American Packet

Article by Cedric Welsch

Is the US economy headed towards Japanese styled deflation? This is the worrying question doing its rounds in the economic intelligentsia. The very thought of deflation invokes discomfort as it made the Japanese economy sluggish for years together. But just what the hell is deflation? Deflation is an overall decrease in the general price level of goods and services in an economy. It should not be confused with disinflation, which is just a decrease in the rate of inflation. Deflation is a negative rate of inflation or a sub zero level in which, the value of money increases and consumers can actually buy more for their money than they could before deflation set in. Effectively, deflation increases the purchasing power at the hands of consumers for the money they have. Hmm! More goods for my money! That doesn’t sound bad at all, then why such a hue and cry about deflation.

The problem with deflation is the trigger which leads to deflation. Deflation usually occurs due to a fall in the aggregate demand in the economy, which gradually leads sellers to drop prices of existing inventories to get rid of their over stocked positions. Lower demand leads to capacity utilization falling below optimal levels and signals a cut down in investment. The result is that the economy starts to slow down, and the industrial, and business activity, and the economy sink into a low growth cycle. To get an economy out of such a dilemma, interest rates can be lowered and government spending can be increased. But, how does one achieve that when, interest rates are already close to zero levels and government spending/fiscal stimulus is overleveraged. Deflationary periods also tend to commence after periods of economic depression and recessions, which have led to interest rates being lowered and fiscal stimulus being applied. Thus, deflation can naturally result after recession.

Deflation led contraction in business activity further leads to reduction in employment and consumer sentiment. Thus a vicious cycle sets in, with a dilemma for the government on how to exit such a deflationary cycle. Inflation in the US is subdued at this point of time. A gentle rate of inflation is usually suggestive of a healthy economy as the slight amount of excess money in the economy leads to firm demand for goods and services, which in turn encourages investment and employment generation. Deflation does just the opposite.

The condition of the US economy does point towards a weakening economic cycle. Home sales are in a slump, consumer confidence has ebbed, industrial growth is refusing to pick up, and employment numbers not picking up. Core inflation, which does not include volatile price items, reached its lowest since 1996! These eventualities lead to the question if the writing is on the wall!

So if such a situation is anticipated for the US economy, just what are the remedies that could be exercised? A key US fed official has suggested that the Fed buy US securities in order to release more money in the economy. This could technically work, but confidence in the economic process and consumer sentiment are a key for this, which requires more money in the hands of the consumers in a sustainable way. Thus, employment generation, investment etc., are important and just quantitative easing by itself may not be very helpful.

Article by jekky

First, the background of a low carbon economy As the global population and growing economic scale, energy use caused environmental problems and their incentive to continually been recognized, not just smog, photochemical smog and acid rain damage, etc., in the atmosphere of carbon dioxide (CO2) concentration with Global climate change has come to be recognized as an undisputed fact. In 2003, the British government released the energy white paper?? “Our energy future: creating a low carbon economy”, for the first time clearly proposed the development of “low-carbon economy”, that is, low emission, low energy consumption, low pollution, economic, social and ecological benefits of integrating the new economic development model. In this context, the global energy and economic structure of ecological civilization is out of step by step towards a new path, that is, abandon the traditional growth pattern of the 20th century, the direct application of the new century, innovative technology and innovation system, through the low carbon economy low-carbon lives way to achieve sustainable social development. Investment Advisor in the environmental industry researcher Hou Yuxuan that a low carbon economy based on clean, low-emission-based economic model, and its essence is the efficient use of energy, clean energy development, the pursuit of green GDP title, “low-carbon economy” has become a global hot spots, known as the Fourth of mankind, “low-carbon revolution.” Europe and the United States and other countries have been vigorously promote energy-efficient, low emissions as the core of the “low-carbon revolution”, and focus on developing “low-carbon technologies”, and industry, energy, technology, trade and other policies of major adjustments to seize opportunities and industry high ground. Second, China’s policy of developing low-carbon economy continued to increase efforts As early as September 8, 2007, Chinese President Hu Jintao once in the Asia-Pacific Economic Cooperation (APEC) leaders meeting on the 15th, in the spirit of mankind, the future of the highly responsible attitude is related to the Chinese people, the people of the Asia-Pacific region welfare of the people of the event and the world, solemnly made four proposals, clearly advocating “the development of low-carbon economy”, attracted worldwide attention. He in this important speech, said a total of 4 back to “carbon”: “the development of low-carbon economy”, research and development and promotion of “low-carbon energy technologies,” “increase the carbon sink,” “promote the development of carbon sequestration technology.” He also suggested: “National Climate Change carried out publicity and education to raise public awareness of energy saving, so that every citizen initiative for the mitigation and adaptation efforts to climate change.” It also issued a call for people across the country, put forward new requirements and look forward to. President Hu Jintao and recommended the establishment of “the Asia-Pacific Network on Forest Rehabilitation and Sustainable Management”, jointly promote Asia-Pacific forest rehabilitation and growth, climate change mitigation. State Council executive meeting held recently proposed to develop a green economy, expand domestic demand in close connection with the decisions and arrangements to promote economic growth, fostering a low-carbon emissions characteristics of the new economic growth point, in order to speed up the construction industry is characterized by low carbon emissions, construction, transport system. Tongji University, Institute of sustainable development and management of various Dajian think this is that countries want to develop low-carbon economy, a signal will be the leading core of China’s economic transformation. “In the world economic situation has undergone significant change when the low-carbon economy will bring significant business opportunities, to seize this opportunity, it will occupy a bridgehead for the future world economy.” Zhu Dajian said.

