How is the economy affecting you?

[SM1DY]

I have 'Global Economic Crisis' burnt into my brain and I don't think I will ever get it out!!!

[baboon]

Im going to be learning to fix things myself now. Constantly learning how to service the family car myself and trying to keep things in the house lasting longer. Im trying to be more resourceful and buying used items and fixing them up. Im taking my time to do a quality job in everything I do, not rushing and double checking to make things last longer.

Im reading up more on things that will become useful to me. I am trying to gain more skill in other areas like, cars, electronics and agriculture. Knowledge in other areas will give me opportunities to work in places I have never worked before.

I believe that in a recession environment the thing people will spend money on is food. Agriculture might be a good industry to take up in years to come.

Will try to manage house debt a little better too. I am considering locking in the house for 20 years at this current interest rate as I think the house payments Im making at the moment is good value. IMO it might be a good time for me to protect these low payments for the next 10 years at least. I have a newborn now and thinking longer term and thinking about him. My projections are that prices are going higher due to the inflation of Americas money supply. The more money America prints the more inflation. If I lock rates in now I'll protect myself against that.

Interesting times. Good luck to you all.

[x351]

I work as a manager in the public service, and the economic situation is a mixed bag for me. I have a university degree and employment in my field is split roughly 65% government/35% private industry, that is to say most of the guys I studied with work in govt, but those in private industry are probably earning more $$$. Over the last 5 years I have watched a lot of my work colleagues and associates leave government for private industry and enjoy the benefits. I chose to stay where I was and aim for a more long term income (ie: shares and property) but with high interest rates etc last year I almost lost the lot. Shares that owe me a lot but were (and still are)worth stuff-all, and a property with a mortgage I could barely service. Now that rates are down and rents are up it is manageable again, and I'm more realistic with my long-term outlook. Also, like most people I am trying to save because things are uncertain.

At the moment a lot of firms are cutting back or closing down. Where they once employed a lot of graduate/junior staff these guys have now been laid off, so the more senior people who can earn more money for the firm are working a lot harder. This has made a real difference to the recruitment of staff in my team. At the beginning of last year I advertised two positions and received one application and 3 applications respectively. Last month I advertised the same positions and got 17 and 11. Most of them had come from private industry who were either out of work or about to be. Where previously we found it hard to compete on salary etc, government is now attractive because it pays ok and is stable and reliable. My team (and myself) are as busy as we were last year, its just that we can now have a full team for the first time in a few years, so deadlines are achievable rather than unrealistic.

To those of you out there with job uncertainty I wish you well, I hope it turns around soon.

[gtfpv]

Originally Posted by GT0132

Going OK so far...CFO for a corporate law firm....Some property & litigation work has dropped off, but our insurance and employment law areas are booming...Had 2 job offers since mid January which i turned down...Interest rates are tumbling so looking at buying another property...Petrols down as are airfares so heading overseas in April with my kids for a well earned holiday.

Downside - (1) my super fund has lost 30% of it's value and (2) the second hand market for B series V8's took a tumble immediately after I bought mine

WELL DONE my friend . proud of you for it . . good to see.

[gtfpv]

i have nothing but utmost respect for everyone posting here .
IT'S GREAT TO HEAR PEOPLES STORIES AND HONESTY.
everyone here is a worker, no one deserves to be bagged by others by getting out of bed daily and serving the community( remember that before you bag your fellow worker) no matter what they do.

where i work staff have had bonuses and salary increases frozen indefinately. all the employees have lost all overtime . thank god i'm on a decent salary.
to the business owners i feel your pain . anyone doing well good for you , ( business owners never know where the next dollar is coming from , so they need to earn well. )

MY mother is currently in hospital . TODAY I WAS THERE ( WESTMEAD) patients everywhere coming into the ward . nurses panicing . THE HOSPITAL IS SHUTTING DOWN WARDS !!!!!!! patients were being transferred to other wards and beds being closed down . THIS IS CATASTROPHIE !!!! the casual nurses all got laid off !!! departments closed , many beds empty. WTF .... WTF... WTF.... IS GOING ON HERE .

WHY DID THIS NOT MAKE THE NEWS !!!!!!! ????????????
this is absolutely horrible , one of the senier nurses was saying the hospital is in dire straights !!!!
this is the state govt not paying bills . BUT WE STILL PAY OUR TAXES !!!!!

