How much worse is the work economy going to get?

[copynpaste]

I was told that its going to get a lot worse in the 2nd half of the year. Is anyone else havibg trouble finding work? My hours have been cut back since feb and been trying to find a second job but there just isn't many companies hiring these days. Go on monster, workopolis, the ads are only a fraction of what was up there last year.

[Dumbass17]

i tend to be pessimistic so without any knowledge, i say it's going to get worse for sure.

[Ebon]

Varied opinions.

Short answer: no one knows the future

Long answer:

Plenty of guesses going on.

Some think with the slowing rate of job losses, the economy is moving towards a recovery with improved employment, growth, etc. Could be a slow (years) or fast 1.

Some think the biggest losses will occur later this year, even as the economy recovers (jobless recovery).

[Graham_A_M]

Whenever there is a dive in the economy, the job market is always the slowest to recover. I find the common consensus is that things are generally picking up. A few friends in the investment/financial sector remark that the markets seem quite stable.
Like I mention however: I dont think the job situation will get any worse, just better... very slowly however.

[vengie]

I have been looking for a class-1 or 3 driving job for about a month, and slowly I have noticed an increase in the ads posted in the paper, I have even had a couple pre-lim interviews. IMO I'd say its slowly picking up.

[thrasher22]

The market has been climbing pretty quickly since march, so its a sign things are definitely picking up... I just hope its sustainable

[eg_eric]

well things have slowed down all around, and i've also been looking for a night job to help pay my rent, but not many companies are hiring right now.

[Speed_69]

Originally posted by eg_eric
well things have slowed down all around, and i've also been looking for a night job to help pay my rent, but not many companies are hiring right now.

i'm looking for a night/weekend job as well to help with my financial situation but no luck as well.

[Ebon]

"The International Monetary Fund says that a global recovery in 2010 may expand at a 2.4% clip, faster than it had anticipated, while the World Bank estimates that 2009 will be worse than it figured."

[rc2002]

Originally posted by thrasher22
The market has been climbing pretty quickly since march, so its a sign things are definitely picking up... I just hope its sustainable

Nope. It's all due to the government support. It'll be a while before the private sector recovers, and the governments can't keep dumping money into the economy indefinitely.

Unemployment is going up.

See Mark Carney's speech:

http://www.theglobeandmail.com/globe...rticle1177984/

...[snip]
Speaking at the Conférence de Montréal, Mr. Carney said “more capital” will be required to put the world's banks back on solid foundations, and that a healthy financial system is a prerequisite for a rebound. That will come, but not before many more people across the Group of Seven richer countries lose their jobs, the Governor said.

“Although global demand and trade levels appear to be approaching a bottom, and inventory and labour adjustments have already been substantial, there is still more to come,” Mr. Carney said in a seven-page speech, which was released to reporters in Ottawa.

“Unemployment will likely rise further across the G7, with the sharpest increases still to come in those economies with the least-flexible labour markets.”

Mr. Carney's remarks will come as a reality check for investors confusing the current glimmers of hope that the worst of the recession is over with a return to the heady days of rapid financial growth that preceded the crisis.
[/snip]...

[reijo]

Wait for the 'States to pick up and wait 6 months for us....or the next spring whichever is later. There is still another round of sub-prime mortgages to go through this summer.......the bottom will continue past that point at the least.

R

[ercchry]

well the O&G shit has apparently* not hit the fan yet, but judging the work economy by the amount of rush hour traffic there is i would say it is starting to recover.

my place of business is also doing pretty good, they actually just broke the record for the single biggest contract in the history of the company this past week, a few internal job openings as well...

*this information courtesy of someone that sits on the board of a O&G company

[Sugarphreak]

Things are picking up into the summer thanks to the higher oil price

[Ebon]

Alberta expects bitumen production to double by 2014.

Will prob. help calgary recover faster than the rest of the country. Esp. now that the stimulus plan is underway.

[Sugarphreak]

....

[badatusrnames]

Originally posted by ercchry
well the O&G shit has apparently* not hit the fan yet, but judging the work economy by the amount of rush hour traffic there is i would say it is starting to recover.

my place of business is also doing pretty good, they actually just broke the record for the single biggest contract in the history of the company this past week, a few internal job openings as well...

*this information courtesy of someone that sits on the board of a O&G company

I think a lot of companies were worried that if oil priced stayed depressed they were going to start running into serious problems and have to shut in wells that weren't economical to work over. The period of low prices at the beginning of the year definitely stressed companies bottom lines, but it didn't really reach breaking point bad. I think everyone is breathing a little easier now that things are looking better.

However, natural gas prices haven't really seen the rebound that oil has...

Still doesn't seem to be a whole lot of drilling going on. Or, I've heard of gas wells being drilled (they were already scheduled) but left shut in until prices pick up.