India Knight: We don’t know what work is ”“ until we lose it

Last autumn most of my friends’ lives looked as if they might be recession-proof. I don’t know many people who work in the City, or for wobbly high street chains, and although house prices were dropping and everything was getting a bit stressful, I wasn’t personally acquainted with more than two people who’d actually lost their jobs or seemed at risk. They were feeling poorer, yes, booking holidays in Britain, going out less, not buying new clothes, buying cheaper food at cheaper supermarkets, even thinking about taking their children out of private school (although one friend who informed the headmistress of her intentions was quickly whisked aside and offered a 50% reduction in fees, applicable immediately). But they weren’t sitting in mortal fear of unemployment.

Fast forward six months and everyone’s dropping like flies. The only people who I know are doing well are my hairdressers since, apparently, people in search of cheering up the hard times with a non-grey root or a blowdry no longer travel to West End salons but walk to their local one.

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Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, Economy, England / UK, Labor/Labor Unions/Labor Market, Psychology, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--