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I’ve said this before and I will say it again - the recession is already here. Things are already becoming more difficult each passing day even though the fuel price is seeing a slight decrease and things are supposed to be cheaper now. Companies are dying, one by one, and some without warning. People are being retrenched, and they have no choice but to go out and find job - thus making the current job market more competitive than ever before.
Furthermore, some people’s financial situation might be hit pretty hard (like yours truly) and might run out of money including those already in retirement. Try reading the news or listening to the radio and you will realize one thing - many singers/celebrities are making a come back to their respective industries. You can see there are more and more concerts being organized by stars of the past.
So, we have those retired people coming out of their retirement since they’re running out of money and we have the unfortunate people who got retrenched. What’s next? We also have those who think they are underpaid, and feel like changing their current job for another job with better pay. Or some are just the typical job-hoppers who want a better pay every few months.
Seriously, from the looks of it, the job market is indeed going to be rather competitive.
So, for now, stop spending too much money on unnecessary stuff. Start saving up and put all the money into your war chest. It’s never too late to do so. And never stop to improve yourselves so that you can be a good candidate to the interviewers. Good luck!
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2 Responses
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I was at the 1-Utama shopping mall last Monday. My reaction is - what downturn? People were happily buying. The Japanese restaurant was full. Saw about 10 people waiting in line. The gadget shops are still busy. Ppl were still placing orders for new Hyundais at the auto promo corner. So I guess the supposed effect on this group of income earners is mostly all talk at the moment. As long as they keep spending, the retailers can stay open and that’s good.
Still, if the MNCs have announced layoffs (and I know a couple that are about to) and the middle class is still happily shopping, it just makes you wonder…
@ Damien
Yeap, that’s what I feel too. People tend to spend more than ever especially with all the sales going on (and shops seem to be having sales every now and then). If consumers don’t stop spending, it’s a good thing and it can also be a bad thing. Look at the US. People spend and spend and spend, without realizing how much they can actually afford. In the end, most people cannot pay the banks back - be it properties, cars, or other credit card bills. That is one of the reasons why US is having such a shitty time now.
And who knows, maybe Malaysia is the same? Just that we’re much slower than the US