REinvent YOURSELF (or FAIL) IN THE NEW ECONOMY!
THE ECONOMY is slowing… with a HIGH likelihood of a recession AND stubborn inflation (your money buys less today than it did a few months ago) – STAGFLATION.
Hiring is slowing… companies are rescinding job offers, freezing hiring, and cutting jobs… even TESLA!
The stock market’s down 14% in 2022, Bitcoin’s at $23k, the personal savings of Americans dropped 15% to $62,086 in 2022 (Northwestern Mutual’s 2022 Planning & Progress Study), retirement accounts like 401(k) are also down… many people who were feeling rich are now feeling…?
Consumer spending is picking back up (70% of US economy). Many Americans are spending money they don’t have, or can’t afford – credit card debt is at $841 billion (LendingTree.com) – many living on credit (including “Buy Now Pay Later”). The average credit card debt of Americans in 2022 is $5221 and climbing (fool.com). As of May 2022, 58% of Americans were living paycheck-to-paycheck (Lending Club – May 2022 data), including 30% of those earning $250,000 or more!
Decreasing income, increasing spending, lesser savings… PEOPLE ARE GETTING FINANCIALLY SQUEEZED – will rush into the job market – full-time and part-time.
MANY JOBS ARE MOVING OVERSEAS (QUIETLY)
The pandemic accelerated the DIGITIZATION OF WORK (that’s what made remote work possible). If you can work for a NYC employer from Asheville, NC, so too can a guy/gal in Manila, Bangalore or Bali… FOR A WHOLE LOT LESS. After all, the job can be done REMOTELY – WE’VE PROVEN IT DURING THE PANDEMIC!
With the USD strengthening against major currencies, why would a US employer pay you $100k when somebody in Mumbai or Costa Rica will work for a whole lot less?
COMPETITION FOR U.S. JOBS
The Great Resignation means many people are not working.
Once their money runs out… they will NEED to look for jobs.
There will be fewer jobs… and many old jobs won’t return.
Many open jobs lack qualified people.
If you apply without repositioning (look at your resume) or learning new tricks, you’ll face FIERCE COMPETITION for the few(er) job openings – just plain logic!
If you don’t REinvent yourself… the OLD YOU may not be able to easily find NEW JOBS with higher compensation (10% inflation is the highest since the 80s). Or, simply ‘extending’ your resume into the new job market may not get you interviews.
MONEY magazine named me “THE COMEBACK KID” because I’ve REinvented myself several times. I have a proven process and unique assessments that’ll help you REinvent yourself, and position you for SUCCESS in the New (slow) economy.
You can learn more about the iREinvented Masterclass at https://www.ismartandsuccessful.com//programs/masterclasses/ireinvented-master-class/
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#ram #iyer #ramiyer #mitramiyer