EmploymentCrossing
log in 

JOB SEEKERS, Try it Now 

EMPLOYERS, Post Jobs 
Search Resumes
 

What Where


Search in Job Title Only

upload your resume

Select Country:


+ Browse Jobs    + Advanced Search    + Search Tips
Jobs >> Articles >> Employment Career Feature >> What's the Recession? Where's the Recession?
  • Employment Career Feature
What's the Recession? Where's the Recession?

If you go through industry reports thoroughly there are certain things in the current recession that do not match up. While joblessness continues to grow and the earning situation of the average American employee remains unstable, certain businesses continue to show record profits across sectors throughout the recession. While the reasons may vary in each case, there is no doubt that in every sector of the market, competent and powerful organizations show no sign of being affected by the recession.

Throughout the recession, communications industry majors have rarely shown downturn in profits. The communications industry depends upon providing service to individual consumers and runs upon payments made by them. Profits in the communications industry is a clear indicator that the common American consumer has not cut down on spending. So, where's the recession? In fact, AT&T posted a 25% revenue growth over the last three years, and the voluntary spending made by ''recession-struck'' consumers has fueled that growth.

The oil industry depends to a great extent on how much average Americans spend on transportation. The choice of cutting down on fuel consumption is always available to a certain extent through public transportation systems and choice of lifestyles. However, even through the recession years, companies like ExxonMobil show profits between $3.1 and $4.7 billion a year. Average consumers do not seem to have cut down much on fuel expenses during the recession, if we take the industry profits as an indicator.

Banks are a good indicator of consumer economic health, and banks do not seem to be affected by the recession if you take a closer look. Even Bank of America, which needed to be ''bailed out,'' has paid back the bailout money, and then posted an 80% revenue growth over the last three years of ''recession.''

Besides banks, asset management firms are also good indicators of economic health and even with the overheating of the stock market and repeated crashes, asset management do not seem to have taken a beating, in reality. For example, BlackRock, one of the biggest asset management firms showed $4.7 to $5 billion in profits during the ''recession.''

Healthcare, of course, is being subject to radical experimentation with the outcome yet unknown, though citizens hope for the best. The best part of the story in healthcare is even during the ''recession'' firms like United Healthcare posted profits of $3.8 billion in 2009. Now, one might say, that is because they are in the insurance business, but then even non-profit caregivers as Adventist Health System had a profit of $363 million in 2009.

So, back to my original question, ''What's the recession? Where's the recession?'' Despite strong growth and profits shown in almost every relevant sector of the market joblessness continues and even in August, the private sector shed a higher number of jobs reversing a six-month trend of job gains. Job losses have been the greatest in the goods producing sector, construction, and financial services, though in the services sector there has actually been an increase in employment.

The jobs situation vis-a-vis business growth and profits show severe anomalies that are hard to explain unless we accept that the private sector is hesitant to take risks due to uncertainties regarding future fiscal policy and tax rates. The radical healthcare law that undermined the sovereignty of states and already made it difficult for most hospitals run by local governments to remain economically viable has made businesses in other sectors apprehensive. There is recession, but scarcely lack of cash or profits. The fact is, businesses want to be sure of things before they start investing in new projects and start recruiting. So, whether things are going to look up, or there's going to be a double-dip in the recession depends largely on the way the government handles things.

Popular tags:

 fuel consumption  local governments  exponential growth  ExxonMobil  expenses  recessions  Adventist Health System  trends  volunteers  organizations
Rate this article:

      
Printable Version  printable version Email to a Friend  email to a friend Comment  add comments

Comments

article ID: 230720     http://www.employmentcrossing.com/article/230720/What-s-the-Recession-Where-s-the-Recession/

article title: What's the Recession? Where's the Recession?
Comment not found for this article.
add comments add comments

Related articles


Facebook comments:


Find Jobs in Every Industry and Location that No One Else Knows About

Other job sites only show jobs employers pay to post.

We show jobs from every employer career page, job board and news source we can find.
Tell us where to send your access instructions:

Your Email:     
new jobs this week
on EmploymentCrossing
766,816
jobs added today
on EmploymentCrossing
209,499
job type count
on EmploymentCrossing
Healthcare Jobs
378,206

Information Technology Jobs
314,654

Managerial Jobs
311,095

Blue-collar Jobs
242,604

Recruiting Jobs
236,630

Sales Jobs
216,939

Retail Jobs
216,707
top 5 job searches
Get your risk FREE trial
jobs near you
International jobs
Work at home jobs
UK jobs
Canada jobs
New search feature using US map. click here

Looking for a new job in your city? click here
Sign Up now
*Email:


VeriSign Secure Site  

Only EmploymentCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.

  • We have more jobs than any other job board.
  • We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites.
  • We collect jobs from more than 3,507,709 websites and post them on our site.
  • Employers can post jobs for free at EmploymentCrossing.
  • We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.

    today's featured job
    Director of Human Resources
    United States-CA-San Francisco

    We Are Looking To Hire A Director Of Human Resources To Manage The Activities Of All Three Us Locations, Reporting Into The Vp Of Global Hr. The.....

    Click to Apply for - EmploymentCrossing.com
    post your resume
    • Make your resume viewable to thousands of employers.
    • Employers can look you up in our database.
    • Get job alerts based on your resume.
    upload your resume

    Your privacy is guaranteed. We will never give out, lease, or sell your personal information.


    Employment Research Institute

    Privacy Policy by TRUSTe  VeriSign Secure Site
    EmploymentCrossing - #1 Job Aggregation and Private Job-Opening Research Service — The Most Quality Jobs Anywhere
    EmploymentCrossing is the first job consolidation service in the employment industry to seek to include every job that exists and not charge employers to post jobs on its site. EmploymentCrossing uses sophisticated technology and manual work to comb employer websites and other job boards for jobs and bring them all to its site.

    Copyright © 2012 EmploymentCrossing - All rights reserved.