Effects Of the Great Recession: Personal Losses

A building trades rally for unemploymnt insurance reform in Indiana, 2009.
A building trades rally for unemploymnt insurance reform in Indiana, 2009. | Source

Personal Loss

During and after the American Financial Crisis of 2007 - 2008, some companies like banks and auto manufacturers were called "too big to fail" and provided with federal bailout moneys to keep them afloat. Small-to-medium sized business owners and individuals caught up in the crisis and having lost their livelihoods asked where their own bailouts were (aside from extended Unemployment Payments). These last groups seemed to be met with an attitude that they were not too big to fail, but rather, "too big to cry."

Many of these people lost everything.

Workers lost jobs, smaller companies closed down, storefronts in shopping malls went empty because no one could shop or dine in them any longer, and more businesses closed down. Inndividuals and families lost their homes despite refinancing available, cars were repossessed, families ended in divorce, and additional people i our society became ill, physically or mentally. The domino affect lasted several years.

Global Unempoyment Rates in 2009

Source

Employment and Jobs - 7.5 Million Jobs Advertised Online 5/2013

The graphic above shows increased Unemployment Rates around the world in 2009.

Having worked in Employment & Training (Workforce Development) fom 1995 - 2005, I found that up through 2006, aggregated Internet postings for open jobs in the USA numbered six million or more on average daily until the Financial Crisis hit. Between 2007 - 2012, the numbers fluctuated between six mission and just over three million - usually between 3.5 - 4 million jobs advertised. Suddenly in October 2012, the number jumped to over five million on any day. In 2013, the number climbed to seven million jobs daily - not enough, but rising. These are advertised jobs, not new jobs as claimed by the federal government.

A problem with the increasing jobs is that they involve work that required higher education and sometimes certifications and licensing that the American worker, on average, does not have. Moreover, college students are largely not majoring in the workforce subject areas in which there are indeed jobs now and set to increase in the future. Therefore, they graduate into Unemployment - unemployment among a pool of 7,500,000+ job openings in May 2013.

EXAMPLE:

We (the US) have over 1,000,000 open jobs for Engineers in IT, Manufacturing, and other settings today in May 2013. However, in 2011, only 83,000 people graduated with Engineering BS Degrees, while Master's Degrees in Engineering reached an all-time high of only 47,000. Doctoral Degrees in Engineering numbered about 9,500 and most jobs do not require that level of degree. (Brian L. Yoder, PhD; 2011) Altogether, this makes not enough engineers in America, and 2012 graduation numbers are estimated to be about the same.

Some companies hiring large numbers of engineers: Dell, Schlumberger, Saudi Aramaco, General Dynamics, Deloitte, Microsoft, Amazon, URS, and Intel.

Note: Incrasing nubers eveery year, Mexico graduated 130,000 engineers and technician in 2012. From 2002 - 2012, Mexico doubled the number of public two-year colleges and four-year universities - tuition is less expensive than in the US. (William Booth,October 28, 2012)

Update

At the end of August, into September 2013, approxiately 6,000,000 job listings were gathered from across all Internet listings by job aggregators and search engines like SimplyHired.com.

The employers listing the most open jobs are:

  1. Pizza Hut -- Food service, crew and managment.
  2. Swift Transportation Co. -- Trucking
  3. Telereach Corporate -- Telemarketing
  4. McDonald's -- Fast Food
  5. C.R. England -- Trucking

Source

Where Are the Jobs?

The most jobs are nearly always clustered around the largest cities in America - NYC, Houston, Chicago, Atlanta, Dallas, Minneapolis-St. Paul and others.

I've researched and written several Hubs concderning where to find jobs and what jobs are available in the largest Numbers. These are liked below.

America has an average of over 7.5 million jobs listed across all Internet sites crawled on a daily basis. Additional jobs are not listed on any Internet source, but advertised in newspapers, over the radio, posted to physical job boards in companies, and in other places. Employment recruiters and staffing agencies, as well as University Placement offices are other sources of job listings. Even so, the population likely needs another several million jobs, so competition is real.

In today's job market, employment candidates need to show not only the usual hard and soft skills, but also a refreshing Can-Do attitude and something personally unique that sets them apart from other applicants. HubPages offers 100s of articles on these subjects that can help.

A Story That Hits the Mark

UK author, publisher at Tabitha Books, and music industry professional Graham Sclater of Devon released a 2013 novel called Too Big Too Cry. It speaks directly to the aftermath of the Financial Crisis. Even though set in the UK in 2010, it loudly echos the events of America as well.

