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Hi, I’m a fresh high school graduate going onto my first year in college (Interactive Entertainment, Game Development), but due to quarantine, it seems that those plans will have to wait. I was around during the 2008 financial crisis but I was too young to understand what was going on. Now, I’m genuinely curious as to what a recession feels like. I’m aware of jobs being lost, salaries being cut, but how bad does it get? Or rather, how bad can it get?
I’m certain that the worst hit will be the daily wage earners and people holding blue collar jobs, but can people in higher positions such as managers and CEOs be certain that they will still hold on to their jobs?
I’ve heard prices of products going up. Is that due to factories cantered in Asia getting temporarily shut down as a result of Corona? Or is that something to expect at the brink of an economic recession?
I'm 36, and French. The most important effect I've witnessed of 2008 is a huge delay in my generation and social kind careers. We were the young leaders and most of us became hourly workers. All what we've worked for vanished and for those like me whose parents wouldn't pay for several trainee programs in a row, we just had to give up the jobs we were looking for as lots of more experienced profiles were available for a couple of years. It was a real HR fair according to some people I've met since, better profiles everyday with lower expectations, they ended up picking the cheapest everytime. And the cheapest were people over 50 ok to fill junior positions, with no real skills for modern days management. That's probably why, while there are really good solutions, most companies in the world rely on excel 97/2003 (according to Microsoft "cloud trabsitionning report 2019" 78% of office files uploaded on OneDrive, SharePoint, and online office tools are under 97/2003 versions, it's a huge issue for them in terms of formatting and security, it's also the reason why a ransomware did so much damage 4 years ago)..
This was far from being a bad experience at all, and our careers are just different than the ones of our elders, 2008 made us realize that we're gonna have several careers instead of one, feeding each one with the lessons learned from the previous ones.
Hahaha, don't worry I will. I've survived worse.
For your vuiton bag, one of my various shop floor jobs was sewing vuiton stuff for a while. They have a huge factory near the center of France.
Yours doesn't seem fake looking at sews and the waxed cloth but hard to tell without a look inside anyways seems intact. Baby lotion to clean the leather, wet cloth with a little soap (pure soap bar without glycerin) for the wax. If you can find a way to translate it, we finished original leather with something called "huile de pied de boeuf" (beef feet oil, really) stinky stuff but effective as hell to make leather soft smooth and flexible and a little beeswax to seal it.
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Social reproduction and Empathy I guess. But yeah I globally had better experiences with 40-50 owners than over 55 ones. High expectations shitty wages and complete lack of know-how-to-be, I mean of course a whole chapter about how you should be in company rules, but them, complete lack of relational quality.
Boomers had forgotten one thing, and that's a basic that will make a big difference in this crisis: added value is shop floor's business!
But something tells me this crisis might have a different flag our though. Idk for your patch of the world, but here teleworking is a complete failure. "social distancing" is an odd choice of words for a physical distance, and we start seeing the results of the gap created between those that had the choice to stay at home and able to take measures ensuring a safe feeling, and those whose job didn't allow to step back. Oddly, many bosses and owners I'm working with show a complete shift of behaviour towards their lowest level workers, being here with them, on the frontline of their own business while mid-management stays at home. I've already heard a few saying " I have no managers onsite and the work is done, most of what used to be our everyday issues are solved and for once I have a pile of suggestions of improvement on my desk!"
Times to come are gonna be fun!