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Jobless in America: Is Double-Digit Unemployment Here to Stay?
By Stewart Gandolf | October 15, 2009
Today's unemployed
I recommend you check out this recent Time Magazine article, “Jobless in America: Is Double-Digit Unemployment Here to Stay?” Lots of good info. Fundamentally, our economy is changing. According to John Mauldin, real unemployment (taking into account people who have given up or are working temporary/part time jobs) is at 18% in the US – and rising.
Many baby boomers are now past their peak earning and spending years and are beginning to retire – or at least they do so if they can. They are also paying down debt which a good thing, but that means the artificial spending of years past is gone.
With baby boomers retreating from the consumer market, who is going to buy those 4,000 square feet houses and shiny new cars?
Your marketing is going to have to adjust to the new realities, irrespective of what the stock market does and pundits say.
For me… while I would like to think our recession is over, you won’t see me betting on that. Instead, I am planning for the long haul both personally and when consulting for clients.
What are you doing today that takes into account these new realities?
As we’ve discussed before, retreating isn’t the answer. Marketing smarter and more efficiently is.
More on these topics in posts to come.
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