Article by Geri Coer

Crowding In is the new mantra that the US government may be trying to use to boost the US economy. The more commonly used term in economics is crowding out, where government borrowing program sucks liquidity out of the economy and raises interest rates. This leaves less money at the hands of private investors for investing and leads to crowding out of private investment. Effectively, the government and the private sector compete for funds. The US Fed seems to be attempting exactly the opposite at this point of time. By buying government paper, the US Fed is leaving more money at the hands of private investors to either spend or invest.

The US fed believes that crowding-in can lead to increase in the investment and consumer spending in the US economy, thereby providing another round of stimulus. Increasing money supply in the economy by this methodology is also likely to stave off the chances of deflation as now there will be more money chasing the same number of goods and services, which is likely to put an upward pressure on prices and this should prevent any downward fall in the prices. More money at the hands of private investors could also potentially lead to an increase in investment activity and hopefully improve the employment numbers. The unemployment in the US has been close to 10% for a considerable period now.

However, the US has faced considerable flak from other economies on its move to buy around US 0 billion worth of government paper. Such a massive injection of liquidity into the US economy is likely to increase money supply and lower the value of the US dollar. A weaker US dollar makes US exports more competitive and nations like Germany have attacked the US for its easy money policy leading to a weakening of the US dollar. However, the US Fed has denied any intention to weaken the US dollar and has stated that the objective of this exercise is to provide a boost to the US economy. The Fed further added that the move aimed at stabilizing prices and boosting the US economy are the twin tools to provide long term strength to the US dollar. Thus, one could witness a short term weakness in the dollar, and if the policy moves lead to the strengthening of the US economy, a stronger dollar could be the result in the long run.

The US Fed has also clarified that the move to purchase government paper does not amount to monetizing of debt as it is not indulging in purchase of new treasuries. Purchase of new treasuries would have meant funding of government deficit and would have amounted to monetizing debt. Effectively, the Fed has put more money in the hands of private investors now and can reverse its policy decision, once the economy gains traction. The move is also likely to weaken the US dollar in the short term, which is reflective of the state of the US economy. A reversal of the current policy decision once the US economy flexes its muscles, could make the US dollar stronger, quite in line with the underlying strength of the US economy.

Article by Erik99bass

China is definitely exercising an open market economy or socialism. This employs an open market economy in which a China Manufacturer is component of it. Socialism is definitely an economy which means the production and also allocation of resources is very well dispersed regarding economic demand. Nonetheless while China is exercising socialism as well as open market economy still it has to go via the government and also underneath the supervision of the Ministry of commerce. With all the involvement of the government everything have been favorable come back in their economy. The People’s Republic of China is the world’s 2nd largest economy along with the number one exporter and also importer of products worldwide. To follow the United States of America as fastest increasing economy.

