Beginning Impact of the Economic Crisis

I haven't really written much about this yet, but it's a near daily topic of conversation with my peers and associates.

I'll back track. Starting in October there was fear. In November my friends were facing not just fear, as in unfounded fear, but had been informed jobs were going to be cut.. and a few were. In December more and more people lost their positions - many people I know. There had been hiring rushes and everyone who had been hired just about 3 months previously were let go before their positions became secure. The hiring continues, with the same 3 month termination point.

January it got worse. February's been horrible with friends throughout Europe losing their jobs and unable to find work - even looking for positions with drastic pay cuts and unable to secure a job. March is not going to be any better. Companies with 5 years worth of operating resources are cutting their staff too.

How does this impact me? Well, first, the swing of the dollar is tremendous. Right now it's for my benefit but I don't know how much longer to expect that.

Second - I teach English which is a major skill asset. I've had students who were employed and their employers paid for their lessons... who've since lost their positions and no longer attend.

Next - I have students who've lost their job and came to me for private tutoring as they worked on the skills while searching for a new position. They've since found that position and so have cut back on their lessons.

Finally, I have had students who've not had a change in their employment but are cutting back on extras as they are facing potential lay-offs... and so they no longer attend.

PUT IT ALL TOGETHER AND IT MEANS THAT I'VE LOST A TEACHING POSITION

They've cut the classes that aren't generating the revenue they want. I'm actually facing losing my pre-school position too, as they had hoped for more students to enroll, and while one has they wanted a few more. They're profitable but not as profitable as they'd hoped for.

It's stressful. One the one hand I've been looking for new positions to fill the lost income, and on the other I am sorta hoping for more turmoil that leads to an increase in the rise of the dollar that will further offset the lost income without having to take another position and run all over the city for 16 hours each day and allow me to have a more manageable life schedule once Coral gets back. I'm tired.