Although consumer confidence is suppose to be increasing what is everyone's opinion on today's economic forecast? I handle the accounts for a small business in VA and have noticed that customers (on account) are paying late, if at all. And it doesn't seem to be bad customers, but all customers in general. I don't know whether to attribute this to the economy or maybe the clearing out of business accounts in December. January always seems to be slow since businesses have cleared their bank accounts out and have to start over, but it seems unusuallly slow. There also, seems to be a lot more bankrupticies (at least in the area) and jobs are pretty scarce. Personally, hubby and I are doing good although his hours have been cut back about 10% then what they usually are. How has it been in the rest of the country? Do you think we're on the uprise or have yet to see bottom? I noticed I'm being alot more cautious. I have cut down on my spending and am just paying off debt. Probably not the best way to keep the economy going... Is anyone else making any changes? Dani
I live in Texas and it seems to be the same way. Luckily I'm a nurse and we are in high demand everywhere, so I work my full-time job and even do agency work on the weekends for $30+ hr and they want and need me every weekend. The other jobs are very scarce. My mother-in-law has been looking for weeks and can't find a job, even at fast food places. Office Max and Service Merchandise are both closing here where I live in about a month. My hubby is off on workers comp with a back injury right now but we are skimping and trying to pay off our debts, which are not many. He seems to think it will only get worse. The want ads in our Sunday paper used to be several pages and now it's barely 2 pages. And here I am trying to clean up my credit so I can get some credit....hmm. LOL
Christi, Service Merchandise is going to close their last store in San Antonio. I walked inside the mall and noone buy anything. Alot of new cars is sitting and noone is buying. I don't see any enconomy recovery so far. Ron.
I'm also scaling back (waaaay back) on my spending and just focusing on paying off my credit card debt. Jobs here in the Baltimore area are quite scarce--I'm spoken with 3 recruiters about finding a better job and they all have nothing to work with! My company has laid off about 18 people since November and those of us who are left got little to nothing in terms of a salary increase at review time. I'm taking out student loans and going back to school for a masters degree to try and bust out of the crappy-job cycle--hopefully things will get better between now and 12/2004! Investment-wise, my 401(k) makes a little $ one week, loses a little $ the next. I worked a part-time retail job until recently and I definitely noticed that people are still quite conservative in their spending. A year or two ago, these same people would whip out the plastic for hundreds of dollars worth of stuff without batting an eye. I feel as though I'm running in place financially, and I just about cried the other night when I got a $600 dentist bill (met my insurance max) and found out that I owe over a hundred bucks in taxes this year. My budget is stretched to the limit, but I will get those bills paid without charging them. The dentist may have to accept payments,whether he likes it or not. If things are getting better, I must not have gotten the memo! LOL
Although i see it all around me in the DOT BOMB, business in core critical areas is booming, Government is off the HOOK in IT right now. Of course pay back all you can, but i think we've seen the rock-bottom at this time, the market is showing upward gains.. I suspect by the end of this year prime rates will be creeping back..
Beaker, I know what you're talking about; I'm from the Baltimore area as well. I remember when the IT job listings in the Sunday Baltimore Sun spanned half a dozen pages...now, they maybe take up three columns. Depressing. wajaba
hmmm.... I am seeing and feeling the recovery. I sell modular furniture which is a capital expenditure Dani the accountant(?) would know about this] cap expenses are the first to go and the first to come back. [modular furniture are cubes to most] and I am getting calls from start ups and small business. Small businesses are generally the drivers of recovery. I would not say we will have a very strong recovery but business will improve by this summer for most. My industry has been in a recession since Jan 2000 so any upward movement is noted. We have been very busy the last two weeks most of my peers have experienced the same. My customers who were sitting on their hands are now making decisions so it is getting better for me at least. Many of my clients are hiring sales people which is another sign of recovery. This summer should be hotter in more ways than one. I am so hopefully I just put a contract on my dream house.....I got 8 months to get my credit pristine!..LOL
I'm in the midwest and work in manufacturing(construction equipment). So far, January orders look good, we are hiring a few people and some departments are working overtime. Lets hope it continues.
I am in New Jersey. There have been lots of layoffs here, but things seem to have bottom down. It should get better from here. Service Merchandise is closing here also. The wife found a job before the benefits ran out, she took less money, but she is working. www.creditsense.com
