Continuous Decline
A recent study has revealed that 39% of Americans believe that the economy is on a decline that will not be reversed. I have been through many declines and have always believed that a recovery would manifest itself in the future. Now, here is a study in which people do not believe it will recover.Of course, before there were some people that feared the end of our Country was near - but nowhere near 39%.
When I graduated from Wayne State University in 1962 some of my classmates were looking forward to recruiters that would come on campus and interview graduates for openings they had. In late 1961 we had an economic pullback and the recruiters cancelled all interviews much to the chagrin of the graduates. I had a secure job at Ford and did not suffer from that pullback. When I asked some of my classmates what they were going to do some said they would continue on and get a Masters Degree, no need to try for a job.
In 1968, the last year I was working on my MBA from the University of Miami the same thing happened, all recruiters cancelled their appointments. Once again I had a secure job this time with 3M Company. I recall the day everyone was informed that job openings were non-existent, the long faces were everywhere and some were most depressed. In neither case do I know when the recruiters returned to the campus but it could not have been too long because the economy always came back.
While I do not know for sure, there must be some depressed people in the graduate ranks of our universities. Very few companies are hiring in this economy, most are concerned with the uncertainty in the future and will marshall their resources. Perhaps Erika could comment on this post and let us know how things are going as she sees them.
The continuous decline seen by many comes from the knowledge that the Obama administration has done nothing to improve the private economy and create jobs. Three times, in the last two years, Obama has said he would focus on jobs like a lazer but has done nothing but create government jobs. He has gone out of his way to destroy industries like oil, coal, private airplanes, pleasure boats and others. (The recreational vehicle industry in northern Indiana has been greatly diminished. I used to call on them for business but many of the compaines I used to call on are no longer in business.) The business community does not know when this will all end. When I was with United Technologies I helped to make business plans for any possible upturn in demand, we wanted to have equipment and materials ready to order, space available and people already interviewed ready to go. I am not aware of any companies that are doing planning of this kind at this time.
When I graduated from Wayne State University in 1962 some of my classmates were looking forward to recruiters that would come on campus and interview graduates for openings they had. In late 1961 we had an economic pullback and the recruiters cancelled all interviews much to the chagrin of the graduates. I had a secure job at Ford and did not suffer from that pullback. When I asked some of my classmates what they were going to do some said they would continue on and get a Masters Degree, no need to try for a job.
In 1968, the last year I was working on my MBA from the University of Miami the same thing happened, all recruiters cancelled their appointments. Once again I had a secure job this time with 3M Company. I recall the day everyone was informed that job openings were non-existent, the long faces were everywhere and some were most depressed. In neither case do I know when the recruiters returned to the campus but it could not have been too long because the economy always came back.
While I do not know for sure, there must be some depressed people in the graduate ranks of our universities. Very few companies are hiring in this economy, most are concerned with the uncertainty in the future and will marshall their resources. Perhaps Erika could comment on this post and let us know how things are going as she sees them.
The continuous decline seen by many comes from the knowledge that the Obama administration has done nothing to improve the private economy and create jobs. Three times, in the last two years, Obama has said he would focus on jobs like a lazer but has done nothing but create government jobs. He has gone out of his way to destroy industries like oil, coal, private airplanes, pleasure boats and others. (The recreational vehicle industry in northern Indiana has been greatly diminished. I used to call on them for business but many of the compaines I used to call on are no longer in business.) The business community does not know when this will all end. When I was with United Technologies I helped to make business plans for any possible upturn in demand, we wanted to have equipment and materials ready to order, space available and people already interviewed ready to go. I am not aware of any companies that are doing planning of this kind at this time.
posted by Marcel at
5:57 PM
2 Comments:
“The government cannot give to anybody anything that the government does not first take from somebody else.” Adrian Rogers, 1931
Creating public sector jobs in an attempt to fix the economy is like hiring more ditch diggers to get out of a hole. It takes roughly 5 private sector jobs to support one public sector job. Once a public sector job is “created” it is almost impossible to eliminate it. This may be why so many Americans are pessimistic about a recovery.
Our granddaughter Nancy just graduated with honors from The University Of California as a Registered Nurse but is now unable to find a job in her profession as with 98% of her graduating class.
By
John Beauregard, at 8:14 AM
Wow, I had no idea it was that bad. Even in the two incidents I cited there were still jobs to be had but you had to go out to get them.
How many years of this decline will there be before getting a college education will be judged as not worth it? In other words, when will universities begin to shrink because of student body decline.
By
Marcel, at 9:16 AM
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