Labour Market & Preparedness

Inside My Canoehead

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Whether you work at the unskilled level near minimum wage, are within the gig economy on endless contracts, or you are skilled an demanding remote work, you are in a position to have negative impacts on your income in the coming year. Whether or note a formal recession is declared, there will be some significant imbalances in the workplace, choices that impact your income and that requires a plan. A preparedness plan for "when you get fired". Not that you expect to, or worry about - but that you understand circumstances beyond you control lead to an immediate and unforeseen loss of your principal income. The challenge is knowing what to do, and one of those is understanding the labour market and the current influences within your sector of work. This is not an option, to be successful, you must learn how to interpret the indicators in the labour market.
The economy often emits mixed signals, information points to a trend, but outcomes mirror something different. At times, significant changes are sectorial and not occurring in the wider system. For all but the most astute followers, it seems to be a bit of a confusing set of unrelated events. What is clear though, is that some turns in the economic system do impact you, they are potentially harmful and need to be understood.

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