The Job Market Will Never Be The Same
Published: 2024-03-29
Status:
Available
|
Analyzed
Published: 2024-03-29
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The US job market, which has been cooling since 2022, is predicted to continue cooling through 2024.
"the job market in the United States has been Cooling cooling between 2022 and 2024 steadily and it will continue to cool through 2024"
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Food chains like Chipotle and Sweet Greens are starting to use robots for food preparation.
"food chains like Chipotle and sweet greens are turning to robots to start making your food"
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Digital brands are beginning to replace human employees with AI workers.
"digital brands that are replacing their human employees with artificial intelligence workers"
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The US is currently experiencing one of the lowest unemployment rates in modern history.
"we're still seeing some of the lowest unemployment in the history of modern-day America"
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There are 0.7 unemployed individuals for every available job opening.
"there are 0.7 unemployed people per job opening"
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Many experts believe the job market will not remain as strong as it is currently in the future.
"a lot of people are saying that the job market is not going to be as strong as it is today in the future"
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Businesses are increasing their focus on employee productivity and efficiency.
"businesses are now pushing for more productivity they're pushing for more efficiency from their employees"
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Companies are developing new programs aimed at enhancing individual employee productivity.
"some companies are creating new programs to make each employee more productive"
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Certain companies are implementing layoffs to streamline operations and remove less productive employees.
"some companies have been doing layoffs to remove some of the fat out of their company"
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Return-to-office mandates are being implemented by some companies with the belief that it will boost employee productivity.
"some companies now that are pushing this return to office mandate because they believe that that's going to be more productive for their employees"
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Companies are exploring automation via robots as a strategy to control costs.
"we're going to look to Outsource this not to Mexico but through robots as a way to control our costs"
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Robots offer a cost advantage over human employees, as they eliminate expenses like health insurance, payroll, and inflationary salary increases, with only maintenance costs involved.
"when you have a robot you don't have to pay for health insurance you don't have to pay for the payroll salaries you don't have to pay for the higher inflationary salaries through a robot you just pay to maintain the robot and now you can reduce and control your costs much better than if you have a person"
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Five Guys has increased prices by approximately 40% in recent years, leading to higher costs for customers.
"Five Guys has been making the news all over the place because of how much it costs to get a burger and fries and a drink there because they have increased the prices by something around 40% in just the last few years"
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The current business focus has shifted from growth to efficiency and productivity.
"today is the opposite today is more on efficiency and productivity"
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Certain industries, such as real estate, tech, and banking, are experiencing more significant changes and potential job market vulnerabilities compared to others.
"some Industries are a lot tighter than others for example we've been seeing the realtor industry struggle quite a bit we've been seeing a lot of layoffs in the tech sector we've been seeing a lot of changes in the banking sector"
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Individuals are more likely to perform at their best when they are engaged in work they care about and are passionate about the mission.
"it's a lot easier for you to put in that 110% when you're doing something that you care about when you're passionate about the mission that you're trying to do"
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If a current role lacks fulfillment, individuals should consider pursuing certificates or making career changes.
"if you can't see that in your current role that maybe consider getting a certificate getting some sort of change in your career"
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Building savings is crucial for protection against emergencies such as company bankruptcy, layoffs, or termination.
"start building your savings if you don't have one already savings should be there to protect you against an emergency in case your employer your boss runs your company into the ground and they go bankrupt you want to have some savings to protect you against that maybe you get laid off or fired"
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Achieving financial freedom is possible by investing money to the extent that assets can cover basic living expenses.
"the only way that you can do that is by investing your money when you invest your money to the point where you have assets that can fund your basic expenses well now you are financially free"
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Achieving financial freedom is a long-term goal, typically taking years, and in many cases, decades.
"this is not something that's easy it's not something that's going to happen in two months or two years this is going to happen over years in many cases decades"
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Increasing the aggressiveness of investments and the amount of money allocated to them will accelerate the path to financial freedom.
"the more aggressive you get on this the more money you put towards your Investments the faster you will get there"
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To achieve financial independence and avoid reliance on a paycheck, invest money in assets that generate income to cover living expenses.
"you want to work to put your money into Investments that will pay you that way you can use Investments to live off of that way you don't need the paycheck from your job to live off of"
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A decade of dedicated sacrifice in financial planning can lead to a lifetime of financial freedom.
"it's why I call it a decade of sacrifice but if you're willing to put in that decade of sacrifice you will have a lifetime of Freedom ahead of you"
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