The economy is nuts. Mass media reports an improving economy when economists like John Williams of ShadowStats.com is scratching his head wondering why the mass media are not reporting more accurate, or shall we say, more realistic information.
Williams, who is an authority in the economy, computes employment the way it ought to be and concludes the economy is flat lining at best, but certainly not improving. Consumers are already saddled with too much debt and consumer discretionary income is strained. Family incomes are suffering. Too many people are unemployed.
Williams’ hypothesis is making a whole lot of sense. Corporations are trying to compensate for declining demand in the face of the demographic shift. The strengthening American dollar is adding more strain to subsidiaries which will likely be forced to cut back on costs, (people are one component of costs), to meet their bottom line as they roll up their subsidiariary financials into their USA parents’ P & Ls. The world is in chaos with wars everywhere burdening tax payers. The world is caught up in deflation [price discounting to stimulate demand, but can’t stimulate]. The Federal Reserve is playing games with big money and doesn’t know what to do to kick start the economy. Oil prices are falling which is good for the consumer but bad for jobs on oil rigs, one of the few centers of growing employment. Faith in America’s leader(s) is at an all-time low. In short, both the economy and the political scene are a mess, not only domestically but also globally. It makes perfect sense that anyone who has a job is experiencing anxiety about keeping their job.
I would add that it is also a BAD TIME TO JOB HOP unless you believe you have no other choice. It’s a fact that the strain on corporations may cause even more jobs to go into jeopardy. Imagine being fired, laid off, or declared redundant in this economy? A scary thought. Yet, you ought to be prepared for that scenario in case it happens to you.
It might be a good idea to do everything you can to protect your job by working hard, working smarter, and especially by producing more. Also, it might be a good idea to test the job marketplace from time to time, to try to win a job offer, outside your company, to which you could always say “No thanks” if your job remains secure. But, should your company chop you from the payroll to reduce its costs, you’d have plenty of practice at job hunting, job interviewing plus possibly some contacts and even some job offers.
Today’s job philosophy? Do your best on the job, but be ready for the worst should it happen to you.