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Today, The Entrepreneur’s Source reviews the current job market and its recovery and how it is causing more and more unsatisfied employees to turn to alternative career options like franchising and business ownership. Since the recession hit in 2008, the job market has been a scary place. Today, almost seven years after the recession first struck the nation, the economy and job market is showing signs of recovery. Consumer spending is on the rise and the unemployment rate has slowly continued to decline, but this doesn’t mean that the end is near yet.
The Entrepreneur’s Source Reviews the Job Market
Although the economy and job market is slowly recovering, a recent report from the Economic Policy Institute (EPI) found that we are still years away from a full recovery in the job market. The American job market isn’t predicted to make a full recover until August of 2017, and that’s only if the economy continues to recover at the same rate that is has over the past year – adding about 246,000 jobs a month.
“Each year, the population keeps growing, and along with it, the number of people who could be working,” said Elise Gould, a senior economist at EPI. “To get back to the same labor market we had before the recession, we need to not only make up the jobs we lost, but gain enough jobs to account for this growth.”
If the job market does continue to recover, corporate employees are still plagued minimal wage increases as the prices of products, goods and services continue to rise. With layoffs, rightsizing and downsizing becoming the new norm and jobs being lost due to cheaper labor in other countries or new technologies, employee loyalty is at a dangerous place.
“Outsourcing is a way of life,” said founder of The Entrepreneur’s Source Terry Powell. “The border less aspect of a digital revolution makes outsourcing jobs easier and impacts our economy. These are just things we need to adapt to and live with.”
The Entrepreneur’s Source Terry Powell on The New Normal
Although we’d all love to put our faith back into the job market, for many it’s just too soon to do so and many of these wary ex-corporate American employees are turning to alternative career paths. In today’s New Career Economy, job security is long gone, and because of this, an individual’s typical career path has dramatically changed. You have a choice, you can either fight it or embrace it. The Entrepreneur’s Source views this career change as The New Normal, with many individuals choosing to explore alternative career and new business opportunities outside of working in corporate America.
“More people are realizing that it is time to take control of their destinies,” The Entrepreneur’s Source Terry Powell said. “Being the laborer or the worker bee and giving their souls to their careers for corporate America is no longer the typical choice of most pragmatic people.”
This change in the economy has caused many individuals to take their career into their own hands by becoming self-sufficient. When an individual decides to take control of his or her career, this is the first step of your journey to self-sufficiency.
There are many vehicles to success when it comes to self-sufficiency, so those striving to take control of their career should identify their unique Income, Lifestyle, Wealth and Equity™ (I.L.W.E.™) Goals to better identify what alternative career path may be the best fit for them.
Work with an Alternative Career Coach!
You don’t have to go through this journey alone. Bringing on an alternative career coach at this stage in the process could be a beneficial move to help you better identify your I.L.W.E.™Goals and what Possibilities, Options and Dreams you envision for your future. For more information on how an alternative career coach can help you begin your journey to career autonomy, contact an alternative career coach at The Entrepreneur’s Source franchise today.