The Effects of UnemploymentJohn Parks
March 24, 2009 — 3,410 views
The US market for instance is a highly unstable market in today's times. In fact, our current market trend is quite low. Although it is possible that we have higher economic growth compared to any other country and during our peak negative cycle, there is no doubt about it- we are in a recession right now. Millions of Americans are suffering such problems like job cuts, decreases in stock withholds and more. Although this is quite detrimental, this is actually a very common phenomena and occurs naturally in any global business setup and will regain its stability within a short span of time. In this article, we will evaluate the effect of unemployment on commerce and business so that we have a better understanding of these matters.
Our recent recession has globally affected unemployment and will continue to do so at astronomical rates. Many economists predict that the effect of unemployment has changed the inflation rate and the price of the commodities and has led to a very unstable market. once the job cuts in business and commerce took place the manufacturing of raw materials which needed to perform a certain output level gets decreased. Many companies have been forced to undergo such hardships like maintaining the global value of its companies. This has caused a tremendous effect on unemployment, commerce and business too.
One might wonder then, how can we fix this problem? Well, here are a few suggestions that can inevitably help. First, we must convert the unemployment crisis into opportunities. For instance, if one finds themselves unemployed and unable to find work in their past industry, they should seek new opportunities or go into business for themselves. By doing this, more people can explore new areas and find other interesting careers that suit them. Second, we must have an evaluation plan of the companies global set up for the last 30 years. By doing this, we can carefully evaluate the key areas such as productivity, quality, workforce, marketing , customer feed-backs and then make significant improvements to the framework of the failing company/ industry Third, we must not be heartbroken about the recession and instead use it to our advantage. For instance, now is the time to invest in the market, buy foreclosed homes, etc. By doing this, you will be able to rebound when unemployment decreases and commerce and business profits increase.
Take Google for instance - they are a company to be followed and patterned after. Although they are consistently turnover employees, they have boasted that their profits are high as ever. This is because companies like Google, learn from their bouts of unemployment and are constantly figuring out ways to increase commerce and business. They are the leaders in innovation and not afraid to start and exploring new ideas.
Therefore, the question for you is this, will you be like Google and excel even in times of recession or will you be like the naysayer, who simply proclaim, "Whoa me. We are in a recession. Commerce and business are failing and the world is ending." Or will you use this experience to grow and build your business and financial security? The choice is ultimately yours - now get to it!
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