I have been receiving
many interesting emails lately from all areas of the country, international
as well. I would like to share some of them with you.
In a reply to Cut My Pay, But
Please Give Me A Job, Bobbie Writes:
It seems to me that anyone able to actually get a job offer at 50% of their
former pay would be lucky.
My husband has spent 8 to 10 hours a day for the last 12+ months sending off
CV’s, letters, working the phones, researching companies, writing to
CEO’s and HR, all to no avail.
It’s a black hole out there!
Responses are not forthcoming even for a job that is written to his
experience.I realize that companies are making “wish lists”
regarding what they are seeking in an employee and I also realize that HR
folks online are “copying” from other sites just to have a job to
Please consider that you pay to look at listings on Ladders.com yet you later
find the same job listed on Monster.com, Indeed.com and Careerbuilder.com
(just to mention a few). I am aware that having responded to the incorrect
one has eliminated job seekers from consideration by the actual entity
looking to employ a candidate!
Also note that if you have experience in years past at a certain level and
apply for that job offering up to 50% less, if you even receive
consideration, you might just be lucky enough to be told to apply for a
position more in keeping with your current experience. This too has occurred
We have even had a HR person say that my husband “looks like” a
“$200,000.00 a year guy” and that job he applied for is nothing
near that, so they will keep him in mind should a $200K job “pop
up”! He has never made that kind of income, as this person was well
aware! It would be nice but, give us a break!
So, even with little to no debt, including no auto loans or mortgage, we are
being forced to draw down our retirement funds just to pay for basics. With a
child in high school and one in elementary school, we have a long way to go
before we achieve empty nester status and are quite content to continue
contributing to society via our work and taxes, contributions to non-profits
and volunteering. As long as we can pay the bills, feed the kids and keep our
heads above this economic flood, we might just have something left to retire
on when that time arrives.
So, what to do? Frankly, we’ve not a clue!
50% off? We’ll take it and gladly!
This is one lady that enjoys your posts daily and my reading thereof saved
our invested monies when we pulled back to cash in ’07. If we had not,
it would not be there today to pay for those same basics!
Highly doubting the recession is ending Rick writes:
Hey Mish, Have you
looked at Reuters and Market Watch headlines today?
Reuters: "Looking for a sign the economy is turning around, investors
keenly await the jobs number for August."
Market Watch: "Global rebound coming sooner than expected, OECD. Fed
officials are more confident than ever that the economy's steep downturn is
coming to an end, but they were uncertain at their latest policy meeting
about what the recovery will look like.”
I cannot find a job, although I have tons of experience, a university degree
and additional business training. And even I can easily see that the
"depression" is only starting, the stock market is following the
same cue from 1929 onward and there is still an enormous amount of pain,
suffering and deprivation that will be coming in the future.
These emails cannot be
considered hard data as the sampling is both too small and too unscientific
from which to make solid factual conclusions. Nonetheless, I believe these
emails are representative of what is happening in the real world, by real
Thanks also go to Bobbie for the warning about multiple job listings and pay
Finally, instead of looking just at numbers, putting a human side to things
better shows what people are actually going through.
Mish's Global Economic Trend Analysis
Thoughts on the great inflation/deflation/stagflation debate as well
as discussions on gold, silver, currencies, interest rates, and policy
decisions that affect the global markets.