I AM APPALLED THAT THE FEDERAL GOVT IS HANDING OUT CASH WHEN WESTMEAD IS BLINDLY BEING SHUT DOWN !!!!!!

CAN WE START A PROTEST HERE !!!!!

[GROM]

Run my own excavation business , been self employed for 20 years , had a few different businesses , have never seen it this quite I new things would slow down but I thought it would be around June , July , winter ,tax time ect. And alot of tradies I speak to are in the same boat. Have been working on some Government projects but are now finished , some new ones starting in the next couple of months so hoping to get on them. The missus said the ute may have to go !!! Yep she has to go, the missus that is, not the ute lol.. Anyway roll with the kicks what will be will be.Good luck to everyone..

[xy500]

Originally Posted by ILLaViTaR

I'd like to approach key statements from your post:

"I cut my teeth doing the crap jobs and working my way up through the ranks."

Oh god how ignorant
What do you think 4 years of study, exams and stress is? You're basically arguing that physical work is a lot worse than mental work. I'd argue otherwise, people are capable of doing almost anything physical in the industry, it's a lot harder to comprehend what they throw you at uni.
Not only do you spend full time hours at Uni, you study almost as much in your own time. Which is a lot more than your stupid Saturday.
Ftr I'm a tafe student not Uni.
I also mentioned apprenticeships not TAFE. You know the one where the government has a rebate for their tools and there's also another perk they receive. While Uni students struggle to afford books and transport.
Speaking of transport these blokes throw a ladder on their roof and get money back on their car!

"As far as being paid through our education do you honestly believe that tradies had or have it easy? I was 16 earning $ 225 a week if I worked a Saturday. Out of that I paid TAFE fees , text books , tools , full adult rate of tax , no concession on medicine , rego , public transport etc."

Most Uni students are even older (19+) and don't even have $225 a week and still have to get books, no concession , UNI FEES which are 10k per year, no concession, we don't get health care cards, it depends on your parents income. Not only that 19 no money while all your tradie mates go out to the pub drinking beer and you have to resort to goon. Plus you don't buy new books and many other things you've mentioned every one of the 52 weeks in the year. Not saying you have it easy but Uni students clearly have it harder.

"It is them that puts their **** on the line if the business falls over. They run the risk of loosing everything. You get to go home at the end of your job at the pizza shop and not worry about the place safe with your pay."

So you've never heard of redundancy then?
Pffft it's the other way round. They're their own boss they're far more secure in their job than any employee. I've been threatened to be fired numerous times along with many others in my work, not only at this job either.

My father took a year to get back into the workforce after countless job applications and finally got back into the workforce, it was the worst year of his life.
My uncle however owned a building business. He's a carpenter, his accountant stole millions and caused him to declare bankruptcy, lost everything. 5 years later (suspension period of his license), got his builders license back, started another business and is in the money again, just purchased an $800 000 cruiser. He just payed the money off with all the assets he had obtained from the business in the first place. He doesn't fraud tax unlike god knows how many other people either.
I've also discussed it with my boss at work, he was doing mechanical engineering and I was impressed at how at his age he was taking up a massive risk with the loan for his store/the franchise, he said the risks are incredibly minimal and there are all sorts of things to pull you out of the deep water if you get stuck in it. And what the bills they claim back from their tax??? Oh god.

"Without them you wouldnt have the job at the pizza shop or the boss to hang crap on because he is successfull and doesnt have to be hands on now."

Ah the good old praise businesses for supplying jobs argument. That's all I hear, if they didn't have to employ you they wouldn't, generally the already wealthy owner cuts employee costs as low as he can. My work is an example.
Most of those low wage hospitality jobs aren't far off your "back breaking apprenticeship days".
Nike supplied jobs to people in Asia too ya know.

There's bugger all risk, population is constantly growing there's demand for many trades. The only time something bad has happened to them is now and of course that's a terrible terrible thing.

So far according to you employees put in no hard yards, have jobs as secure as a flag pole and breezed through uni copying things down off a whiteboard.
You try and remember what mm spanner undid that bolt while I try and remember how many electrons are in 1 coloumb.

