Recession is over

[Leeman4Gilmour]

http://money.cnn.com/2009/08/06/news...tune/index.htm

Perhaps a "Hiring in the oilpatch" thread should be started.

It will be interesting to see how long before the oil companies begin moving forward with their projects again. I know there's been lots of rumours about Firebag and Voyageur re-starting in the fall - perhaps they will come true.

The engineering sector should be fun. I expect a lot of turnover once things begin to pick up. A lot of those who were able to keep their jobs had to take wage cuts. I suspect they will be moving around to regain their losses.

[Nufy]

As a contractor I was able to stay employed at my current rate but my hours were drastically reduced.

There major rumblings about Sep / October and things should pick up again soon.

I am waiting on at least two full time projects that I will have to choose between.

Lets hope its sooner than later.

[Sylvanfan]

Certainly there needed to be something to get costs back inline. But I don't think I'd be expecting another crazy boom to come here. Recession over only suggests that most companies are going to stop getting rid of staff. When things do start moving forward again, they are going to be careful about hiring, and the employees who are left are probably still a bit fearful about things so they can probably be taken advantage of here for awhile. Although, if things did get going well again people will be well within their right to give it back to them.

But reading that layoff thread is pretty depressing, so hopefully things do start moving forward again and it can be a short period of time until things look a lot more positive.

[worth]

l e t s a l l p a r t y a n d g e t b o n e r s l i k e f o t z e! ! !

[Frequitude]

Voyageur will not be starting up anytime soon. Suncor wants to get into a position of being bitumen-long before even considering building an upgrader...that's just smart. I would expect Firebag and potentially Fort Hills (of the former Petro Canada) to go ahead first.

[Azure]

Over? Or just a bubble?

[Jayems]

Sweet. Im gunna go out and buy a bunch of crap i don't need!

[CaptainCrunch]

Excellent I can now use a higher quality prostitute. I'm tired of wandy the one legged dandy.

[GoinAllTheWay]

I used to think of recessions as something that would take years to get out of (dirty 30's come to mind). This came and went pretty quick, no?

[CaptainCrunch]

Ressions don't always last long. Depressions where the bottom falls out of the economic system last long.

The longest part of this recession will be the recovery.

[BlackArcher101]

By definition only the recession is over.... they still take time to recover after the fact. I'm guessing more than a year in this case.

[FlamesAddiction]

Woohoo!

Let's all go buy stuff on credit!!

[edn88]

Its only over, cause they say its over.

and if you tell enough people, and enough people believe it, then the recession will be over as consumer confidence rises and people start spending like rock stars again.

I think we need to be prepared for some hyper inflation as all of that money that has been sitting on the sidelines starts spending on stuff that should have been spent on in the last year.

[GoinAllTheWay]

Ah, depression, that's what I was thinking of. What would cause the bottom on an economy fall out and how does that differ to whatever triggered this recession?

[CaptainCrunch]

Depressions are a perfect storm, but if you look at what caused the great depression its amazing how you can compare the factors to todays recession.

http://americanhistory.about.com/od/...depression.htm