Friday, March 15, 2013

Recession

I guess first off I should start by saying that I feel blessed to actually have a job.

Why do I say that you ask?

Well its not like I was/am facing imminent unemployment at any time recently but I just get this feeling that despite the big names and institutions and politicians telling us that the recession is over that we are still in its midst.

Either that or the world has just gone all pear shaped.

Looking around downtown Toronto, and even in the suburbs I see way too many for lease signs on commercial property. Seems like every other week or month I pass some plaza, some previously occupied storefront and see it currently empty. Doesn't matter if its a main street or a side street our small businesses seem to be getting decimated. And not only are existing small businesses being knocked out but where are their replacements. Where are the burgeoning hosts of entrepreneurs who are dying to replace them.


I've seen plazas left with one business out of five operating where two months prior the whole place was full. Maybe its the fault of real estate owners driving up rental costs but is it? 

And ok so maybe in the new economy entrepreneurs don't need storefront property until their businesses reach a certain stage but still all of these empty storefronts seem to suggest to me that despite the positive economists numbers we keep hearing, we really are not doing that well.

More on the economist numbers specifically unemployment. I keep hearing how the unemployment figures are improving, ie the percentage unemployed is decreasing. Ok well maybe that's in the statistics but its really not a reality amongst people I know.

I know quite a few folks who have been laid off and months later still are unemployed and its not that they are unskilled guys either so whats the argument for that? Then there are the numerous recent university and college grads that I know, some with graduate degrees, who either cant get their foot in the door of their preferred career, cant get any job period or are working for almost minimum wage while still struggling to deal with incredible amounts of student loan debt.

Explain to me why that is happening?

3 comments:

Guyana-Gyal said...

Comment while I read...Guyanese people who live in Canada, visiting here, tell me that there's no recession in Canada. It makes me wonder where do they really live.

I'm off to finish reading.

VirginiaC said...

It's happening everywhere, and it's going to get worse before it gets better.
When you get home to BIM, you will see it for yourself.

Jdid said...

GG, I thonk your friends fooling you. It may not as bad as other places but like I say you just got to look around an see the students that cant find jobs and the increasing empty storefronts. The big banks and industries may not be laying off like some other countries yet but they not hiring either.