You obviously don't have many tradie mates do you?
look i study too, and i know the drill, but don't go complaining you only get to drink goon, at least you're getting that bro. i know tradies who've had to live off tinned spaghetti and two minute noodles. And its bloody hard working physically all day while living off noodles. i suggest you get a part time job as a labourer, theres usually plenty of work, and see just how 'easy' it is on your soft hands. Hospitality is fast paced and stressful but is not what i'd call physical work.
Be thankful you parents will put you through uni while you can live at home, be thankful for your movie concessions, public transport concessions and austudy. By the way if you're not eligible for austudy, it means your parents are too well off, but you can solve this by working for a year and then you'll get the payments and the healthcare card.
Uni crew do not have to buy books, thats what the closed reserve is for. Uni fees got straight to hecs which is an INTEREST FREE LOAN which is more than most parents would give, and is easy to pay off when its only 6% of your total income. And unless you're a studying doctor i doubt your fees are 10k a year, engineering at UWA is still only about 7-8k pa. And if you leave the country you never have to pay it back!
Look i'm not saying its easy studying, but its not meant to be. Its no easier doing a trade. And look at it this way, with a degree you're much more likely to earn more money while doing less work, isn't this why everyone does degrees? And you get treated better in life, as people like you have a dirty habit of looking down on tradies.
So don't whinge, you've got a brighter future than most

[Cookie-XR8]

if you need something in the media pm me i got hook ups,

i know tradies who've had to live off tinned spaghetti and two minute noodles. And its bloody hard working physically all day while living off noodles

one of the guys i live with is a second year chippy and his budget is extra tight at the moment thats all he lives on working 10 hour days in the sun for $400 driving a busted old courier with a phucked clutch and many things cause he casnt afford to fix it and mummy and daddy arnt there to just fix it for him

im finding it ok, everyone is worried about there belongings and money (cash money (notes etc) getting stolen and i transport it so its all good on my end but my super has also droped becasue i invested it,

i would hate to be affected by this lets just hope it blows over asap

[vanman_75]

Originally Posted by ILLaViTaR

I'd like to approach key statements from your post:

"I cut my teeth doing the crap jobs and working my way up through the ranks."

Oh god how ignorant
What do you think 4 years of study, exams and stress is? You're basically arguing that physical work is a lot worse than mental work. I'd argue otherwise, people are capable of doing almost anything physical in the industry, it's a lot harder to comprehend what they throw you at uni.
Not only do you spend full time hours at Uni, you study almost as much in your own time. Which is a lot more than your stupid Saturday.
Ftr I'm a tafe student not Uni.
I also mentioned apprenticeships not TAFE. You know the one where the government has a rebate for their tools and there's also another perk they receive. While Uni students struggle to afford books and transport.
Speaking of transport these blokes throw a ladder on their roof and get money back on their car!

"As far as being paid through our education do you honestly believe that tradies had or have it easy? I was 16 earning $ 225 a week if I worked a Saturday. Out of that I paid TAFE fees , text books , tools , full adult rate of tax , no concession on medicine , rego , public transport etc."

Most Uni students are even older (19+) and don't even have $225 a week and still have to get books, no concession , UNI FEES which are 10k per year, no concession, we don't get health care cards, it depends on your parents income. Not only that 19 no money while all your tradie mates go out to the pub drinking beer and you have to resort to goon. Plus you don't buy new books and many other things you've mentioned every one of the 52 weeks in the year. Not saying you have it easy but Uni students clearly have it harder.

"It is them that puts their **** on the line if the business falls over. They run the risk of loosing everything. You get to go home at the end of your job at the pizza shop and not worry about the place safe with your pay."

So you've never heard of redundancy then?
Pffft it's the other way round. They're their own boss they're far more secure in their job than any employee. I've been threatened to be fired numerous times along with many others in my work, not only at this job either.

My father took a year to get back into the workforce after countless job applications and finally got back into the workforce, it was the worst year of his life.
My uncle however owned a building business. He's a carpenter, his accountant stole millions and caused him to declare bankruptcy, lost everything. 5 years later (suspension period of his license), got his builders license back, started another business and is in the money again, just purchased an $800 000 cruiser. He just payed the money off with all the assets he had obtained from the business in the first place. He doesn't fraud tax unlike god knows how many other people either.
I've also discussed it with my boss at work, he was doing mechanical engineering and I was impressed at how at his age he was taking up a massive risk with the loan for his store/the franchise, he said the risks are incredibly minimal and there are all sorts of things to pull you out of the deep water if you get stuck in it. And what the bills they claim back from their tax??? Oh god.

