Due to the economic situation around the world many people have experienced hard times. They are either living paycheck to paycheck or are currently behind on bills and need a fast way to make cash. There are even people that have been recently laid off from their jobs without a plan “B†to fall back on. According to CNNMoney.com “The percentage of those claiming that jobs are currently hard to get reached new high of 49.6%, while the number of consumers claiming that jobs are "plentiful" hit a new low at 3.4%.†And according to the expectation index of whether the situation will get better declined from 73.7 to 65.7 last month. And those expecting the job market to get better went from 18% to 16.3%. The economists predict that Christmas spending will be down and that consumers will not regain spending confidence until late spring of next year. What does that mean to us? It means that things will only get worst and many people are comparing this to the great depression when people were borrowing money from the banks to invest in the stock market. When the stock market crashed they were not able to pay back the banks the money, which had a trickle down effect. Today since so many mortgages are going bad the banks have tightened their lending which is slowing down the economy. How has the economy affected you? Be honest!
It has affected me very slightly but since i'm in Australia, our economy is growing with a GDP of 0.6% right now. Our governments stimulus packages certainly helped keep the economy afloat.
I work in the healthcare sector which is less affected by the current economic situation. Rain or shine, depression or boom, people get sick!
I used to have 2 internet cafe's in PI for more than 4 years but due to economic situation, i decided to closed both shops. The income of the two shops is not enough to pay its overhead. Now, I am trying my luck learning how to make money online....
Yes last time during the first few month of it my sales experience some slow down. But after change the sales strategy,the sales bound back to normal level.
Nobody is spared. For me, I have to drag my price offering to the lowest level just to maintain satisfaction for my customers.
It has been said all along that things would turn around in early 2010. I for one am happy the recession came. Some of us were smart enough to work the markets. There were some amazing opportunities late last year. The key factor for online biz is credit card usage. Banks are canceling cards at an alarming rate. Even people who make their payments on time are having their cards pulled. This trickles down from the merchants to the affiliates to the service providers.
I have been been affected, we've been looking for jobs for a few months now. Heck, I was in the military then I found out I was pregnant. I'm happy but broke! LOL
My work has slowed down, I have altered my strategies a lot and it has help but it is still slow. The Governments lie.. in the U.S. the real unemployment is around 20%- http://www.shadowstats.com/charts_republish#emp and I think most of the western world is about the same. This is going to last a long time…