I'm interested in seeing how the unemployment numbers break out.
In the recent past, unemployment amongst people with a Bachelor's degree or better is about 2.2%^. So nearly zero. I'd imagine, though I'm not sure, that most people on HN have a bachelor's or better and thus most of us are at a lesser risk of unemployment than others. I think when this number changes we will know it's fundamentally different from other recessions that we've had in the last 30 years.
It's the rest of the population that takes the brunt of the economic downturn. Recently there has been reverse immigration, people leaving the US^^. And most of the people that are being hurt by unemployment don't have proper skill sets to just get another job.
I know a number of internationals working in the US and they are all still employed and in demand. Most people think that people on Visas are at risk. In fact I think there are plenty of jobs for the well qualified. Most of the professional Visa / Green card holders in the US got here because they were uniquely qualified - and that doesn't change with an economic downturn. There is, especially from my perspective, still continued demand for good IT people and good programmers^^^. Against popular belief but understood here at HN; not all programming jobs are outsourced. But many high schoolers and their parents believe this, so there are less people going into tech. This, of course, is good news for those of us who are already in tech. It also does a great job protecting us from economic downturns compared to other fields.
The WSJ, as usual, is out to sensationalize business as much as possible. I like the WSJ and read it regularly. I try to take it with a grain of salt. They'd like to have you believe the economy will never turn around. Because then when it DOES turn around it'll be great, new and unexpected news. In the end it's all about page loads or papers sold after all.
Comments
I'm interested in seeing how the unemployment numbers break out.
In the recent past, unemployment amongst people with a Bachelor's degree or better is about 2.2%^. So nearly zero. I'd imagine, though I'm not sure, that most people on HN have a bachelor's or better and thus most of us are at a lesser risk of unemployment than others. I think when this number changes we will know it's fundamentally different from other recessions that we've had in the last 30 years.
It's the rest of the population that takes the brunt of the economic downturn. Recently there has been reverse immigration, people leaving the US^^. And most of the people that are being hurt by unemployment don't have proper skill sets to just get another job.
I know a number of internationals working in the US and they are all still employed and in demand. Most people think that people on Visas are at risk. In fact I think there are plenty of jobs for the well qualified. Most of the professional Visa / Green card holders in the US got here because they were uniquely qualified - and that doesn't change with an economic downturn. There is, especially from my perspective, still continued demand for good IT people and good programmers^^^. Against popular belief but understood here at HN; not all programming jobs are outsourced. But many high schoolers and their parents believe this, so there are less people going into tech. This, of course, is good news for those of us who are already in tech. It also does a great job protecting us from economic downturns compared to other fields.
The WSJ, as usual, is out to sensationalize business as much as possible. I like the WSJ and read it regularly. I try to take it with a grain of salt. They'd like to have you believe the economy will never turn around. Because then when it DOES turn around it'll be great, new and unexpected news. In the end it's all about page loads or papers sold after all.
^ http://www.bls.gov/emp/emptab7.htm
^^ http://latinobusinessreview.blogspot.com/2008/12/hispanic-im...
^^^ Reported by the ACM so take it for what it is... http://www.cio.com/article/466228/IT_Careers_Expected_to_Sur... and http://www.networkworld.com/newsletters/edu/2008/120108ed1.h...
[EDIT: Formatting, and some additions ;-)]