So after watching yet another friend and colleague get laid off this morning, I need to say once again how much I hate this recession. (Or maybe it’s the twisted mentality of corporate layoffs that I despise so much – but can we all agree that one leads to another?)
I will admit that a small, curmudgeonly side of me was (and still is) secretly relieved to have a reprieve from the Age of Excess that characterized much of this last decade. Manhattan is as good a place as any to see this kind of thing in action. I’m talking gold martinis, 4-hour waits at overrated restaurants, insufferably rude sales staff and laughably high prices for just about everything, from a bottle of Poland Spring ($3) to, of course, real estate (the sky’s the limit!). Nowadays, you can get a dinner reservation anywhere you like (as long as you can afford it), salespeople are actually nice, real estate prices have come down somewhat and the hottest food trend in town is to eat from street carts.
But the cold hard facts are that the city’s unemployment rate is somewhere around 10%. The majority of my unemployed friends are fortunate enough to have some savings, some job prospects, and a strong support network, but what about everyone else? It’s tough to make ends meet anyway, but when you’re supporting children, spouses, or perhaps a parent or two - and you lose health benefits in addition to your paycheck … it’s enough to put many families over the brink. And the sad fact of the matter is that people who are just barely making it are so often the ones who lose out first, and most painfully. Which brings me to the sheer irrationality of corporate layoffs. Why do companies eliminate dozens of low-level employees making < $50k a year, in order to save the equivalent of a few first-class plane tickets?
It seems like the people who don’t have safety nets are the ones who most often need them, be it a retirement account or advanced education or even just a rainy day account and good health habits. And I know I’m not writing anything new here; all this ground has been covered many times, and much more eloquently, by columnists and social observers of every stripe.
It just sucks, that’s all. To all of you with safety nets, be thankful! And to those of you who are job-hunting, best of luck. I hope some good opportunities come your way very soon.