Yesterday I mentioned disturbing news (for many), that not only is the US unemployment rate continuing to rise but many fear that “consumers, worried about job losses and stagnant wages, will restrain spending.” (Link to The Associated Press)
The article’s next line underscores the size of one challenge (re jobs) that North Americans face at the moment.
I’ve altered it by leaving the percentage blank - to let you guess at the figure.
“Consumer spending accounts for about ___ % of the US economy.”
Would you say 30%? 40? 50? 60? 70? 80?
The answer is 70%. I wouldn’t have guessed correctly.
And when I link that number with what I’d read about and commented on several days earlier, about how many Americans are planning to reduce spending, save money and reduce debt on a permanent basis, I realize how big a shift our continent is going through at this time.
If we’re moving away from excessive amounts of material goods (and debt related to easy credit) what will the next generation of jobs look like?
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Will we see them come online before unemployment numbers (in the US, the highest since 1983) rise even higher?
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