A lot of manufacturing companies have closed here in my place and have moved the jobs to other 3rd world counteries due to cheap labor. It has greatly affected to alot of people especially the ones that are laid off from work. I know that in the US right now that have big problem with their economy and most like it will also affect us here in Canada which I am seeing it already. Most of the American firms here are closed for they want to bring back the business back to their homeland.
Like me working as a collector representative for a bank, it is getting very hard to let people pay their debts especially that our clients are from the US. I feel sorry and sad for a lot of them have lost their jobs and is just barely living enough to survived. They couldn't tell as when they can make their payments for they still have to look for jobs they are just concentrating of their basic needs like food and shelter.
My husband is even worried of the place he works for especially that it is an american firm and into automotive business. If people doesn't have jobs how can they afford to buy new cars. It will affect the whole market.
I hope we the recession won't be too long and businesses would be able to recover. I hope that there will be more job opportunities in stored for this country.