I work for one of those industries that acts like a canary in a coal mine...and the bird is looking a little tired, like it might just have a little nap. I think that another recession this time will be global, and hence deeper, and longer lasting. At 56, and from the rust belt, I've seen a few of these; I have never seen as many sinister looking blips on the scope as I do now. My employer is one of the world's most successful in (non manufacturing) category year in- year out. There are no bright spots on the horizon for us according to our management team. 2008/2009 was a non-event down here, BTW.
Other voices: In the local press it has been reported that our mining companies will need a half million more skilled workers in the next few years. The minimum wage in that sector is around $100,000. That's for toilet cleaners.
By contrast, we have an honest 5-ish% unemployment rate as the recession did not happen here in 2008. We need lots more skilled people than we currently have. Skilled= electricians, machinists, welders, heavy equipment operators etc. There are some welder jobs that pay more than 250,000+ pension right now. It all depends where on the "iron ore>China>Walmart vector you want to be.