't been helping myself get out of this situation. I feel like a weight will be lifted off my shoulders when I do it. But I'm terrified of being unemployed.

I've read other AskMe's about this. I don't feel like I'm being underpaid that badly, or mistreated, I'm just tired of underperforming at something I hate.

Am I an idiot for quitting? What do I need to think about that I might have overlooked? Should I quit? What have you guys done in this situation?

The Bored Psychologist

chaoscutie — Thu, 08 Oct 2009 13:19:34 -0800

Please help me fill up my time. I am a psychologist in private practice, and thanks to the recession, I have multiple times during the week with nothing to do--this is a new experience for me, and aside from the anxiety of not working as much as I need to, I am also bored to tears. Unfortunately, it is an hour here and an hour there--never any good block of time, and although in the future I may have to rearrange my schedule and put all my hours together, at the moment I am trying to maintain hope that I will be able to fill those hours with new patients. I am sick of surfing the internet, going for walks, updating patient files, and reading whatever (professional literature, novels). Any suggestions, Mefites, for how I can spend my time more productively, or at least entertainingly?

Lean Times

Rocket26 — Thu, 27 Aug 2009 09:22:16 -0800

I'm working on a theme based zine/journal and need help brainstorming for the latest issue. It's about the recession. It's going to be related to the recession. It could be something like "pinching pennies" "lean times" or "the bread line". Looking for other phrases that get to the root of the recession. Anything and anything will be considered.

Help me research the underemployment reporting divide.

JaiMahodara — Mon, 24 Aug 2009 14:14:45 -0800

Is work/trade, or any kind of non-monetary exchange of goods and/or services currently under statistical analysis? With new definitions of unemployment flying rampant (un- vs. underemployment, those receiving benefits vs. those who have given up, those still looking for work vs. those who have given up, those who are qualified for higher pay or larger social contributions bc of skills or education, etc etc etc), has anyone found quality research on non-paycheck-based trade?

I'm currently employed part-time in Portland, OR and trade different skills for services, training, knowledge, and goods from four different organizations and co-ops--aka, earning my Masters in Recession. I've earned a ("real") BA and would like more $$ but would also regret giving up this lifestyle to sit in an office from 9-5.

I'd like to cover this story. Fact-finders will be credited, so suggestions on where to submit also encouraged.

Work vs. love, recession edition: How to deal with concurrent uncertainty with love and career choices in an abysmal economy?

LecheFresca — Wed, 05 Aug 2009 11:58:33 -0800

Work vs. love, recession edition: How to deal with concurrent uncertainty with love and career choices in an abysmal economy? I finished graduate school with a degree in a supposedly recession-proof profession last January. Seven months later, I'm still unemployed due to a frozen Northeastern job market. My partner finishes graduate school next month and the underwhelming number of job opportunities in our respective cities has tipped us into an anxiety-laden frenzy.

We live 2 hours apart, as we have throughout our relationship. The distance has not been an issue, as we see each other at least twice a month. We're very much in love and have both vocalized our concern about the looming possibility of work-related separation. While we agree that we have to do what's necessary to gain work experience, neither of us wants to break up. My partner is someone with whom I'd like to have a committed, long-term relationship, though neither of us is ready for a formal commitment (i.e. engagement). We've discussed having to relocate individually, either to our hometowns (cities in different regions where we can live rent-free and get that year of experience) or to places where we are offered jobs, as neither of us can afford to live in our current cities much longer without steady income. We're looking for jobs in the same cities and regions, but haven't had any concrete conversations about moving together or its implications because we have another month to exhaust remaining avenues in our current cities.

Since I've been unemployed longer, my partner has encouraged me to worry about myself first, saying we'll figure us out as we go along. I don't want to get ahead of myself, but I'm very anxious about what will happen over the next few months. My partner is very important to me, and the possibility of not seeing them is very upsetting. I feel like I should consider the multiple positive and/or negative outcomes of our current situation so I'm not blindsided.

Though I know each situation and relationship is different, I'm somewhat lost in how to process and proceed given the circumstances. I would really appreciate some objective input. For anyone who has been in a similar situation...
- How did you and your partner deal with the stress and uncertainty of choosing work over love, or vice versa?
- How did things work out for your and your partner?
- When did you have the serious "relationship talks", if at all?
- If you chose to maintain a long-distance relationship, how did you make it work?

Thank you so much for your help.