"Without them you wouldnt have the job at the pizza shop or the boss to hang crap on because he is successfull and doesnt have to be hands on now."

Ah the good old praise businesses for supplying jobs argument. That's all I hear, if they didn't have to employ you they wouldn't, generally the already wealthy owner cuts employee costs as low as he can. My work is an example.
Most of those low wage hospitality jobs aren't far off your "back breaking apprenticeship days".
Nike supplied jobs to people in Asia too ya know.

There's bugger all risk, population is constantly growing there's demand for many trades. The only time something bad has happened to them is now and of course that's a terrible terrible thing.

So far according to you employees put in no hard yards, have jobs as secure as a flag pole and breezed through uni copying things down off a whiteboard.
You try and remember what mm spanner undid that bolt while I try and remember how many electrons are in 1 coloumb.

thats a fair kick in the guts for people who's families like mine couldn't even dream of putting their kids in uni .and believing working with your head is harder than shoveling concrete /or throwing tiles .you may know protons or whatever but please dont tell me how hard you have worked ,what a joke .

[Melz]

Most uni 'kids' need a kick in the pants and to be told to get a job while they study, even if its only nightfill at the local supermarket. My parents wanted to pay for my schooling, but couldn't afford it at the time.

I put myself through my highschool years, TAFE and now Uni, by having multiple jobs and paying my own way. I'm very fortunate to have supportive parents who don't charge me board/rent, so I can still enjoy some of my hobbies while I concentrate on paying for my studies.

The tuff bit about life isn't the uni work... its the actual work! When you get out in the real world and have to start thinking for yourself, and not have words written up on a whiteboard for you...

I'm only doing uni because the company I work for doesn't see me 'promotion' worthy without a bit of paper... and at the end of the day thats all it is.


Oh and for the economy situation, the industry I work in has been in a bit of turmoil for the past couple of years so it hasn't helped a hell of a lot... Now there will be 300 redundancies across the business (and only found that out through the ASX report!)

[Loonar]

My company has just reduced us to a 4 day week i.e. 30.4 hrs., interesting times ahead, reckon i can go another notch or 2 on the belt? I work as a patternmaker, the quality products we produce can't compete with inferior Chinese items, basically that's it. Manufacturing dying a slow and now painful death in our Country that's for sure!!

[Road_Warrior]

Originally Posted by gazza414

For those that may have read something else into this post about the public service

It is interesting to speak with my friends who are public servants and they arent aware of any hardships nor redundancies in the workplace due to the economic crisis.. the public service is still short of staff.

Unlike for most who work in the private sector ,where there is the constant chat about downturn, no bonuses this year, retrenchments, redundancies, customers disappearing, orders just not there etc.

hope this clears things up.

I'm in the public service and I'm not aware of anyone in the department I work for having difficulties. Then again I don't pry into people's private lives and ask them about their spouses etc but certainly from my perspective it's a case of 'business as usual'. They're still hiring, but only for certain things and in our area we're not rocking the boat about getting new staff or anything, especially seeing as the Govt. razor gang is out and about looking to save costs. So I think if we keep ourselves 'off the radar', then we will be right.

Cheaper consumer goods and lower interest rates are certainly great but while things are still cheap I'm going to try and make hay while the sun shines and get rid of credit cards and personal loans etc.

I think the people who are really in strife are those who were living beyond their means long before the financial crisis erupted.

I don't think it matters much whether you're in the trades or the professional sector, if you're a good worker with good skills, there will be a job for you, somewhere. Might not be what you're used to or what you'd like, but if it pays the bills and gets you back into the workforce then it's all good.

[gtfpv]

Originally Posted by Melz

Most uni 'kids' need a kick in the pants and to be told to get a job while they study, even if its only nightfill at the local supermarket. My parents wanted to pay for my schooling, but couldn't afford it at the time.

I put myself through my highschool years, TAFE and now Uni, by having multiple jobs and paying my own way. I'm very fortunate to have supportive parents who don't charge me board/rent, so I can still enjoy some of my hobbies while I concentrate on paying for my studies.

The tuff bit about life isn't the uni work... its the actual work! When you get out in the real world and have to start thinking for yourself, and not have words written up on a whiteboard for you...

I'm only doing uni because the company I work for doesn't see me 'promotion' worthy without a bit of paper... and at the end of the day thats all it is.


