The recession is nearly over- will you get your pay cut back?

jos28

According to many economists, the end of the recession is in sight
http://www.rte.ie/news/2009/1103/eueconomy.html
Will all the bosses who initiated pay cuts be reinstating everyone to their pre-recession wages ? Many pay cuts were enforced on a 'temporary' basis, 'until things improve' etc etc....
Has anyone asked for their 10% cut back yet and if so what was the response ?

phasers

You'll be told to STFU and get back to work

WIZE

days must be like minutes to you if you think the recession is nearly over in this country

DeVore

Would these be the same economists who told us there would be a soft landing of the housing markets?

This recession is far from over. The next budget is going to be the one we SHOULD have had at the last one.

DeV.

Tellox

I sincerely hope not. Irish people priced themselves way out of the marketplace pre-recession - this is a large factor in why we got hit with such a slap during it.

Wages don't need to rise. Inflation needs to drop.

TheZohanS

Moved to Irish Economy

brianthebard

Key words in that article are 'in Europe'.

ixoy

They're talking about the recession ending in Europe - not Ireland. We're still screwed. Anyone who thinks it's getting rosy, and time to increase high wages any time soon, is deluded.

RealityCheck

jos28 wrote: »

According to many economists, the end of the recession is in sight
http://www.rte.ie/news/2009/1103/eueconomy.html
Will all the bosses who initiated pay cuts be reinstating everyone to their pre-recession wages ? Many pay cuts were enforced on a 'temporary' basis, 'until things improve' etc etc....
Has anyone asked for their 10% cut back yet and if so what was the response ?

What pills are you taking.

Just beacuse we come out of a recession (which is unlikely in any case) does'nt mean the **** has'nt been cleaned from the fan.

NewDubliner

[QUOTE=jos28;62830365Has anyone asked for their 10% cut back yet and if so what was the response ?[/QUOTE]If you work in a bank, you're probably saying, right now, "what paycut?"

bangersandmash

jos28 wrote: »

According to many economists, the end of the recession is in sight
http://www.rte.ie/news/2009/1103/eueconomy.html
Will all the bosses who initiated pay cuts be reinstating everyone to their pre-recession wages ? Many pay cuts were enforced on a 'temporary' basis, 'until things improve' etc etc....
Has anyone asked for their 10% cut back yet and if so what was the response ?

The bosses might point out that the article applies to Europe overall, not to Ireland. The likes of France and Germany emerged from recession some time ago. We're not in the same boat as them.

Amazing the difference a headline can make...

Ireland and Spain to lag behind in Eurozone recovery

http://www.irishexaminer.com/breakingnews/business/ireland-and-spain-to-lag-behind-in-eurozone-recovery-432768.html

lmimmfn

lol, the recession hasnt even got into full swing here give it another 2 years.

foxyboxer

(in trailer man type voiceover)

the recession is coming to an end
the depression is about to begin!
the budget 2010

hitting a wallet near you soon!

Nasty_Girl

No because if my wages get higher then my landlord decides he can up the rent of my apartment, local shop decides they can shove on an extra 10 and 20 cent here and there til it all snowballs back into a load of bollix.

nesf

DeVore wrote: »

Would these be the same economists who told us there would be a soft landing of the housing markets?

No actually, completely different group and their predictions aren't that unrealistic, it's not that hard to grow your GDP by 2% after it's dropped around 10% in the previous years. The thing is the problems we face aren't just GDP growth and the threat of deflation.

nesf

brianthebard wrote: »

Key words in that article are 'in Europe'.

Nah they're predicting something like 2012 for the Irish economy to begin recovering, but that's on the optimistic side of things and beginning to recover could mean several years of low growth and little job creation.

ednwireland

doubt it unless something magic happpens and we get more better paid work, and our customers actually pay us.

FKhan

jos28 wrote: »

According to many economists, the end of the recession is in sight
http://www.rte.ie/news/2009/1103/eueconomy.html
Will all the bosses who initiated pay cuts be reinstating everyone to their pre-recession wages ? Many pay cuts were enforced on a 'temporary' basis, 'until things improve' etc etc....
Has anyone asked for their 10% cut back yet and if so what was the response ?

Dude

The report said it did not expect growth to resume in Ireland until 2011

So you have to wait another summer

Kensington

The recession is nearly over? Dude, it has yet to begin.
We're in for one of the hardest budgets ever this December. And the budget next year won't be any better. This year is a walk in the park compared to what next year is going to be...

RealityCheck

Kensington wrote: »

The recession is nearly over? Dude, it has yet to begin.
We're in for one of the hardest budgets ever this December. And the budget next year won't be any better. This year is a walk in the park compared to what next year is going to be...

And the year after that and the year after that and possibly more after that..... Its going to be wicked bad until at least 2014.

Flamed Diving

DeVore wrote: »

Would these be the same economists who told us there would be a soft landing of the housing markets?

You mean those "economists" who actually did a Bcomm and who wound up becoming the Chief "Economist" for either AIB, BOI, Anglo or any of the other vested interests in the property industry?

Well, no. These were economists for the EU commission. However, one should carefully read one line in this article:

On the technical measures used by economists, the recession is over in the EU.

And learn that 'technical measures' is a term used by hack journalists to disguise the fact that a recession can be most loosely described as positive q-on-q growth. But any real economist knows that this is ****ing nonsense.

Come to the economics forum to learn more!

Tipsy Mac

Ireland is a long long long way away from the bottom it's heading to. Next year will be hell, the following year will be worse, I expect it to level out in 2015. House prices have yet to crash and return to a level of what a house should cost in this country, 50% less than they are now.