China Manufacturer do not effortlessly obtain and also attain their success and acquiring the interest quickly in marketing wholesale apparel. They’ve gone through a lot of challenges but since they made a decision to have change within their system including making the nation a socialist 1 as well as an open market economy, improvements begins to occur. Along with changing their economy certainly is the reform of their government. It has been determined that the stable govt results into a steady economy. As well as it had been what happened to China’s economy. An open market system is not simple to deal with for diverse types of transaction are inclined in and out concerning economy

Just as with China Manufacturer fortunately it really works properly in an open market economy, simply due to the fact of the cooperation by the federal government as well as its work force. This ought to serves as an motivation to nations for instance India. India contains the most basic and in demand resource all over the world that is the oil. The thing is that they can not acquire stability simply because of their corrupt governing administration. Or else so they might be richer than United States of America and so as to the People’s Republic of China. However , unfortunately not, it just somewhat much like the wholesale apparel of China by which although a lot of manufacturers internationally are offering and delivering or selling bulk of clothing however because of the marketing promotions and also advertising utilized by China Manufacturers still a great deal continues to be purchasing it.

Such as China, India or other state can develop like china manufacturer . It just needs a well balanced and a definitely not corrupt administration or perhaps government and also diligent men and women who do their work with love, passion and also commitments.

Article by Stewart Wrighter

When the economy hits a slump and unemployment rises, people panic because they believe there are no jobs to be found. While many people may have a tough time finding employment in a slow economy, there are jobs that will always be plentiful no matter what happens. Part of this is because there are plenty of opportunities and there are never enough people to fill all of the openings in these fields. Another reason is because no matter how bad the economy, these fields do not slow down. For instance, when the economy slows, retail jobs are cut back because people are not shopping as much. However, no matter how bad the economy, people will always need medical care and treatment, so jobs in CNA and caregiver jobs will always be available. The cycle of life continues and with it comes illness and injury, so if you have medical expertise and experience, there will always be jobs available to you.

Weather-related work is another option for an evergreen profession. If your work is dependent on the weather, you are likely to always have work. These include meteorology, snow removal or clean-up following weather-related emergencies. The economy will have little effect on the weather and natural events, so if your expertise deals with the climate, you are likely to always be able to find work. Many weather-related jobs can be done part-time or in addition to traditional work, so the jobs can be especially beneficial during lean times.

Seasonal jobs are also a great option for poor economic times. Landscaping will need to be done regardless of how the economy is doing. In a slow economy, people may cut back on elaborate luxury landscaping jobs around their homes, but tree trimming, lawn mowing and general maintenance will still need to be performed. While you may find you have fewer clients because people are handling the tasks on their own, you will always have the option of working with those who are physically incapable of handling lawn maintenance and landscaping.

Indoors, there are a number of home repairs to do, regardless of the economy. Again, there will be more do it yourself projects during lean economic times, but if you are an expert with plumbing, electricity or general home repairs, there will always be a market for your services. If you are looking to enter a career field that sees little effect from the ups and downs of the economy, consider learning a trade. These skills will always be needed and you will always be able to find work.

Finally, you always have the option of being creative and looking for new opportunities. If you possess an entrepreneurial spirit, you may be able to invent new ways to make a living no matter how much the economy slips. There are plenty of creative ways to make a living and if you want to be your own boss, a there is no better time than a slow economy to develop ways to earn an income in new and creative ways.

Article by Baiju

The horizon of Indian Economy is presently very bleak and dark, and so has it been for the last fifty years. The slow and sluggish Indian Economy can be attributed to a number of factors that have prevailed in India ever since we got our independence. The factors are many, and they are, recession on the home front, recession in all commercial and industrial playgrounds, and above all these the political instability. All these factors have together led to the complete sluggish growth of the Indian Economy. In this disappointing scenario, the only redeeming feature seems to be the economic scenario on the International horizon, which is also fraught with recession, and it is this that gives India a slight breather.The fate of Indian economy is largely dependent on the trends of the world economy and it is this world economy that is now in the clutches of the worst ever crisis. The Stock Markets are crashing, industrial production has slackened, political upheavals are a common feature and the decline in exports in terms of important commodities is prevalent on a world wide scale. With all this in the world, it cannot be expected to find India escape unscathed or unblemished.However, even with all this disappointment all around, we may recover from these painful shocks. Mr. yashwant Sinha, the Finance Minister 1998

