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The Business Cycle

BlueGoose

It seems to me that a certain historical perspective might be helpful to some of the younger members of the archinect community.

For good or ill, the profession of architecture is subject to the vagaries of the business cycle. As we all witnessed in the 2004 -2008 period, when the economy expands, architectural employment booms, with jobs being plentiful and wages rising with remarkable speed. However, as the economy receeds, architectural employment and wage rates follow suit.

I see a lot of posts here that appear to come from younger members of the profession -- many of you had not emerged from school during the last (post-9/11) recession. Many of those posts seem to suggest the end of the world as we know it.

To be sure, these are tough times and the pain some are feeling is real. But, as the chart below (which looks at employment across the entire economy) points out, what goes down inevitably comes back up.



An easier to read version of this graph can be viewed here: Employment Measures and Recessions

I've personally participated in six of the eight recessions covered by this graph. As painful as the current recession feels, the ones in the mid-70s and the early-80s felt a lot worse and had a dreadful impact on the profession. And yet, I and my friends in the profession during those painful years all survived and, for the most part, prospered during the ensuing decades.

I hope this information helps some of you see the current mess in a broader perspective. Good luck to you all.

 
Mar 26, 09 2:11 pm
outed

blue - thanks for posting that. very interesting. i can only vouch for 3 of those recessions but i think the reason this one feels different is the root causes are so difficult to see a quick way out of and so directly tied to our particular livelihood. previous recessions hit the profession hard, sure, and we will get back up on our feet. what quite a few of us (even those of us with 15+ years in this chase) are wondering is how worth it is anymore (at least in the traditional practice sense)? if it's 5 years of feast and 5 of famine, is that the best we can do? maybe so, but still....

Mar 26, 09 10:50 pm  · 
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