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Are you worried about future job and financial security ?
I am worried about my job security. 0 (0%)
I am not worried about my job security. 3 (27.3%)
I have retired or will retire shortly so I no longer care about my security. 1 (9.1%)
I have already been made redundant or my hours have been cut back as a result of the crisis. 0 (0%)
I don't have a job and think it is now harder to find to work because of the crisis. 1 (9.1%)
I am currently out of the workforce so not concerned at this time. 0 (0%)
I am worried about my retirement savings and may have to work longer to make up the losses my fund/plan has incurred. 0 (0%)
I have lost a lot of money (on paper) and am worried about my financial future. 0 (0%)
I have not been effected financial by the crisis yet. 1 (9.1%)
I don't expect to be effected significantly if at all by the crisis. 4 (36.4%)
I am too rich to care. 0 (0%)
Mummy and Daddy will bail me out if I get into financial trouble - I hope. 0 (0%)
Big brother has bailed out my employer and my financial future has improved as a result. 0 (0%)
I don't have enough money or investments to care. 0 (0%)
Fes' option. 1 (9.1%)
Total Votes: 11
Security
Topic Started: Oct 30 2008, 12:54 AM (133 Views)
somerled
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Admiral MacDonald RN
Are you worried about your financial security and job security as a consequence of the financial desaster started by those greedy amoral SOBs in NY ?

Pick two.

Have fun , be honest.
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Swidden
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Adm. Gadfly-at-large; Provisional wRench-fly at large
No I am not worried about my job security, but yes I have felt the effects from the stock market's fear driven volatility. I remain long term bullish, but short term bearish.
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somerled
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Admiral MacDonald RN
I am seriously considering retiring or winding back my work significantly shortly to have more personal freedom to persue non-work interests and activities , I don't want to do what my dad did - working hard all his life (he chose not to retire the family business until he was 70 yrs old , and was dead 12 months later).
I am not concerned about my personal job security.
I can afford to retire now if I want too , and an not all that interested in remaining a consultant much longer , the PhD will not be an issue , I can do that at my leisure , my grant will be continue for up to another 4 years.
Mind you if I get a great offer for a suitable lead or principal level engineering role that is permanent and with a good company , I am prepared to postpone retiring for several years.

My investments and savings and assets are doing OK and are protected. So I don't expect to be significantly effected by the crisis.
Edited by somerled, Oct 31 2008, 03:02 AM.
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Mel
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Coffee Lover
I am a student, and I attended an ITC showcase yesterday with LOTS of prospective employers in my province, in my field. So I'm not worried about getting a job after I graduate. (I know it's not the exact question, but it applies to me.)
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somerled
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Admiral MacDonald RN
http://news.bbc.co.uk/2/hi/business/7699884.stm

Quote:
 
US economy officially shrinking

The US economy shrank at an annualised rate of 0.3% between July and September, according to figures from the Commerce Department.

The gross domestic product (GDP) figures were better than expected, although they show the sharpest contraction of the economy since 2001.

Consumer spending, which makes up two-thirds of the US economy, shrank by 3.1%, the first contraction since 1991.

The 0.3% fall followed 2.8% growth in the previous three-month period.

Company results

The growth data came on the same day that some of the US's biggest companies reported their results for the July to September period:

Broadcaster CBS made a loss of $12.46bn (£7.59bn) in the quarter. This included a write-down of $14.12bn-worth of media assets
Electronics giant Motorola reported a loss of $397m for the quarter, compared with a profit of $60m a year ago, largely due to falling mobile phone sales
Paper and packaging company International Paper reported a 31% fall in profits to $149m and warned demand for its products had fallen
American Express, the credit card issuer, announced plans to cut 7,000 jobs as part of a plan to save $1.8bn by the end of 2009
On the positive side, photographic company Eastman Kodak's profits jumped to $96m for the quarter, compared with a $37m profit in the same three months last year
Personal care product maker Colgate-Palmolive reported profits of $499.9m for the quarter, up 19% on the same period last year
Recession judgement

The GDP figures showed that spending on non-durable goods, which are smaller purchases such as food and paper, dropped at its sharpest rate since 1950.

The economic shrinkage means that the US economy is halfway to the standard definition of a recession, which is two consecutive quarters of negative growth.


But the official definition in the US is different, meaning that the US economy is never officially in recession until the National Bureau of Economic Research decides it is.

Nevertheless, the Federal Reserve is clearly concerned about the US economy and cut its key interest rate from 1.5% to 1% on Wednesday.

"Consumer spending is about 70% of GDP and this looks like the lowest it has been in two decades, which goes to show that in the fourth quarter, we are going into recession," said Bill Walsh, president of Hennion and Walsh in New Jersey.

The GDP figures were accompanied by Labor Department figures showing the number of new claims for jobless benefits last week.

There were 479,000 new claims in the week ending 25 October, which was the same number as the previous week, but still a high number, suggesting that the problems in the economy are feeding through to the job market.


See no need to start another thread on the job and economic security topic , and this is relevant.

So are the republicans and neocons here going to continue denying their country has economic problems that are not just limited to the subprime scam and the financial sector cockup ?

Obviously some people here who are in working in sectors that are dependent on continued sales of consumer goods and services , and also in the service sectors and I will add engineering service and contracting sectors, have now become very much more vulnerable (contractors and casuals and others who are not in jobs with security of long tenure are easier to standdown and cheaper to as well).
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somerled
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Admiral MacDonald RN
Mel
Oct 31 2008, 06:01 AM
I am a student, and I attended an ITC showcase yesterday with LOTS of prospective employers in my province, in my field. So I'm not worried about getting a job after I graduate. (I know it's not the exact question, but it applies to me.)
Hope you are right , you'd be starting at junior rates so you are probably reasonably OK so long as your academic transcript shows you performed very well in your studies (that's really all they have to go on).

Try to get a employer who has a very good reputation in how they treat their new and long term employees and which has top employee benefits , and very importantly a formal graduate program.

Graduate programs are not something to pass up , believe me , getting thrown in at the deep end and by -passing the company's graduate program (which is what happened to me when completed my first BSc and the again when I completed my first BE ) might be exciting and challenging , but you miss out on valuable training opportunities and experiences that are hard to make up.

Good luck.
Edited by somerled, Oct 31 2008, 06:46 AM.
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