Will work for the ability to make my mother STFU!

notjustfoxybrown — Sat, 01 Aug 2009 12:23:53 -0800

Job-hunting filter: So I've just been informed by my always- supportive mother that I am not doing everything possible to find a job after being laid-off two weeks ago. And she, of course, would know, since she hasn't looked for a job herself in 20 years. But she does watch a lot of CNN and apparently, I'm not thinking outside the box enough when it comes to the hunt.

I informed everyone I knew the day I was laid off that I was looking for work (in regulatory compliance, public affairs or government relations.)

I just recently joined a local professional organization. I scour the 'net daily.

I have a stellar resume, tailored for each position I'm seeking. It's been proofread. My cover letters have always gotten compliments. (For the last three jobs for which I was hired, all three interviewers mentioned the quality of the cover letter.)

I always send my resume through the requested method and then find out who the hiring manager is and contact him or her directly, by both email and snail mail. (In only two weeks of looking, I've already gotten a positive response from a hiring manager for a job that does not close until Aug. 6 ... and because it's government, they have to hold to that but judging from the fact that he responded to me the same day, and very positively, I'm hoping for an interview.)

I even contacted someone whose job I previously turned down in March (obviously not knowing that I was soon to be laid off) and asked if he had any openings. I'm in Arizona. The market seems to be looking up in my chosen fields. My mother says I should be looking in D.C. because they have the country's lowest unemployment rate but after moving almost every other year for a good 15 years, I'm trying to make Arizona home ... plus I don't have any money to finance a relocation.

So what's left? Do I need to do a 3-minute video presentation of my skills? Have my resume delivered by parachute? Show up at the HR office in a bikini? (Because my mother didn't have any ideas, just, as usual, criticism.)

Thanks.

Doing well at a job I'm overqualified for

Anonymous — Wed, 22 Jul 2009 13:29:11 -0800

What can I do to thrive and forward my career in a job I am overqualified for? I'm about to start a job that I am overqualified for. Mind you, this isn't just my opinion - between the time I applied and when I was offered the position, the position was actually re-listed at a lower level. I have a decade of experience and an advanced degree in my field, while the position requires a bachelor's degree and 2-3 years of experience.

I took the job for a few reasons:

- The firm is well-respected, progressive and offers good opportunities for advancement.
- I would be getting in on the ground floor of a new project, so there should be lots of opportunities to prove myself and take on higher level responsibilities.
- I've been unemployed for the better part of a year: a bird in the hand, etc.
- I'm personally excited about working on this project for this firm - I think it has the potential to be very personally rewarding.

Despite all these great reasons to take the job, I am a bit concerned about the realities of working in a job I'm overqualified for. For instance, I'm worried that I'll get bored with my assignments, especially at the beginning, and that this will negatively affect my work. I'm worried that if I spend too much time on tasks that are fairly easy for me, I'll become stagnant in my career. At the same time, I don't want to be that annoying new person who thinks they're too good for the grunt work. How do I balance all this?

And then there's the ego issue. I wish this weren't a factor, but I'm only human, and there's a small part of me that feels like a bit of a failure for taking a job that I probably could have gotten five years ago. But I know this isn't my boss's fault, and I want to do everything I can to keep this from becoming a bad work attitude.

Granted, this is a better problem to have then "crap, my unemployment benefits are about to run out." I'm really grateful to finally have a job after months of unemployment, in this crappy economy, and I want to do the best job I can. So hive mind, do any of you have experience with this, either from my position, or from the POV of being a boss to someone in my position? Please share your wisdom.

Email for follow-up questions, or if you want to share advice privately: askmethrowawaywastaken@gmail.com

Is it too late for me to become a scientist?

UseyurBrain — Sat, 06 Jun 2009 13:37:47 -0800

Can I still have a career in science? This economy caused both my spouse and I to lose our jobs and to relocate to find new employment after a 10-year corporate career. Thing is, I hated that career and only loved the money. Now, I am at a crossroads in life. I love science. But, at 41 with a family, is it not too late to go down this path? All I know is that starting my business career all over again is crushing my soul, and yet I spend weekends reading books about string theory.

How does one actually make a bindlestick??

Smarson — Tue, 19 May 2009 09:35:48 -0800

Ideas for a Recession/Depression themed Birthday Party? Was planning on having a big blowout this year since I never usually do much for my birthday, but with the economy being what it is and some of my friends landing on harder times I decided to go the opposite direction and do a Recession/Depression themed party at my place.