Oh and for the economy situation, the industry I work in has been in a bit of turmoil for the past couple of years so it hasn't helped a hell of a lot... Now there will be 300 redundancies across the business (and only found that out through the ASX report!)

WHY WASTE ALL THAT TIME GOING TO UNI . WHEN YOU CAN JOIN THE POLICE FORCE AS SOON AS YOU LEAVE SCHOOL . HAHAHA. :

[Melz]

Originally Posted by gtfpv

WHY WASTE ALL THAT TIME GOING TO UNI . WHEN YOU CAN JOIN THE POLICE FORCE AS SOON AS YOU LEAVE SCHOOL . HAHAHA. :

Couldn't hack driving a Commodore pursuit car thats why I didn't join the force...

[jcxr]

In Victoria they dont want school leavers, they want people with a couple of years under their belt and have a little bit of life experiance. But back on topic ....

[FTE72]

Originally Posted by ILLaViTaR

That's because they don't own their own business and keep borrowing money to expand their already wealthy business and their greed then have it come back on them and put them up creek.

My father is a public servant earns a lot less than the bloke next door who got his window business inherited from his parents. Dad is constantly working and it's a stressful job he's seemed more depressed and overworked than ever before. The bloke next door is home half the time twiddling his thumbs. My boss is taking holidays on a monthly basis (pizza shop owner) does probably a 10th of the work my father does but he earns 4 times the amount too and has his WRX claimed on his business!!!
The bloke next door also owns a BMW and a Holden Grange, gets new ones every year. WONDER WHY! Dad can't do that!

I love how people who drop out in year 10 take a 4 year apprenticeship whilst still getting an income through their education hang on public servants. While people like my dad had to be poor through their education.
It's even worse nowadays Uni can be 10k per year.

My mates a carpet layer, my age getting an FG ute off his fathers business.
My father couldn't afford a car for me (I was broke), so he gave me the old family car.

People need to wake up and get over the non working public servant stereotype. It's really the other way around.

Gee, I hope someone like me gets the opportunity to employ you one day after all your "Hard Yards at Uni"
I see this attitude alot, I fear for the working future of the nation.
P.S. This "dumb tradie" RE-EDUCATES OVERPAID UNI IDIOTS on a daily basis.

PPS. I did my trade after my Degree.

[ebxr8240]

One thing for SURE I think we have along way to go ..
Trade job / work is possibly better than sales at present..
We are in electrical and hospitality here..
We are o/k ..

[Spudz27]

I am looking at buying 50% of the business I have been at for almost 3 years.

[TUF_302]

Its made me spend less on fuel, and less on rent, its great i think!!!

[Jestr75]

I have been rigging on shutdowns through out the bowen basin for the last 6 months. The company I was working for have had a lot of there work cancelled or put off till later in the year. I got another job working for power line and transmision line company but even they have had a lot of work taken away. The Queensland coal mining sector has almost come to a halt, at least in my area of work anyway.

[Keepleft]

Originally Posted by Loonar

My company has just reduced us to a 4 day week i.e. 30.4 hrs., interesting times ahead, reckon i can go another notch or 2 on the belt? I work as a patternmaker, the quality products we produce can't compete with inferior Chinese items, basically that's it. Manufacturing dying a slow and now painful death in our Country that's for sure!!

Started back in the 1970's with the signing of the Lima (Peru) Agreement. Thanks Peacock.

Bonds, King Gee maker axes 1,850 jobs Not good for Cessnock NSW.
http://www.livenews.com.au/Articles/...50_Aussie_jobs

[xurbanx]

Work's going pretty steady at the moment. They'll be hiring another 80 people by March 23rd. Pretty normal for a job with low retention rates. I work in a call centre for a financial institution (everyone somehow has debt!), the pay's pretty low, but I can't complain, not with the way things are around the world.

Perhaps one day I'd love to land one of them corporate jobs or perhaps open up a cafe by myself, but right now, I'm getting by with the call centre job.


Ps: Regarding the previous posts; my mates are tradie and the things he has to buy just for his apprenticeship are alot. He has to pay for his own courses (which the company makes him do), own tools, own transport ..etc.. Thing is, I have a degree in a field I doubt I'd ever work in, should've just used the 3 years working in a trade that'll teach me some skills.

[XR6-VCT-2000]

No problems here. As my mate describes me "I'm an asset to the economy" as I have been spending like mad lately due to all the savings available. I've spent more this year than in my whole life and still going .

