Friday, March 26, 2010

How bad is the economy?

California remains deep in the recession at 12.5% unemployment for February 2010, up from 10.2% in February 2009. According to LA Times' analysis:
While small, the professional sector -- which includes lawyers, accountants, architects and economists -- has been hard-hit by the recession, more so than in the previous economic downturn. An implosion of commercial and residential real estate and efforts by companies to control costs has meant less work for the professions.

This suffering obviously extends beyond California. Problem is, the extent of the number of people unemployed is so large, that companies can pick and choose very specific skill combinations, and easily find dozens of people to fill their needs. It's a good time to start your own company, if you ask me. It wasn't as if you were going to qualify for a small business loan from the bank in the first place (as a fresh startup), so you might as well stop twiddling those fingers, right?

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