Some keywords/images I keep kicking around in my head but can't seem to make any kind of theme out of are:

*Tweed Jacket with elbo patches
*Opened cans of beans
*Crashing stock market
*Bindle - stiff / stick
*Hobos on a train
*Things being consumed out of Mason Jars
*Burn barrel

I'm in desperate need of costume, decoration, and food/drink ideas. Suggestions?

How broke is broke?

JuiceBoxHero — Wed, 13 May 2009 10:45:01 -0800

When people say they're broke, do they literally have no money? With or without the current recession, do people who rack up credit card debt, default on their mortgages and miss payments on loans really not have any money? As in, are all of their bank accounts actually at zero?

It seems that if I were in a position where I was up to my eyeballs in debt and/or were about to foreclose on my home, I'd tap into my 401k, IRA, investments, savings accounts or whatever else I had to continue to provide for my family. So when people choose default or bankruptcy, have they already exhausted these resources (assuming they existed to begin with) or do they just not have the current inflow of cash to support their lifestyle, but hold on to any other resources they have?

Where do realtors go for their commercial real estate market data?

gum — Fri, 24 Apr 2009 08:20:26 -0800

Our landlord wants a five percent per year increase to renew our office lease for two years. Where is the data that shows the commercial market is going the other way? We're a struggling nonprofit in a more-depressed-than-average city in the San Francisco Bay Area, and it's anecdotally obvious that nobody is trying to raise commercial rents here in this economy. I'm having a harder time than I expected finding hard numbers to back that up. (Apartment rent trends are easy; the commercial market is what's baffling me.) Where do real estate professionals, say, get their market data for commercial leases in a particular geography? I suspect that data could be decisive in the lease negotiations we're about to undertake.

How do the stimulus funds get to where they're going?

shotgunbooty — Mon, 20 Apr 2009 09:06:27 -0800

Stimulus filter: Help me understand how the funds get to where they're going. I am trying to understand as much about the ARRA 2009 as I can. I love this infographic from the Washington Post for seeing what the funds will be used for.

Now I'm trying to understand how the funds get there. What levels government the money has to pass through to get to the end recipients. What would a flow chart look like? Would it look like: ARRA-->Federal Agencies-->States-->Cities/Counties-->Local programs-->Individuals?

Can anyone explain how it works, or point to resources that can? (I'm aware that I can read the whole bill online). Thanks!

Sacrifice, Future, Family, Bankruptcy...

Anonymous — Thu, 02 Apr 2009 11:09:41 -0800

I'm currently working on my MBA at a relatively prestigious business school and am coming to understand that my parents are in a grave financial situation that may lead to them having to file for bankruptcy. My father's been unable to get steady work for the last year or two and my mother's income isn't large enough to maintain the household and service their debt. In all likelihood they'll lose their house in two to three months unless something dramatic happens. I'm considering dropping out of school and returning home to help them weather the storm but I don't know a) if they'd be able to stomach it, b) whether I'd be able to find a job quickly enough to fend off the fallout, c) if I'm really serious about doing this, d) if this is the right thing for me to do, and e) what it'll mean for my future. I'm really not too sure what else to write. I come from a pretty specialized professional background and have no idea whether I'd be able to get a compatible job back home. If you have any questions I'll try to elaborate so long as I can do so anonymously. I keep asking myself 'what would a man that I admire do in this situation' and have yet to come up with an answer....

Keeping The Lions Strong So They Have The Stamina To Hunt The Gazelles

turgid dahlia — Thu, 19 Mar 2009 15:55:19 -0800

Why is all this money going to industry and commerce, not the citizenry? Ok, this is a dumbass question, but I've not actually seen it answered anywhere, so I figured I'd ask here. I'm not that familiar with economics so I'm only going by my own simple logic, which is sadly for me not applicable to the world at large.

Why are these hundreds of billions upon hundreds of billions of dollars going from the US Treasury to a demonstrably incompetent financial sector, and not to the population? You know, the ones who are losing their homes because they can't afford to pay them off, because they lost their jobs? If the money went to them, or was administrated such that it was injected directly back into mortgage payments, wouldn't this have the same overall effect, and actually be of greater benefit to a greater number of people?

If someone could enlighten me, that would be great.

Financial Advice for Dummies.

ElmerFishpaw — Fri, 06 Mar 2009 11:15:17 -0800

This has my parents spooked. Tell me how to ease their financial fears. I guess what was supposed to be safe ("FDIC Insured") is no longer so safe in their eyes. Are they right? They have pretty much their entire savings in an ING savings account and are way spooked. Can you link me to something saying ING is safe and FDIC insured means "Youre all good Mom, dont worry."?

