Grab the aspirin, shred the 401(k) statements and turn the TV to a feel-good station: The recession ain’t going anywhere, so it’s best to get away from the bad news for a while.
The nation found out yesterday that we’ve been in a recession for a year – no shocker for most of us. The, ahem, good times will last through much of 2009, National Bureau of Economics Research analysts said in a report. That means the stock market will remain volatile and unemployment is sure to continue rising.
For the telecom industry, recession has been both okay and not okay. For example, bandwidth and data demand have grown as Wall Street traders need to be able to instantly submit their trades; and, companies are reducing travel and using telepresence instead. But, on the other hand, equipment makers, mobile VoIP providers and Ethernet firms have been cutting staff as they foresee slower times ahead.