Article by Bruno Korschek

The latest economic indicators have been trending downward with unemployment going higher and eocnomic growth slowing despite the many programs implemented by the Washington political class. However, by almost any benchmark you can imagine and track, every one of these programs failed to deliver on its objectives. The list is impressive in its breadth and its degree of failure:

- Cash For Clunkers

- Cash For Caulkers

- Cash For Appliances

- Economic Stimulus Program (0 billion worth of non-stimulus)

- Small Business Incentive Program

- First Time Home Buyer Rebate Program

- HAMP Mortgage Adjustment Program

All failures. Which raises an interesting question: is there anyone in government or the political realm who knows how to fix an economy since the people currently in the American political class wings of the U.S. Congress and The White House are at least 0 for 7 in their attempts to do so?

One would have thought the Federal Reserve Board might be able to launch some sort of a successful economic recovery plan. The Fed is staffed by highly educated and experienced economic-types. The Fed itself has been around for decades so one would hope they have some institutional memory and experience to draw on to help the economy.

Unfortunately, it does not appear that the Fed is much better than, Obama, Reid, Pelosi, and the rest of the DC politicians. Fed Chairman Ben Bernanke has been busy trying to do some economic repair via his Quantitative Easing (QE) programs. The latest iteration of of his QE program involved the Fed creating about 0 billion out of thin air to buy back Treasury bonds. According to an article in Moneynews on June 30, 2011 by Forrest Jones, the intent of QE was to spur on the economic recovery that is currently slogging along very slowly.

Mr. Jones noted that the latest QE round did have some limited success:

* It probably pumped up stock prices since the S&P is up 25% since the program started in August of 2010. However, it is impossible to know how much of that increase was due to QE since other economic factors were also changed during the past eleven months (e.g. suspension of some Social Security payments to put more cash in the hands of consumers).

* QE may also have diverted the economy from deflation which would have further crimped any economic recovery. However, it remains to be seen if deflation was a real threat, given it has never before been a real threat to the U.S. economy.

Two possible, but shaky positives from the process. However, there were some definite negatives to arise from QE:

* The value of the dollar is down 10% over the past 11 months, not surprising since the latest versions of QE put an additional 0 billion into the economy to compete with the existing wealth and dollars already in the economy.

* Gasoline, food, and other products are more expensive since the weakened dollar means it takes more dollars to buy the same products and services than it did a year ago.

* Consumer spending was basically unchanged during the QE buyback period.

* Jobless rates have been virtually unchanged since the program started.

Thus, if QE was supposed to spur the economy it has done a pretty poor job, not increasing spending, not decreasing joblessness, and quite possibly igniting inflation in the process of accomplishing nothing.

Don’t believe these results? Consider the opinions of some so-called experts quoted in the article:

- Michael Gapen, senior U.S. economist at Barclay’s Capital: “If you look at it from the point of view that you wanted to make the recovery stronger and more durable, you would have a lingering bad taste in your mouth.”

- John Ryding, chief economist of RDQ Economics: “QE2 was a terrible mistake, and I think it has been counterproductive for economic growth.”

- Guido Mantega, Brazilian Finance Minister: “It serves no purpose to go throwing money from a helicopter.”

- Lou Crandall, Wrightson ICAP: ” The damage to the Fed’s reputation as a bastion of financial stability is irreparable.”

- Ethan Harris, Bank Of America: QE2 was “merely better than for the Fed to announce ‘we are giving up.’”

- Vladimir Putin, former Prime Minister of Russia, denounced QE2 as “hooliganism.”

- Sean Snaith, University of Central Florida: This was like Vick’s Vapor Rub for markets. No cure, but it eased the symptoms.”

Wow, a two-for-one deal. Your economic program did very little good but in the process you destroyed your organization’s reputation. Thus, add Mr. Bernanke’s name to the others in Washington who cannot find a way to fix an ailing economy.

