Memories of Doom

[Chugnut]

I graduated in 1992. There were jobs where they said they'd had 250 graduate applicants for one job, so I suppose I was doing pretty well getting interviews. 9 months of being broke, bored to death and living in my Mum's house I finally got something. Not the best time of my life.

My Dad's business went tits up in 1990 too.

Spooky. I graduated in 92. My Dad's business also folded in 1990. I drive a Vectra.

Am I you? Are you me? Who's Spartacus?

[VectraMan]

So I ended up back with mom & dad, didn't work at all for six months, ended up taking a school leaver level job and working my way up (which didn't take that long luckily).

I started out on employment training (£45 per week) which was meant to be combined with a business studies course - all a bit strange and it was only because a friend of my Dad's ran the scheme that I got onto it. I had to lie about where I lived to qualify too.

Fortunately the company treated it as a trial, and after a month offered me a proper job with a proper salary (£12K IIRC). I don't think they were really looking for anyone, but they obviously realised I would be useful and made it happen. Maybe if I'd had to go through an interview process I wouldn't have got that.

[DimPrawn]

Memories of Doom

What a great PC game that was. Fantastic.

[Gonzo]

I graduated in 1993 and the market was tough.

I had wanted at that time to join the civil service (I know ) but at that time so did everybody else because there were so few jobs about. I passed the graduate recruitment tests but that was the last that I heard.

So I ended up back with mom & dad, didn't work at all for six months, ended up taking a school leaver level job and working my way up (which didn't take that long luckily).

[VectraMan]

I can relate to the point about uni graduates being two a penny.

I graduated in 1992. There were jobs where they said they'd had 250 graduate applicants for one job, so I suppose I was doing pretty well getting interviews. 9 months of being broke, bored to death and living in my Mum's house I finally got something. Not the best time of my life.

My Dad's business went tits up in 1990 too.

[AtW]

There was an article in the "Home" supplement of the Sunday times explaining why there won't be a property crash.

Oh that's all right then - EVERYONE THE HOUSE PRICING CRASH IS CANCELLED, EVERYONE BUY HOUSES!!!!

[Troll]

The recession in the 90s was nothing like that of the early/mid 80s, that was really grim

The 80's affected mainly manufacturing & saw the demise of the UK manufacturing base, as such it hit the North more than the South and the effect as you rightly say in the North was grim but left the South relatively unscathed.

The 90's hit the financial heartland of the SE hardest

[Troll]

Dreary little houses in dumps such as Fulham and Shepherds Bush (and larger dumps like Newcastle and Manchester) were fetching ridiculous prices.

That's fightin talk!!

I was largely insulated from the effects as the company I was permie with was in a growth phase so only shed a small % of the workforce, but I recall meeting a qualified electrician chum who said if you were in a job whatever you do don't leave - he'd gotten rich from a contract in docklands diversified into manufacturing, & got burnt by the downturn- couldn't even keep his core electrical side going & eventually he went bankrupt, lost his house etc.
I also know loads of others who were repossesed, gave the keys back or were trapped in negative equity for sometime.

I personally timed the breakout into contracting perfectly as there was still a lot of FUD in the City at that time but by then the the market had turned and contractors were being hired again to fill in for permies who had been let go .

I'd hate to be in a postion now of high mortgage + young kids + job insecurity, but it's important to remember that no matter how things get it will always get better

[Churchill]

There was an article in the "Home" supplement of the Sunday times explaining why there won't be a property crash.

[sunnysan]

Dot Com Crash

I got pummelled during the dot com crash. I got made redundant and tried for a month to even get an interview to no avail.

I didnt fancy sitting at home so I got agency work as a builder while I was looking, I ended up doing rigging and chippie work which was tiring but actually much more rewarding than IT in every sense but financially.

After 4 months I got a gig, and everything has been ok from there.

[Bagpuss]

The recession in the 90s was nothing like that of the early/mid 80s, that was really grim

[Clippy]

Interesting article regarding the last recession of the 90's in the Telegraph.

I'm sure there are some on this board who were to young to know/care about it back then but this article provides a snapshot of what was happening back then.

I can relate to the point about uni graduates being two a penny.

A lot of my friends stayed on at uni to do Masters degrees as there were no jobs around at the time. I was relatively lucky in that I was living at home and managed to go full-time at my job at the local flicks until I got my first 'proper' job.

Any of the congregation have any similar war stories?