Unless, of course their fears are actually valid. Then what should they do? What should any of us do?!

Know any screenwriters trying to write the next Wall Street?

matthewstopheles — Thu, 05 Mar 2009 17:27:30 -0800

Screenwriters working on scripts related to current economy I'm doing a radio story on screenwriters writing scripts about Wall Street in light of the current recession. It doesn't even have to be Wall Street -- it can be any business related to the fall out and decline of the stock market. Business-y type stories are certainly preferable but anything along those lines is what I'm trying to find. Anyone working on anything themselves or have any friends or associates who might be? Anyone know of any projects underway that deal with those issues? Any MeFites want to just start working on something and I'll profile you?

Responses that want to go into detail can just use my MeFi email to get a hold of me.

Why are all the newspapers talking about libraries this weekend?

crazyray — Sat, 28 Feb 2009 22:26:11 -0800

Why is the (supposed) story about libraries and the recession seemingly spontaneously appearing in every single newspaper this week? I understand how wire services work, and how newspapers often "borrow" stories from one another, but why is it that suddenly every newspaper is running a story about how libraries are affected by the current economic situation? Each story seems to be sourced uniquely but written with similar storylines. Examples: 1 2 3 4 5

There are a lot more available on google, but almost all are dated in the past three days. This seems WAYYYYYY to coincidental to me. Is there a single PR agency at work here? Jessamyn, can you weigh in on this?

What were the social impacts of the lost decade?

alms — Thu, 26 Feb 2009 20:00:03 -0800

What were the social impacts of the lost decade in Japan? Yes, I know economists are all about growth-growth-growth and if you don't have it you're a failure. But what were the actual impacts on levels of personal happiness and satisfaction? Everyone is wringing their hands about the possibility of an American and/or global "Lost Decade". Is that really something to worry about?

Yes, I know that people will lose their jobs, companies will go out of business, and fewer people will be buying large cars, flat screen TVs, and McMansions. It may be a little while longer until you get your MacBook Air.

But setting aside the GDP and material-wealth-related numbers, what actually happened in Japan during the lost decade? What happened to the people? Did depression, suicide and divorce rates go up? How about hunger, child mortality, violent crime? Life expectancy? Copulation rates? (I guess economists probably don't track copulation rates, but I wish they did.)

I ask because all the discussion of a possible long-term slump paint it as a priori disastrous and undesirable. But it strikes me that there could also some positives, for example in helping slow the rate of carbon emissions. I've read that people also tend to be healthier during recessions, as well.

Should my recession dollars go into my 401k, or my wallet?

logovisual — Tue, 17 Feb 2009 15:03:38 -0800

Where is my money doing me, and the world, the most good right now: going into a 401(k), or going into my wallet and getting spent? I'm in my mid-twenties, in a stable but low-paying job that I expect to be in for a while (he said, in a fashion that he hopes does not prove ironic). I am basically living paycheck to paycheck in NYC -- not starving, but not really saving in any meaningful way whatsoever beyond my company 401(k), which has quite a good matching program. For the last couple of years, I've been paying the maximum match into my account, and had built up a reasonable little stash (about a third of my annual salary) only to, of course, watch it take a 30%+ hit over the last few months. I only have a couple thousand dollars in credit card debt, which I would like to pay down/off, but the tight squeeze for what's left over from my paycheck doesn't really allow for that.

I was rebalancing my 401(k) into some less aggressive investments today -- I know that I am young, and there'll be plenty of time for a rebound, but there's no sense in wasting money when you know the market is probably still on its way down -- and began to wonder where my dollar is doing the most good for the economy: going into investments, or going into my wallet to be spent on consumer goods? And yes, that definitely is where it would go if I reduced the percentage of my paycheck that goes into my 401(k): food, home goods, etc.

Thoughts on this matter? I am obviously loath to give up much of the "free money" that comes from a company match, but I am also loath to watch every dollar I put into my 401(k) turn into sixty-five cents when it could turn into a dollar's worth of food, or furniture, or entertainment. And on the larger scale, do I help America more by buying a new couch instead of another share of a mutual fund? Should I reduce (not eliminate) my contribution to my 401(k)? Or stick to business as usual and try to make my budget work another way? I'd like to hear some thoughts that go beyond the conventional wisdom of "you should never ever stop paying into your 401(k)," unless you can make me see that argument in a whole other way.

Any good books about 'stone soup' days?

