BY: Adam Gavriel
According to a report posted over at Bloomberg.com by writer Shobhana Chandra, consumer spending in the United States has decreased, causing overall growth of the economy to decrease as well. Chandra reports that household purchases, which account for 70% of the country’s GDP, grew at the slowest pace in a year. Chandra reports that the Federal Reserve policy makers will meet this week in order to examine further options in reducing the unemployment rate which continues to remain above 8% and is tied heavily to consumer confidence.
With many Americans living paycheck to paycheck, and far too many not even making a paycheck, consumers are beginning to tighten their belts and close their wallets on purchases that they would have normally made. Even companies that provide necessary daily goods like Proctor and Gamble have felt the wrath of the stagnant worldwide economy. Proctor and Gamble cut their profit forecasts three times already this year. Consumer confidence dropped in July to the lowest level of 2012 and retail sales fell for the third consecutive month in June, the longest period of decline since June 2008.
The economic frustration felt by Americans weighs even heavier this year with a looming presidential election on the horizon where the two candidates could not possibly have a more different view in terms of their economic policies. There are future potential tax increases that the average American worker could see in the future that are causing consumers to hold back on spending and playing a “wait-it-out” game with the American electorate.
Many analysts believe consumer spending will continue to slow down and consumers will remain cautious until hiring and job creation accelerates.
This is why it is imperative, if you are one of the 8.2% of Americans who remain unemployed in one of the toughest economic times since the Great Depression, that you are doing everything in your power to make yourself one of the 91.8%. It’s no secret, and certainly understandable that the more competition there is looking for jobs, the more that hiring managers can afford to be picky in the hiring process. In fact, many Americans who are employed are also looking for work outside of their current profession, making it even harder on the unemployed and under-employed to find a shot at being one of a “few” candidates that apply for a position.
While some may look at their unemployment time as a vacation it’s not. Just because you’re not waking up at 7am every day to go to your 9-5 job doesn’t mean you can sleep in until noon, and then start your day. Make sure you’re staying up to date on your industries news so that when you do get an interview, even if you haven’t been employed recently you still know what is happening and can impress the interviewer that way. If you know that employers are looking for certain skill-sets that you may not have at this moment, go out and try to learn them. If you’re a creative person who doesn’t know how to use Photoshop, learn Photoshop. If you’re in a client relations area, try learning another language as that will for certain set you apart from the competition.
There are plenty of important factors that go into your potential successes of being hired, maybe none of which are more important than your resume. At Crossroads Consulting, we offer a resume service to make sure that your resume most efficiently displays your credentials to employers. We are also providing benefits to Military veterans by offering this service at a price of just $17.76 which is over an 80% discount on the full services price. We also have current job openings across the nation that we are looking to hire for, and we want to hear from you.
We know the economy is tough and is only proven day by day when new numbers like consumer spending come out. At Crossroads Consulting we are dedicated to helping you find the position you’re looking for by putting the “human” back into “human resources.”