Your purpose. It’s time to detach from the idea that it’s too much of a floaty concept and that it will magically show up, because, every moment waited is a moment wasted, and each wasted moment degrades your clarity of purpose. It is why you must find your purpose in life. Not in a few […]
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The post Why You Have To Find Your Purpose Now appeared first on Addicted 2 Success.
If you want your furniture to last for years, it’s important to take care of it properly. By following the tips outlined in the points below, you can keep your furniture looking brand new for years to come!
The post Tips to Keep Your Furniture Looking Brand New for Years appeared first on Enterprise Podcast Network – EPN.
Production lines are the backbone of any manufacturing business. If you want to increase efficiency and output, you need to ensure your production line is running smoothly.
The post 5 Solid Ways To Create A Better Production Line appeared first on Enterprise Podcast Network – EPN.
“One must face the despicable vanity which is at the root of all this niggling and haggling.”
Perhaps, like me, you’re a very creative person. A dreamer. An idealist. And you have big goals and dreams you’d like to achieve. If that’s the case, I’m about to share information that will be very beneficial to you. If you’re an aspiring entrepreneur, this information is vital—I know so from experience. The Dreaded Question […]
The post Why It Can Be Harder for Creatives to Achieve Their Goals first appeared on Addicted 2 Success.
The post Why It Can Be Harder for Creatives to Achieve Their Goals appeared first on Addicted 2 Success.
Turbulent times may be ahead for Hispanic workers, a new report from Wells Fargo found.
The firm expects Latino workers to take an outsized hit if a mild recession happens in 2023, like it is projecting.
“The Hispanic unemployment rate tends to rise disproportionately higher than the national average during economic downturns,” Wells Fargo chief economist Jay Bryson wrote.
For example, from 2006 to 2010, the Hispanic unemployment rate rose about 8 percentage points, while the non-Hispanic jobless rate climbed about 3 percentage points, the firm found. It also was higher than the non-Hispanic jobless rates in the early 1990s and in 2020, Bryson noted.
Lea este artículo en español aquí.
Job composition and age are to blame, the data indicates.
In construction, for instance, Hispanics account for one-third of workers, compared to 18% of total household employment. That interest rate sensitive sector will face “acute challenges in the year ahead,” Bryson said. Mortgage rates have jumped to over 6% and building permits have already fallen by more than 10% since the end of last year, he pointed out.
There will also be a steeper drop in goods spending over the next year as a consequence of the pent-up demand for services, he said. Right now, overall consumer spending is 14% higher than February 2020 and real services spending is up less than 1% during the same time period.
“The rotation in spending is likely to lead to sharper job cuts in goods-related industries beyond construction, including transportation and warehousing, retail and wholesale trade, and manufacturing — all industries in which Hispanics represent a disproportionate share of the workforce,” Bryson said.
However, job concentration in the leisure and hospitality sector, which was hit hard during the pandemic, may offset some of those losses.
Not only will consumers prioritize spending on missed vacations or eating out in the coming year, but employment in the industry is still about 7% below its pre-Covid levels, Bryson wrote.
The age factor also works against Hispanics, because workers tend to be younger than non-Hispanics.
“Junior workers tend to be laid off at a higher rate than workers with more seniority,” Bryson said. “Fewer years of experience makes it harder to find new employment in a weak jobs market.”
However, Bryson said he doesn’t expect the next downturn to be as damaging to the job market as the previous two recessions.
“Employers have spent the better part of the past five years struggling to find workers,” he said. “We anticipate employers will hold on more tightly to workers than during past recessions, having a better appreciation of how difficult it may be to hire them back.”
— CNBC’s Michael Bloom contributed reporting.
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People are opinionated, so it isn’t surprising that polls are such a hit among the masses. From professional platforms like LinkedIn to social media platforms like Instagram and YouTube, polls have taken over. When you are stuck in limbo trying to find ways to boost your YouTube engagement, leveraging community posts, likes, views and comments […]
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Discover why many successful entrepreneurs are also outstanding poker players by comparing the similarities & differences between the two professions.
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The below-mentioned will explore some of the most compelling use cases where bitcoin technology can help businesses find new, more efficient ways to transact with employees, customers, and suppliers.
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The U.S. economy is teetering on the brink of a serious downturn if the Federal Reserve doesn’t pump the brakes on its rate hikes, billionaire CEO Barry Sternlicht said.
The central bank has already raised interest rates four times this year and is widely expected to hike them by 75 basis points next week in an effort to tame inflation. Earlier this week, consumer prices rose 0.1% instead of the 0.1% decline economists surveyed by Dow Jones were expecting.
However, Sternlicht believes the Fed was late to the game and is now being too aggressive.
“The economy is braking hard,” the chairman and CEO of Starwood Capital Group told CNBC’s “Squawk Box” on Thursday.
“If the Fed keeps this up they are going to have a serious recession and people will lose their jobs,” he added.
Consumer confidence is terrible and CEO confidence is “miserable,” Sternlicht said. Supply chain issues are being resolved, and inventories are now backing up in warehouses, which will lead to huge discounting, he said.
“The CPI, the data they are looking at is old data. All they have to do is call Doug McMillon at Walmart, call any of the real estate fellas and ask what is happening to our apartment rents,” he said, pointing out that the rate of rent growth is now slowing.
The continuation of rate hikes will also cause a “major crash” in the housing market, Sternlicht predicted. The once-hot real estate market is swiftly slowing down, with mortgage rates for a 30-year fixed loan over 6% — up from 3.29% at the start of the year, according to Mortgage News Daily.
While the Fed’s target is 2%, inflation should run at 3% to 4%, Sternlicht said.
“Inflation that is driven by wage growth is fabulous. We should want wages to go up,” he said.
“You can pay higher rents, you can buy your equipment, you can go to the restaurant if you have high wage growth.”
As for when the “serious recession” will hit, Sternlicht believes it is imminent.
“I think [in the] fourth quarter. I think right now,” he said. “You are going to see cracks everywhere.”
Correction: Doug McMillon is CEO of Walmart. An earlier version misspelled his name.
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