Catch — Sun, 15 Feb 2009 15:34:40 -0800

I'd like to read some good books, preferably autobiographical, about managing a household in hard times. For purposes of 'professional development' and generally cheering myself up about being the housewife in a single-income family, I have a craving to read good books about successful living on low resources.

Please recommend some! First-hand accounts preferred - depression-era, wartime, or just circumstantial modern hard-times.

If not now, when?

Anonymous — Sat, 07 Feb 2009 09:01:08 -0800

In this economy is it a bad idea to relocate for an IT job? (asked anon because no need to advertise to my bosses that I am thinking of leaving)

I am a mid-30s male and I currently work as a high level programmer in a dead-end job. The job is not a problem in its day to day work, but in a meeting with management I was outright told there is no advancement for me in the company and that the work done by my department is not really seen as important; we programmers are seen by management more as a necessary evil than an experienced, professional team. This crushed all of my morale. Normally this would be where I would be enjoying the smell of warm laser toner off freshly printed resumes, but with all the really bad news about jobs that I read daily in the news I wonder if I should alter my playbook.

I've worked here over a year. It's a company related to the medical field and seems financially stable. And while I will not be able to advance in my current role, I don't think my job is in jeopardy. I can tred water here; I am just unhappy to do so.

But in my region there appear to be very few high level programming jobs available. There have been thousands of people laid off in recent months, unemployment is high. In my looking, I found that I will likely have to relocate if I want to find a job with advancement opportunities and matching my current salary (currently there appear to be quite a few tech jobs in Atlanta, GA).

My question is this: given the economy, how bad an idea is it to switch jobs from one where I'm not likely to become unexpectedly unemployed to a totally unknown situation? Even if I choose a large, national company they are not immune to layoffs, and in a new job I'd be "low man on the totem pole."

I don't want to wait forever...I'm not getting any younger and this is the time where I am energetic and willing to work hard to keep advancing my career. But assuming I get a job offer, is now as good a time as any to pull up roots and move my family to new locations where my wife and I would both need new jobs, or should we stay put until things start to improve?

How Will Daily Life Change During This Slow-Depression?

raikkohamilonso — Thu, 29 Jan 2009 23:02:31 -0800

How is daily life going to change over the next few years - because of the Slow Depression? I'm starting to see trucking companies with lots of trailers parked. Roads seem to be getting pretty bad. Banking system is basically on the way out. Major retail seems headed to the bottom as well.

I'm presuming food is going to start going up at some point. Gas as well. Distribution of goods/services seems to be at risk? Are there angles that are not obvious? Is anyone planning for this?

How long will this economic crisis last?

hazyspring — Thu, 29 Jan 2009 15:15:22 -0800

I am looking for articles or blog posts of economists predicting what is going to happen with the economy over the next few years. I read economics blogs regularly but am wondering if there is a blog compiling this information or if people can point me to some specific excellent articles or blog posts.

I'm specifically looking for predictions on how long the recession will last, how much further the stock market needs to fall, etc. I know I have read these articles, I just never bookmarked them. I really want stuff that is based on factual data and not just an opinion piece.

How do I best arm myself for an upcoming salary/bonus review in this economic climate?

Anonymous — Mon, 26 Jan 2009 10:46:18 -0800

How do I best arm myself for an upcoming salary/bonus review in this economic climate? I guess I'm what you might call "upper-management" at a small tech company. Like many others, our company is looking to cut costs and we will likely have a few layoffs later this month. I, and others, have already been informed that any raise in our base salary is off the table for now. However it has also been noted that pre-existing bonus clauses (such as the one I have) are still available.

So the thing is, for the last year I have been as busy as ever (actually more so), mainly because I have a skillset that only a few others have, and as a result I've been extremely busy and IMO was a huge part of helping to land a contract with a Fortune 10 company that was worth a lot of money for the company.

So, my bonus isn't particularly huge by any standards, it's capped at $5k. However, I know from past experience that my bosses treat all of these situations as bargaining sessions. So last year I walked out of the review with a $3k bonus. However, this year, based on the revenue I feel I helped bring in, plus other criteria such as hitting or beating project deadlines, I feel I deserve the entire bonus.(Especially since there will be no change in my base salary).

So I need strategies for this upcoming session. There have already been comments such as "Well, we're all lucky we even have jobs" and other signs that this will not go my way. In addition to this not quite being rooted in reality, I have realized my bonus structure is not based on objective facts, but is incredibly subjective. This was a mistake on my part when I arranged the terms of my employment, however this is my situation.