Don’t get the impression that I take pleasure in “I told you so” comments, particularly about a subject that brings so much pain to so many people. Bottom line is the supposedly recovering economy is a farce to somewhere between 15,000,000 to 22,000,000 people who are unemployed or underemployed. Unemployment continues to rise even though the stock market is up and factory productivity is up! Its not supposed to work that way. By the time these indicators improve (sales and productivity), layoff’s should have stopped and hiring should have re-started. Not this time!
Early this week the Feds announced that the United States is officially out of the Great Recession simply because we had one month of positive numbers in consumer sales and factory productivity! Yet on Thursday (pretty much obliterated by the news of the massacre at Ft Hood) Feds announced another 190,000 job losses in October raising official unemployment to 10.2%. Government forecasts predicted only 175,000 October job losses, but they missed that call like they’ve missed every prior month this year.
The explanation for why its happening this way can be found in my prior blogs (below), “7 Reasons US Economy Doesn’t Favor Traditional Employment”
Why do I write all these ‘doom and gloom’ predications? My mission is to advise you what I see evolving for America and to warn of a dramatically changing economy and how to cope. So far, I havent provided much in the way of coping advice however I will begin to do so shortly. Self employment and entrepreneurship is at an all time high. Mostly driven by not having jobs of course, and that is precisely the point….when good job prospects aren’t abundant, people turn to themselves to survive.
The very same influences that are changing the US economy to be unfavorable to traditional jobs, are positively influencing the entrepreneur. Technology and the Global Economy are two of the biggest reasons entrepreneurs can be succesful much more easily today that ever before.
I will continue to keep you abreast of the economy and employment trends AND I will begin to comment on alternatives for survival and success in the New US Economy. As the unemployment roles grow, many who have set out on their own, forgetting traditional employment, are doing just fine independently.
Till next time. [Please see prior blogs below for a full explanation of the influences on the US Economy and how these are permanent changes]