Maybe it is time to simplify life and get back to basics. No more massive government intrusion into the economy. Let the economy work the kinks out on its own as people create products and services that others want to purchase and consume. At the most basic level, isn’t that only what an economy is?

No more massive government interference, managed by people that we now have confirmed have no idea what they are doing in the economic realm.

No more 0 billion currency manipulations by the Fed, who we now also know has no idea how to fix things.

No more uncertainty in the marketplace created by politicians who do not know how to put any kind of long term plan together and stick to it, whether it is taxes, depreciation, energy, infrastructure, health care, etc.

Let us just get back to basics, working people and businesses creating wealth to be shared with other working people and businesses. In the process, we may find that the economy heals itself, better and quicker, than Cash For Clunkers and QE could ever do. Because if Cash For Clunkers and QE are your benchmarks, it is obviously a pretty low bar to get over.

Article by Manoj Kumar

Since the early 90s there has been quite a bit of change in the world economy. This change can be seen in how countries interact with one another, how many Third World countries are coming out of poverty, and the general shift in how work is being done. In this article multiple ways in which the world economy has changed will be examined, both for the good and the bad.

One of the biggest signs that the world economy is shifting is the way in which Third World countries, such as China and India, have come out of near poverty to become major influences within the world economy. They have quickly surpassed such major economies as France, the United Kingdom, and Germany to become major powers, and have a major influence over the money in the world. These countries, once known for mediocre products and an overabundance of people, are now producing many of the world’s major brands and shipping them throughout the world. India is producing top-notch engineers, IT professionals, and business professionals at an astounding rate.

While these countries are thriving, other countries are still continuing their battle to just simply get by. These impoverished nations struggle to provide food, water, and basic essentials such as schooling to their population. It is true that the rich keep getting richer and the poor keep getting poorer. Unfortunately for these nations their struggle may continue for decades to come.

One of the largest shifts that we see here in the United States is a transition away from “normal” jobs such as mining, manufacturing, and farming. These industries, once a stronghold in the United States, have largely been outsourced, or were taken over by major corporations that have reduced much of the major workforce in these industries. Knowledge work, such as banking, finance, technical computer programming, account management, and high-level engineering are all much more valued in the United States. This is in stark contrast to what the United States was built on in prior centuries.

Another sign of the changing economy is how integrated much of the world is. A person in the United States can now easily contact somebody in India, China, or Romania and outsource much of the work that would normally be done by that individual. High-speed Internet and faster computers have both contributed to this factor. As the Internet and computer speeds continue to increase, so too will the world’s interaction. While many normal individuals will not see this change, large corporations are taking advantage of these operations now.

Another major change in the world economy has just manifested itself. With the downgrading of the United States credit rating by the S&P, many countries will reevaluate their current partnership with the United States. Although most may not change their current relationship, there may yet be ripples that will affect many countries, including the United States in the decades to come. With a chink in the United States armor, there is a greater possibility that other countries will step up and attempt to lead the world.

It is reported that 8.75 million jobs were lost during the recession. These jobs mostly paid moderate to high salaries and wages. One example, talked about in a recent article, stated that a woman who had earned an hour as a health department caseworker lost her job and is now working for an hour in an after school program. Her husband, who had a ,000 a year job, was laid off and is currently unemployed. There are literally millions of stories like this and the real devastation will probably play out for decades to come. Consumer spending accounts for 70% of the U.S. economy and with little chance of regaining these decent paying jobs, consumer spending will probably dip lower than it already is. In the face of data such as this, a quick recovery of the U.S. economy is unlikely. This represents just one of the signs of a changing world economy and one can wonder if this is temporary or a permanent leveling of the world economy field.

We must continually stay vigilant in this ever-changing world and remember that we must adapt to whatever situation may present its self.Written by John F Smalley

Article by Kate Manheaven

Let us face facts. The economy cannot be fixed by the government alone, and you will need to be cunning and inventive on your own if you want to succeed with your business in this economy. In this special feature I will tell you how to help your business by improving your product labels. Sometimes, you just need the right kind of cheap labels that will actually give you an affordable but powerful pull in marketing. So listen to these very important tips about printing labels and marketing in this bad economy.

