Topic: Economics
Got Pruned
This author got hit with unemployement and recovered quickly. Rest of his state, not so lucky.
by Bob Nightingale
(libertarian)
Saturday, July 5, 2008
Last May, I wrote a column advocating a radical reduction of the federal government in "Aggressive Pruning Is Needed". I'm convinced it's still needed.
Last month I got "pruned" in a round of layoffs at my company. There was no explanation in my termination letter, but the writing was on the wall. No one wanted our products. Competition in the marketplace meant that customers could go somewhere else, and they did; or did without. Although I have over 20 years of experience in my field, that in itself wasn't enough to save my job. Simply put, the company couldn't meet payroll. I took the severance package and started looking for another job.
Luckily an old employer of mine was looking for someone with my skills, but not at quite my same pay rate. With this new job, I won't have to live in airports and hotels. All things being equal, I'll trade a few percentage points of income so I can be with my family. At least I get to keep my house, and my car, and pay my credit card companies. I won't have to see myself in the bankruptcy and foreclosure column in the local newspaper. Yet.
Considering what other citizens of Michigan are going through, I consider myself lucky. This state has the highest unemployment rate in the nation, edging up to a new high of 8.5% in May this year.
Charts generated from State of Michigan government website.
I'm lucky in the sense that I know a lot of people and can use the internet to find another job. I'm lucky that I found a job in which I didn't have to relocate and leave my friends, neighbors, and family. Those us with jobs will probably see an increase in property taxes as the state struggles to pay for the social safety net strained by job losses.
My short struggle is over. But for those of my neighbors throughout the state, it may be months or years before their situation improves.
©2008 Bob Nightingale, all rights reserved. You must have written permission from the author in order to republish this work.
Published: Saturday, July 5, 2008
Last modified: Saturday, July 5, 2008
The views expressed in this article are those of Bob Nightingale only and do not represent the views of Nolan Chart, LLC or its affiliates. Bob Nightingale is solely responsible for the contents of this article and is not an employee or otherwise affiliated with Nolan Chart, LLC in his/her role as a columnist.
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