Recession is back baby

Geuze

listermint wrote: »

As far as I know the definition of recession is negative growth for 2 consecutive quarters.

Q1 was plus 1.2%
Q2 was negative.


So I don't think that fits the definition. Hence my confusion about the premise of this thread.

Q1 was revised downwards in the Q2 release.

dulceetdecorum

DangerScouse wrote: »

Knew two lads who took their own lives in the last recession so I look back at it with a great sadness despite never losing my job or suffering financially personally.

Hope we aren't going back to that now

Was too young to really remember the last recession but a lot of people are struggling with problems that dont crop up if they have a distraction such as work or school, I myself had a suicide attempt and was struggling with drugs very badly. Things are looking up now but holy God, it's terrible where your mind can take you and I really underestimated how important being accountable for something is, you just don't know what to do with yourself without a job or somewhere to be during the day.

coolbeans

Errashareesh wrote: »

Maybe they're joking but yeah there are people who genuinely do think that. You're letting your country down if you don't stay here on the dole - totally bizarre.

It's pure begrudgery. Some fellas would prefer others to stay on the dole than go abroad and better themselves. Yer man who made the point, Greta I think, got nine thanks too. There's plenty of that type out there. I'd describe them as toxic.

ShatterAlan

Mr.S wrote: »

But the bounceback, the bounceback!

This is unique recession though, is it not? In the sense that some industries are largely unaffected and some people are actually better off due to income remaining stable / increasing and daily expenditure dropping?

(I am not a financial expert, thank god)

There is NO recession-proof job.


NONE.


Even undertakers (and we all die) will suffer because there's a shortage of imported wood to make coffins and forget those big beauquets of flowers that are in short supply too.

6541

Anyone think it will be possible to migrate anywhere else or will everywhere be closed off to us. I hear people are still making serious cash in Oz.

landofthetree

6541 wrote: »

Anyone think it will be possible to migrate anywhere else or will everywhere be closed off to us. I hear people are still making serious cash in Oz.

Well if there is a vaccine by early 2021 they will be opening up visas to the usual groups.

Oz is probably the best bet for an Irish person as they will have a quick recovery. They have a low national debt and wont need a decade of austerity like we might.

landofthetree

ShatterAlan wrote: »

There is NO recession-proof job.


NONE.


Even undertakers (and we all die) will suffer because there's a shortage of imported wood to make coffins and forget those big beauquets of flowers that are in short supply too.

Debt collector and debt management companies? They might do better in a recession?

Errashareesh

dulceetdecorum wrote: »

Was too young to really remember the last recession but a lot of people are struggling with problems that dont crop up if they have a distraction such as work or school, I myself had a suicide attempt and was struggling with drugs very badly. Things are looking up now but holy God, it's terrible where your mind can take you and I really underestimated how important being accountable for something is, you just don't know what to do with yourself without a job or somewhere to be during the day.

You're amazingly articulate for someone so young. I'm so sorry to read you went through that. Things can be crap at that stage of your life without all this carry-on. Delighted things are on the up.

Errashareesh

ShatterAlan wrote: »

There is NO recession-proof job.


NONE.


Even undertakers (and we all die) will suffer because there's a shortage of imported wood to make coffins and forget those big beauquets of flowers that are in short supply too.

What about tax related jobs? Certain public sector functions?

Risteard81

tonycascarino wrote: »

A seemingly no deal Brexit will be on the way at the end of the year to finish us off anyway

A No Deal Brexit is the only positive thing in this.


It will help to sentence the so-called "EU" to death, which is entirely welcome.

shooter69

https://www.irishtimes.com/business/commercial-property/tech-giant-google-pulls-out-of-office-deal-in-dublin-docklands-1.4348998?mode=amp

Not a good sign of things to come..

IAMAMORON

I think we bounce out of this recession a lot quicker than the credit crunch. It is a different animal. As soon as the lockdown measures are eased you will see things back to normal.

Private companies however will experience different levels of growth and no doubt will use this crisis as an excuse to cull unwanted staff. If your boss does not like you hang as tough as you can, you are goosed though.

That does not mean that jobs will not be available however. All companies need to run at an efficient capacity to enable output. But they will also have seen where savings are capable. If you are or were a passenger hold tight.

lsjmhar

Risteard81 wrote: »

A No Deal Brexit is the only positive thing in this.


It will help to sentence the so-called "EU" to death, which is entirely welcome.

This is gonna be a popular opinion!! Lol!!

jamesbondings

shooter69 wrote: »

https://www.irishtimes.com/business/commercial-property/tech-giant-google-pulls-out-of-office-deal-in-dublin-docklands-1.4348998?mode=amp

Not a good sign of things to come..