1. Make them more competitive – If you want a clearer way towards your marketing goals, you will want to beat most of your competition. That is why for your labels, you will want to be more competitive with other products and labels. To do this, you will need two things.

Your label designs must have originality as well as direct target market appeal. If you integrate both these concepts into your label design and label printing, you should have done the first major step in actually dealing with your business problems, and helping it succeed amidst the troubled economy.

2. Make them more appealing to audiences – Another big thing that can help your business in this economy is for your labels to have better and more potent audience appeal. Audience appeal here comes in the form of specific content and design elements that your target markets can’t resist responding to.

From mouth watering images of food, sexy models and even just pure and intense colors, there are specific things that certain market segments tend to NOT WANT TO MISS. The more appealing your labels are to your audiences, the more you can help yourself and your business in this economy with increased exposure and overall sales.

3. Add alternative uses to them – Labels can also become more than just product labels or stickers. They can also have other uses which you can go for to make them a lot more worth keeping for most people. So for example, your product label can also become a bookmark or even a decorative sticker for certain things like mobile phones. With these alternative uses, you can have useful and effective marketing labels that translate easily well to sales and profits.

4. Increase their longevity – You might also want to increase your label’s longevity by using more high quality type paper and inks. Thicker paper materials and glossy protective coatings are key to a more long lasting label. The longer these labels last in pristine condition, the more they can help you promote your business or product. That is why it is a good investment to go for long lasting materials that look better all the time.Let us face facts. The economy cannot be fixed by the government alone, and you will need to be cunning and inventive on your own if you want to succeed with your business in this economy. In this special feature I will tell you how to help your business by improving your product labels. Sometimes, you just need the right kind of cheap labels that will actually give you an affordable but powerful pull in marketing. So listen to these very important tips about printing labels and marketing in this bad economy.

1. Make them more competitive – If you want a clearer way towards your marketing goals, you will want to beat most of your competition. That is why for your labels, you will want to be more competitive with other products and labels. To do this, you will need two things.

Your label designs must have originality as well as direct target market appeal. If you integrate both these concepts into your label design and label printing, you should have done the first major step in actually dealing with your business problems, and helping it succeed amidst the troubled economy.

2. Make them more appealing to audiences – Another big thing that can help your business in this economy is for your labels to have better and more potent audience appeal. Audience appeal here comes in the form of specific content and design elements that your target markets can’t resist responding to.

From mouth watering images of food, sexy models and even just pure and intense colors, there are specific things that certain market segments tend to NOT WANT TO MISS. The more appealing your labels are to your audiences, the more you can help yourself and your business in this economy with increased exposure and overall sales.

3. Add alternative uses to them – Labels can also become more than just product labels or stickers. They can also have other uses which you can go for to make them a lot more worth keeping for most people. So for example, your product label can also become a bookmark or even a decorative sticker for certain things like mobile phones. With these alternative uses, you can have useful and effective marketing labels that translate easily well to sales and profits.

4. Increase their longevity – You might also want to increase your label’s longevity by using more high quality type paper and inks. Thicker paper materials and glossy protective coatings are key to a more long lasting label. The longer these labels last in pristine condition, the more they can help you promote your business or product. That is why it is a good investment to go for long lasting materials that look better all the time.

5. Increase their distinction/originality – Finally, for effective and profitable marketing with your labels, you should try to increase the distinction and originality of your color labels. By having distinct colors, symbols, shapes and configurations in your custom labels, you can make them look a lot more visible against all other rivals in your market. The more visible you are, the better your opportunities for sales and marketing with these cheap labels!

Great! So do not just stand there. Help your business against the economical downturn. Make sure that you improve your product labels for the best possible sales effects with them. Good luck!5. Increase their distinction/originality – Finally, for effective and profitable marketing with your labels, you should try to increase the distinction and originality of your color labels. By having distinct colors, symbols, shapes and configurations in your custom labels, you can make them look a lot more visible against all other rivals in your market. The more visible you are, the better your opportunities for sales and marketing with these cheap labels!

