Careers

Who lost their job in the great Recession of 2008-2009?

  • Last Updated:
  • Jul 4th, 2018 4:25 pm
Deal Addict
User avatar
Mar 29, 2008
3205 posts
469 upvotes
MyNameWasTaken wrote:
Jun 18th, 2018 11:03 pm
First off, GREAT thread OP.



How did that work out for you? Did you return to accounting?



Oh yeah, the insurance industry was clobbered. Well, it was American International Group that caused the great recession and got bailed out. Not as big as they once were, but appears to be coming back now that they no longer have oversight.
Agreed - nice thread.

Here’s an interesting article on AIG and the 2008 recession: https://insight.kellogg.northwestern.ed ... ong-at-aig
Sr. Member
Nov 21, 2014
656 posts
685 upvotes
Atlantic
Chiming in here, even though I wasn't working then.

Entered university with a co-op program in September 2008.

Spring 2009 was my first co-op term; there were very few positions posted on our job site and even fewer interviews. Despite the university having a 90%+ co-op placement rate in past years.

Upper year students were encouraged to try to return to their previous placements/employers if they were able to or had the connections to. First time co-ops were out of luck (we later found out the placement rate for that term for first time co-ops was 40%)......I found a job through a family/friend connection.

After graduating, I still found the job market difficult as a new graduate. The first full time job is always the hardest to get, no matter the time period or economic cycle; the saying about it being the hardest at the beginning is true.

Eventually lucked out and found a job in my field (by God's grace) after about a year.
Deal Addict
Dec 13, 2010
1677 posts
663 upvotes
ON
I'm wondering what sectors people lost their jobs in the 2008-2009 recession. I'm in IT and we didn't get hit. Not to say things didn't get tight over the next 5 years. Less raises and increases for sure.
Deal Addict
Sep 7, 2004
1556 posts
459 upvotes
Toronto
I entered the workforce at basically the beginning of the great recession before everyone knew it was a recession. Was lucky not to lose my job but I was unionized and in an entry level position. It seemed like mid-upper management folks were the ones who were targeted for the restructurings. During the recession the company I worked at put in a wage/hiring/promotion freeze that lasted for 3 years so that was kind of brutal being stuck in an entry level role with an indefinite freeze on career progression but I guess I was just happy to have a job.
Deal Expert
User avatar
Apr 21, 2004
50603 posts
15370 upvotes
I hope this thread doesn't turn into "Who will be losing their job during this crazy trade war" and the various nations get into some close to equitable arrangements.

I know China doesn't play well with rules but the US is singling out each trade partner.

Top