What If the Economy Does Not Recover?
Wednesday, November 18th, 2009The last thing I want to do is paint a picture of doom and gloom.
But what if the concept of economic recovery is mere hype - a wisp of hope destined to vaporize, leaving most people worse off than ever?
Thankfully, according to the leading economic minds of our times, this pessimistic scenario is one that is likely never to happen.
Earlier this year, Robert Mellman and Bruce Kasman, senior economists at JPMorgan, predicted that the U.S. economy would come out of the recession in the second half of 2009.
But Mellman also stated in a March 2009 USA Today article: “For the person on the street, it will still feel like a recession . . . I don’t think it will be a joyful recovery. It will be pretty slow from here. It will be tough to get jobs for some time.”
Mellman’s words now ring true as the snail’s pace of recovery particularly tests the metal of those who are among the 10.2% unemployed.
Still, it is important to be encouraged during the painful recovery process by remembering a few facts:
- Historically, economic recovery is inevitable in the U.S. The economy moves through cycles of ‘drought and plenty’ that replay, somewhat unpredictably, throughout the years.
- Economic recovery is in motion now, fueled by government stimulus monies. But the fruit of recovery will not trickle down to everyone at the same time. Various sectors — i.e. housing, stock market, employment — will improve out of sync with one another.
- The recovery of the job market, which will boost consumer spending, is among the last of the leading economic indicators to improve. Yet those who prepare for the influx of new jobs by returning to school to update skills and credentials will benefit faster than most.
One way to increase the odds of snagging a job is to take advantage of online degree programs, online certificate programs and vocational classes. Unfortunately, waiting until the economy improves before taking such a positive career step may delay job opportunities, especially for those who compete for higher-paying technical and skilled jobs.
Economic recovery is moving; and it’s headed your way. Just make sure you are ready for it.
online degree programs, certificate, vocational, economic recovery, jobs, careers, skilled jobs, recession, jpmorgan, unemployment, snag a job, hope
Popularity: 1% [?]
Posted by vida