Great! So do not just stand there. Help your business against the economical downturn. Make sure that you improve your product labels for the best possible sales effects with them. Good luck!

Article by Ron Sandifor

The tenets of career management training have been greatly impacted and may have to be substantially revised in response to the emergence of the “New Economy” in the United States. This “New Economy”, of course, has been somewhat violently forced upon Americans by way of the United States being part of the “New World Economy”.

It seems amazing that although the signals and signs of this approaching “sea change” in the world economic order of nations have been visible to Americans for at least a decade or more, we, as a nation, appear to be quite surprised and shocked at this turn of events. One possible explanation for the surprising nature of this reality shock is the added negative impact of the world economic upheaval of 2008-2009 and the trailing recession. Together, these two events greatly enhanced the negative effect of the New Economy on working class Americans, particularly those belonging to the Great American Middle Class.

How The New Economy Impacts Career Management Training

Three primary characteristics of the new economy combine to make planning and managing an occupational career a more challenging task.

1. Uncertainty

This is arguably the most pervasive effect of this new economic age. It is now clearly apparent that entire industries that employ thousands of workers at all occupational and career levels which we thought were permanent entities, can simply vanish. What can you do if your life plan hinged on pursuing a career in an industry that simply ceases to exist? Traditional career management training does not address this phenomena.

2. Technology Advances

Many baby boomers may recall widespread speculative conversation during the 1960s and 70s about how the invention of computers would cause people to lose their jobs. The response from the “establishment” at that time was that these were irrational fears and in reality, the growth of computerization would create jobs. In retrospect, both predictions have become reality, however, the number of and variety of jobs eliminated by computers and computer associated technology far exceeds new jobs created.

3. Globalization Of Commerce And Labor

The maturation of many previously third world impoverished countries around the world during the past four decades has resulted in an ever growing source of competent, inexpensive labor to compete with the American labor force. The result of this world economy news is a serious long-term loss of jobs in the USA.

Impact Of The New Economy On Career Management Training

The following is a list of potential specific negative outcomes of the New Economy relative to career progression and career management.

General reduction in the number of people employed in your particular fieldReduction of opportunity within your field due to the exodus of companies/employeesReduction of opportunity within your company because of offshore competitionYour company and others in the same field close because they can no longer compete

Adapting Your Career Management Plan For The New Economy

In the past, pursuing an employment career involved selecting an occupation or profession that you want to work within over a long period of time during which you would consistently advance in knowledge, achievement, stature, responsibility and compensation.

Any systemic changes within your actual occupational field were normally associated with positive advancement such as the discovery of new knowledge; improved applications or methods; increased efficiencies and/or lower costs, etc.

In the new economy, this previously “normal” evolution within career fields has become distorted by the previously listed negative outcomes. The same is true for your personal orderly career progression as you originally envisioned.There have always been reasons or unusual circumstances that could arise and necessitate that an individual pursuing a career in their chosen field would have to suddenly and unexpectedly change careers. Now, however, the tremendous uncertainty wrought by the new economic realities make forced career changes more likely than ever before. How can you plan for an experience like this in a way that allows you to maintain a feeling of comfort and still being in control of your life? Career management training must be updated to teach how you can expand the parameters of your career plan to accommodate the new realities. If you are just starting out in a career, make sure that they are addressed in your original career plan.

Start Broadening Your Vision

Beginning now, start envisioning yourself in alternate careers that might appeal to you. Do this even though there are no imminent problems in your current career.

Seek and identify other industries, careers, occupations, etc., that require similar knowledge, skills, education and behavioral competencies as your present career. As you uncover potential alternate career paths, join an association or some other type of network of workers in those fields. Lastly, find recruiters serving those alternative fields and establish relationships.

If you have been working in your field at least 2-3 years and perhaps have even begun moving up the ladder, assess your proven skills and core competencies at this point. Consider them from your own viewpoint as well as assessments on your annual performance reviews. Additionally, you may utilize “career assessment” and “career interest” testing available online at sites such as LiveCareer.com. This feedback will be of value to you for your initial career planning as well as career tracking and management in later years.

Updating traditional career management training to recognize and address these new challenges to pursuing a successful employment career can lessen the workplace stress related to the new economy.