[gcg2503]

Please don't let this turn into a white collar vs blue collar debate.......

[XR6-VCT-2000]

Originally Posted by gcg2503

Please don't let this turn into a white collar vs blue collar debate.......

If that was refering to my comment, I did't mean it that way !. I am a blue collar worker anyway.
I'm not no 'packer enterprise' or anything like that , I've just saved a few dollars over the last few years and everything is so cheap to buy atm because of the economy crashing.
In reality I probably should be holding onto my savings , but things are so cheap atm I can't help myself ! ) . , cheers ;) .

[gcg2503]

Originally Posted by XR6-VCT-2000

If that was refering to my comment, I did't mean it that way !. I am a blue collar worker anyway.
I'm not no 'packer enterprise' or anything like that , I've just saved a few dollars over the last few years and everything is so cheap to buy atm because of the economy crashing.
In reality I probably should be holding onto my savings , but things are so cheap atm I can't help myself ! ) . , cheers ;) .

No mate, wasnt pointed at you - just some posts above yours

[Green X]

Originally Posted by ILLaViTaR
"I love how people who drop out in year 10 take a 4 year apprenticeship whilst still getting an income through their education hang on public servants. While people like my dad had to be poor through their education.
It's even worse nowadays Uni can be 10k per year.

My mates a carpet layer, my age getting an FG ute off his fathers business.
My father couldn't afford a car for me (I was broke), so he gave me the old family car."

A Girl i know who is at uni drives a 70K BMW that her parents bought her.... What's ya point?
I'm a Tradesman and i finished year 12 at a top privet school, I'm one of the few of my mates who didn't go to Uni and yes I currently get payed more than what they do, but you know what i work for it.

I've had people like yourself say it's bull what i get payed when they went to uni and are only on X$, you know what the reality is> if they worked 30-40 more hours a week then they would make close to or more then what i do> then add in the fact i spend up to 4 weeks away from home at a time work 10-12Hrs a day sometimes in temp's of 50+ degrees in situations where you make a wrong move and you could be killed.

I'm currently on my 2 month of 12hr Night shift's which i will be working for the next 3+ months, you know why cause that $2 billion Gold mine process plant don't Put itself on-line automatically mate, Tradesman do, same with that Power station and Gas Plants Ect do you think you flick a switch and they run themselves??

Meanwhile back in the office working 8-5 in the air con, having lunch in the city, caching up with ya mates/girlfriend after work, going out on the weekends, Sleeping in ya own Bed every night.

Running Joke at work is were the P I S S Team, cause some guys in a office designed it, but we've got to get the P I S S to work!

[SB076]

Originally Posted by gcg2503

Please don't let this turn into a white collar vs blue collar debate.......

I agree

I was doing my part for the economy but now need more $$$ so i can keep going.

My main concern is the job losses - every job loss leads to more pressure on other jobs, its not a good cycle. Those 1800+ Pac Brand workers will be holding on to their money (and I dont blame them) but that means they will not be spending it on new cars, houses, or retail items which makes it harder for those industries.

[Sam_Boss260]

Originally Posted by SB076

I agree

I was doing my part for the economy but now need more $$$ so i can keep going.

My main concern is the job losses - every job loss leads to more pressure on other jobs, its not a good cycle. Those 1800+ Pac Brand workers will be holding on to their money (and I dont blame them) but that means they will not be spending it on new cars, houses, or retail items which makes it harder for those industries.

Yep and that is the viscious circle that keeps going around.

[QikSmurf]

- "I'm a Tradesman and i finished year 12 at a top privet school, I'm one of the few of my mates who didn't go to Uni and yes I currently get payed more than what they do, but you know what i work for it.-"



Couldn't help myself........if you require further explanation you should have gone to privet school

Seriously though, in these difficult economic times, there will be some people that will do it tough. This isn't a joking mater. One of my mates was sacked last week and he has 2 kids and a mortgage to pay.

Overall -

The Good: Interest rates are at an all time low. Petrol prices are relatively low. Commodities are getting cheaper every day.

The Bad: Job loses. Super funds going south. Businesses going to the wall.

As an Employer I have noticed staff aren't getting offers to switch to a competitor. It also gives us an opportunity to cut some dead wood. Sounds harsh but until recently the job market has favoured the Employees for a long time.