Not really. I mean tech companies will embrace work from home. The jobs will still be here but I suppose the tertiary services may suffer.

Tuco88

I can't believe some of the lessons we learned the hard way last recession that we forgot.

Its the type that collect and spend nothing in boom times are the crafty type... Any person with cash will be rubbing his hands soon, cheap property, cars and equipment. Remember the auctions???

If the construction goes its going to be a bad one. Just because you hear the projects for the next 2 years talk means nothing. You'll be surprised how they will can the lot in two weeks.

Can/Aus citizenship is the golden ticket now.

Eleven Benevolent Elephants

punisher5112 wrote: »

If I hear your lucky to have a job I'm going down for multiple homicide.....

Oh also I pay your wages and how long will the next one be or you're early.....

You're in a safe and secure job but it's not one I could ever do.

You need an iron will to deal with the crap you do on a daily basis. Bus drivers deserve our respect.

Atlantic Dawn

The trawlers are starting to follow the seagulls.

Eleven Benevolent Elephants

Risteard81 wrote: »

A No Deal Brexit is the only positive thing in this.


It will help to sentence the so-called "EU" to death, which is entirely welcome.

I take it you weren't alive pre 1973 and you've never read a history book.

PommieBast

Short of some bailout of rent/rates/bills a large portion of companies are going to be insolvent. Not going to be pretty at the end of the financial year when accounts have to be signed off.

BuboBubo

2021.

We are going to be taxed to death. It'll be like they dug up Squire Haughey to tell us we are living beyond our means.

KungPao

Don’t worry folks. I’ve set up a Go Fund Me.

I’m sure the people of Earth will pull together for us.

ILoveYourVibes

This recession isn't going to end until there is a vaccine. And one that knocks it out. That will be prob at least 2/4 years. Maybe more.

BuboBubo

BuboBubo wrote: »

2021.

We are going to be taxed to death. It'll be like they dug up Squire Haughey to tell us we are living beyond our means.

Will be livestream on YouTube, Facebook.

It's times like these which is why I chose to work in the public sector.

ChikiChiki

Deleted User wrote: »

It's times like these which is why I chose to work in the public sector.

****ing hell, like a broken record at this point. When you were choosing your career I suppose you thought to yourself "Once in a 100 year pandemic due so I'll join the PS".

Well done you. :rolleyes:

Gregor Samsa

Deleted User wrote: »

It's times like these which is why I chose to work in the public sector.

Those with shorter memories might be reminded that the last recession had a significant negative effect on the public sector.

https://www.irishtimes.com/news/warning-on-public-sector-job-losses-1.878315

Gretas Gonna Get Ya!

Pauliedragon wrote: »

I never understood this line of thinking. Surely someone who feels that the only way to earn a living is to leave is not a problem. Plus everyone on welfare who leaves the country is saving a skint government money. What's wrong with that?

In some cultures the people stay and help to rebuild their country/community when bad things happen.

Here in Ireland, we seem to have a culture where many of our people think it's okay to run away and leave their problems behind. Different cultures, different values.

Each to their own. But imho, if you love the place where you come from, you should want to stay and be part of the rebuild/recovery.

Gregor Samsa

Gretas Gonna Get Ya! wrote: »

In some cultures the people stay and help to rebuild their country/community when bad things happen.

Can you name the cultures in which the young people voluntarily stay at home unemployed en-mass out of patriotic duty during a recession? Or are you talking about the cleanup after flooding and volcanos and stuff?

Gretas Gonna Get Ya!

Gregor Samsa wrote: »

Can you name the cultures in which the young people voluntarily stay at home unemployed en-mass out of patriotic duty during a recession? Or are you talking about the cleanup after flooding and volcanos and stuff?

There's plenty of countries whose economy has been pretty rubbish for decades, but most of the people stick around and don't run away.

And they especially don't run away, and then throw around empty rhetoric about how they love their country... despite having no interest in actually living there. Like many of our fine patriots do!

ChikiChiki

Gretas Gonna Get Ya! wrote: »

In some cultures the people stay and help to rebuild their country/community when bad things happen.

Here in Ireland, we seem to have a culture where many of our people think it's okay to run away and leave their problems behind. Different cultures, different values.

Each to their own. But imho, if you love the place where you come from, you should want to stay and be part of the rebuild/recovery.

Not entirely sure you understand the problem with huge numbers of unemployed remaining on home soil. The argument is silly.

And to further elaborate - some economies are perenially in the toilet. People cannot leave these countries because they are poor. Luckily in Ireland, we have the means to go elsewhere to better our lives when we need to instead of hanging around damaging our mental health and letting a huge experience gap grow on the CV.