The Job Market Is Facing A Major Turning Point
Published: 2023-09-20
Status:
Available
|
Analyzed
Published: 2023-09-20
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Higher interest rates are expected to persist in the near future as the Federal Reserve continues to combat rising inflation.
"and now it doesn't look like the higher interest rates are going away anytime soon because while the Federal Reserve Bank has been working to raise interest rates to cool down inflation and over the last few months we have not been seeing inflation fall in fact we have been seeing inflation rise and accelerate faster"
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Over the next 12 months, expect some economic hardship due to significant money printing in 2020-2022 and the fastest growth in interest rates in over four decades.
"but High inflation also has consequences and so now when you kind of forecast what's going to be coming over the next 12 months you have to project that there's going to be some sort of economic pain because we have seen the most amount of money printing ever between 2020 and 2022 now we're seeing the fastest growth in interest rates in more than four decades"
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A significant shift in the economy is currently underway.
"now what I want you to understand is this shift is happening we are seeing a shift in the economy period"
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The Federal Reserve will continue to actively combat inflation, which is currently high and impacting the economy.
"the Federal Reserve Bank is going to be continuing to fight inflation that has more impacts on the economy at a time where inflation is still hot"
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Employees should focus on protecting their income and using their money smartly, as most Americans are not currently doing so.
"so what you need to understand now as an employee is number one how do you protect your income number two how do you use your money smartly because the reality is most Americans the vast majority of Americans are not using their money smartly"
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Financial education is crucial for protecting and growing real wealth.
"and number three is how do you protect and grow real wealth this is what Financial education is all about"
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Wealthy individuals prioritize investing their money to generate income that covers their lifestyle expenses.
"wealthy people want more money that way they can buy more Investments because then these investments will pay for their lifestyle"
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Employers nationwide will require increased productivity and creativity from their employees.
"pretty much every employer across the country is going to need more productive work a lot of employees and most employers need their employees to be more creative"
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Startups and growth-oriented companies will likely require employees to be in-office to foster collaboration and innovation.
"now it depends on the company some companies can run just fine remotely some companies need more creative juice if you're working for a startup if you're working for more of an edgy growth type company yeah people need to be together because that's how you collaborate that's how you come up with that is that's how you can work together long hours and come up with better things to do"
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Employers are making strategic decisions based on the current and projected economic conditions over the next 1-2 years to mitigate potential negative impacts.
"because now employers are looking at where the economy is today and where the economy is going to be in 12 and 24 months and now they're trying to protect themselves and grow themselves that way they're not in a position of potential pain if the economy continues to slow"
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2023 is a time for financial prudence and education, advising against large new purchases like trucks.
"number one 2023 is not the year for you to go out and finance a new truck I've been saying this a lot now but the reason why is because this is the time for you to get financially smart and financially educated"
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Higher interest rates are expected to persist in the near future as inflation continues to rise, not fall.
"and now it doesn't look like the higher interest rates are going away anytime soon because while the Federal Reserve Bank has been working to raise interest rates to cool down inflation and over the last few months we have not been seeing inflation fall in fact we have been seeing inflation rise and accelerate faster"
Pending
Economic pain is projected to occur within the next 12 months due to the combined effects of high inflation and rising interest rates.
"but High inflation also has consequences and so now when you kind of forecast what's going to be coming over the next 12 months you have to project that there's going to be some sort of economic pain"
Pending
The job market is undergoing a shift where employers demand higher productivity and efficiency, while employees feel they are underpaid for their work.
"we are seeing a big shift in the job market right now where employers are needing more work more productivity and more efficiency out of their employees and employees feel like they're being overworked and underpaid"
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The power balance in the job market is shifting away from employees, who previously had an upper hand in negotiating for remote work, raises, and benefits.
"for the last few years employees had had a major upper hand where you could say you know what I don't want to come into the office I want to work from home I want a bigger raise I want bigger benefits and for the most part employees have been able to get these benefits where you could get better pay you can get better perks and get better rewards for working at a particular company now we're starting to see this slowly switch"
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Many companies are now mandating employees return to the office, with some issuing ultimatums.
"now of course Frontier Airlines is not the only company that has been asking employees to come back into the office we have a number of companies around the country that have been saying essentially you better come back into the office or just don't come back to the company at all because now companies many companies at least are forcing their employees to return back to the office"
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There are indications of an economic slowdown, with companies experiencing slower sales and reduced growth.
"we're seeing that change in the economy we're seeing some companies see slower sales we're seeing some slowdown in growth"
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The Federal Reserve's decision to raise interest rates starting in March 2022 has begun to withdraw the 'free money' that entered the economy in 2020-2022.
"because all the free money that we have been seeing enter our economy in 2020 2021 and 2022 is now going away in March of 2022 the Federal Reserve Bank started using interest rates what did they do they made money a little bit more expensive and that started to pull all this free money out of the economy"
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Employers are strategizing for the next 12-24 months, anticipating potential economic slowdown and aiming to protect and grow their businesses to avoid negative impacts.
"because now employers are looking at where the economy is today and where the economy is going to be in 12 and 24 months and now they're trying to protect themselves and grow themselves that way they're not in a position of potential pain if the economy continues to slow"
Pending
Employers nationwide will require increased productivity and creativity from their employees.
"pretty much every employer across the country is going to need more productive work a lot of employees and most employers need their employees to be more creative"
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For startups and growth-oriented companies, in-person collaboration is seen as crucial for creativity and developing new ideas.
"if you're working for a startup if you're working for more of an edgy growth type company yeah people need to be together because that's how you collaborate that's how you come up with that is that's how you can work together long hours and come up with better things to do"
Pending