Economic growth mode is here and it’s time to invest!
It’s no secret that this has been one of the worst economic times in this country’s history and unemployment rates have risen to a scary peak. But we have good news; it’s bouncing back. Slowly but surely the United States economy is on the rise and with that comes more jobs and most importantly; more investment.
Companies are flying into growth mode. “After losing roughly 100,000 jobs in two years, Maryland gained jobs in March for the first time in months. Increased job listings in areas such as sales and customer service signal a shift in companies’ focus from cost cutting to growth. And some employer surveys show a brighter outlook in which more companies intend to hire than lay workers off,” according to the Baltimore Sun.
People are feeling better about their businesses, better about their financial situations and simply more optimistic than recently reported in the pitfalls of the last two years. “Andy Bauer, a regional economist in the Baltimore branch of the Federal Reserve Bank of Richmond, said he expects the labor market to gradually improve as the economy continues to strengthen, with some sectors such as information technology and health care outpacing others,” said the Baltimore Sun.
Multiple industries’ employment are increasing such as the manufacturing, labor, temporary help and health care, according to establishment survey data taken by the Bureau of Labor Statistics for May of 2010. The unemployment rate edged down from 10.2 percent in 2009 to 9.7 percent for the majority of 2010 thus far, which shows that companies are hiring and businesses are starting to thrive again.
Reported from the Baltimore Sun, “Companies are focusing more on growth strategies,” said Jennifer Grasz, a CareerBuilder spokeswoman. “You see companies focusing on sales, marketing and information technology. You’re starting to see them ramping up those components to be ready for when the economy turns around.”
This means that now is the time to rev up your business and invest. The economic growth that is about to take place will be monumental and downright unfortunate for you to not to be a part of. Go out and let your customers know that your business is back and better than ever. Let them know it is safe to invest and will only benefit them to the fullest as you begin to increase hiring, personal investment and overall business growth.
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