Sunday, 19 April 2009

 

UK recession 2009-myself

As 2008 turned into 2009, certainly this year, rather than new beginnings, brings with it the end of many careers, the demise of some firm practice groups and a whole lot of management resolutions.
So what exactly does 2009 have in store? Well, so far the UK is officially in recession, and the laughable comparisons with the Great Depression are not quite so humorous now. Having devalued to such an extent that it sank close to parity with the euro, Sterling had a brief moment of appearing on the up – sadly this was not to be.
We watch the week-by-week deterioration of the euro zone economy, and our European counterparts are one step behind us in slowly, but surely, plunging into recession. The UK reduced its benchmark interest rate to 1.5 per cent, the lowest in its 315-year history. And finally, the government just announced its second bank bailout.

Myself
Fortunately, my job still seems secure, but since I have a renewable annual contract there is always the fear that my company could let me go if things get too tough. So I’m not unemployed, but I am underemployed. A friend of mine is in a similar position, and as we talked we realized that we were both underemployed overachievers. We decided to blog about it because we knew that nowadays lots of people are taking lower-ranking jobs just to have a job. It’s hard when you feel like your job doesn’t utilize all your talents and experience, but we have found that blogging about that actually helps us cope.


Suggestion-Lower your overheads,reduce expenses and invest in yourself.

Future-it will better for all ,if we stick to our commitments and do not borrow.

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