2014 OVERALL ECONOMIC EMPLOYMENT FORECAST:
"READY, SET, ...SHIFT!"
by Kathy Graham
- Good (though not yet great) economic and employment times, combined with major structural changes.
- Structural Shift #1: The supply chain has shortened, because the U.S. has become one of the cheapest countries to manufacture goods in the developed world.
- Structural Shift #2: The work force composition has changed, with the unemployment gap between younger and older workers continuing far wider than before.
- Structural Shift #3: The source of energy has changed. The U.S. is now an energy exporter.
- Structural Shift #4: Communication has changed. It is now more online. It is less mass communication and more like a conversation between two parties.
- Structural Shift #5: The U.S. consumption habit pattern has changed. Consumers are reining in spending and are lowering debt.