From Velocity Weekly, Nov. 19, 2008
It seemed like a typical Monday.
Mariam Williams had just started her day at Main Line Broadcasting in Louisville, where she worked as a copy writer and research director.
“I had just written about three lines of a new commercial when my supervisor called me down,” Williams said.
It was about 9:30 a.m. on Oct. 13. Williams had been laid off.
And she wasn't alone. Last month, Main Line let go of several Louisville employees, including B96 radio personality J.C. White and the entire on-air staff at the rock station WLRS.
Meanwhile, local businesses have closed their doors as other companies continue to downsize amid a stream of discouraging reports from the number crunchers. Many economists believe the U.S. is headed for a recession — if we aren't in one already.
The signs are there.
In September, the U.S. economy lost 159,000 jobs, the biggest monthly drop in five years. Kentucky's estimated unemployment rate rose to 7.1 percent, up from 5.4 percent in September 2007.
But as bank bailouts and Wall Street meltdowns make the news, local 20- and 30-somethings don't need headlines to tell them things are bad. From lay-offs to failed businesses to home foreclosure, many young adults in the Louisville area are living the harsh reality of the nation's economic downturn.
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