Too Big To Cry

Graham Sclater; April 2013

ISBN-10: 0956397751 and ISBN-13: 978-0956397751

254 pages, softbound.


Too Big to Cry is powerful. The story reminds us of ourselves - or at least someone we have known that was affected by The Great Recession. The events and characters in this spellbinding story are surely those that have known i our communities. Their struggles are real and their reactions are genuine.

These people and their might make us more empathetic to our figurative neighbor and I think they will. When people lose everything, they face an endless vacuum, but a bit of human consideration can bring them back.

This loss is the crisis of the book: Brian and Sylvia Chapman and their medium-sized business, Brian Chapman Property Services, receive poor treatment from non-paying customers, embezzling employees, and smarmy banking schemes all at once. They seem too embattled not to fail.

Business declines affect CEOs, their employees, their families, and their communities. This story and its dialogue create a high tension wire of energy throughout. the book. The effects of financial crisis are more profound than we had imagined.

Brian Chapman struggles to keep his business and family alive, but tension overwhelms him. Employees scream at one another. The Apocalypse is coming. The home front crumbles as cars are repossessed and marauders attack.The threads of Mrs. Chapmanā€™s sanity fray.

Too Big To Cry

In considerably reduced circumstances, Brian dresses in his raggedy clothing and takes his "new" dilapidated car and faithful dog on a journey to gain back his losses. He confronts those who hurt his family and business and learns what a man and a dog can do to change a community.

This story is too big not to read.

My Rating Review of "Too Big To Cry"

5 stars for Too Big To Cry

More by this Author


Comments 6 comments

HendrikDB profile image

HendrikDB 3 years ago

A scary and sad story! Thanks.


alphagirl profile image

alphagirl 3 years ago from USA

I experienced two layoffs in one calendar year! What you have witten is a reminder not to overspend because jobs are hard to find. We need to save for our impending job losses which affect us personally.


tillsontitan profile image

tillsontitan 3 years ago from New York

This was a great hub to read Patty. Your opening facts and information should be 'eye-opening' to many who don't understand how 'they' can say their are jobs available and yet there are so many unemployed. You hit the mark with your example of engineers.

As to the book, I think I'm going to have to get it, read it, and share it with a lot of people!

Voted up, useful, and interesting.


Patty Inglish, MS profile image

Patty Inglish, MS 3 years ago from North America Author

The book reminds me of many people that I have known that lost income and property in the recession. Some were able to recover and some, not. Thanks for the comments, tillsontitan, alphagirl, HendrikDB.


Au fait profile image

Au fait 3 years ago from North Texas

Very interesting article. I would only say that the 'great recession' (2nd great depression to those of us who suffered as a result), continues to this day. There are still no jobs and most of us are underemployed when we have a job at all. I personally lost everything -- all my savings trying to survive, and I know lots of other people who lost big and will never recover their losses because they are too old to start again.

Prices and rent have gone up but wages are down and jobs are scarce. I wish someone could explain to me why it's evil to give poor people Food Stamps and Godly to praise the big banks who stole 7 Trillion dollars from the American people by way of homes, retirement funds, property in general, and jobs. and then they got tax dollars as a bonus for doing so.

The big banks are still making out like the bandits they are, but no one objects to that. It seems people only hate the lazy slothful food stamp recipients and that is everyone who receives them in case you're wondering. Why are the institutions that brought the economy of this country to its knees worshipped, but the living victims demonized?

Glad you are shining a light on this situation. Going to share this hub.


Patty Inglish, MS profile image

Patty Inglish, MS 3 years ago from North America Author

Interesting insights, Au fait!

Even though aggregated job postings across the Internet for the US total over 6 million on any day in September '13, we know that these are not enough jobs for those needing work.

In addition, many listed jobs require education and training that a large group of unemployed people do not possess and cannot easily attain. I know that not everyone can be an engineer or engineering technician, or a physican or nurse practioner. A lot of people would need to move in order to benefit from the oil & gas jobs available in ND, OH, PA, and NY. Further, Transportation is the fastest growing industry since the end of August, and not everyone can or wants to be a truck driver.

I'm afraid that some individuals feel that the funds going to SNAP food help comprise tax dollars stolen from themselves. Each month, more people seem more insecure and angrier to me.

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