Blog Revision

Since the Bear Stearns incident on Wall Street, the job market has been pretty terrible. Finding a decent job in this economy is nearly impossible. Many should consider themselves extremely lucky to have a job during this "recession".


One the effects of the Bear Stearns accident, besides the job market plummeting was the reduction of how much the United States currency is actually worth. While we all know that the "value of a dollar" has changed quite a bit over the years, we are now seeing just how "worthless" it is becoming. There was a time when a person could buy a gallon of gas for less than a dollar. Now days, a dollar won't even get you a bottle of soda. I think that it is very apparent that we have no control over the "worth" of our George Washington dollar bills.


The morning after the tumble on wall street, $2-per-share sales were going out for the re-build of Bear Stearns. Many people believe/believed that this was the most significant loss in financial history. Many people have compared this "recession" to that of the one we encountered in the 1970's. There was a very similar plane of events that followed the stock market crashes in both situations. Stocks were being sold for "dirt cheap". People were in a panic. They didn't believe that their banks could be trusted. So as a result, many people started pulling their money out of the banks as soon as they could because they didn't want their financial records to be lost. This reduction in amount of money available to people naturally resulted in a great deal of work loss. Less work means less jobs, and therefore brings me to my next point.

Going into the field of architecture, I can only imagine how tough it is going to be to get a steady job. In the past few years, there haven't been an extreme amount of buildings built. In a local standpoint, many drafters and architects have been having a rough time finding work in the La Crosse area. TCI says that they haven't had many large commercial buildings, or residential homes being designed. They have had quite a few additions to the companies and people that have benefited from these tough economic times.

This makes me wonder if the job market will pick up by the time I am out of school. The way it has been going, it doesn't look like it is going to pick up much. After the last 2 years, architects in the area say that it is just now starting to pick up. Since I have another 4 years at UW-Milwaukee, I hope that by the time I am done with school, that the economy is in a much better condition, so that people start building more, and architectural firms are hiring more and more drafters.