Feb. 27, 2010

Long-Term Joblessness “Off the Charts”

Hitting Middle Class Particularly Hard; Millions of Such Jobs Gone Forever, Reports John Blackstone

via Long-Term Joblessness “Off the Charts” – The Early Show – CBS News.

You should read this article.  But, if you miss it, don’t worry.  These stories are becoming everyday occurrences.  There are two points from the article that I’d like to highlight:

  1. In the last 10 years, according to Lakshman Achuthan, managing director of the Economic Cycle Research Institute, “… 8 million jobs have gone and there (sic) not coming back, ever,”

  2. A former restaurant owner is starting a catering business. “Many more may have to follow [her] lead and find something they can do themselves – even though launching her catering business has been daunting, especially since she’s doing it on her own. ‘It’s just really frightening.’”


Our economic landscape has changed and, though I’m tempted to say forever, I’ll avoid the hyperbole and simply suggest to you the following:

If you plan to wait around for “big business” to offer you a decent job, you’re in for a long wait.  If you plan on an employer (business or government) looking out for your long-term interests, you’re in for a disappointment.  My advice is to start your own business and understand that you’re financial success is up to you.  Sure, some people are going to get the inside track and may get a piece of the ever-diminishing pie – but for the average guy, you are on your own, my friend.

I’m not trying to sound “doom and gloom” – but I’m absolutely convinced that the key to success is in your own hand and it will require initiative, and hard work, and probably long hours.  Of course, there was a time when everyone understood that to be the case.  Well, those times are back.