A Bright Future Awaits Us
So the new growth industry, according to the Times, is job placement. Which industry provides counseling, help in resume preparation, job search tips and general moral support to the unemployed.
And it is a particularly good industry to be in these times because the pool of potential customers is expanding. It can only get better as spells of unemployment get longer because this will create a large group of people who have extensive experience resume preparation and job search. These people can become the job search counselors for the next wave of the unemployed.
Wonks Anonymous sees a new economy based on job fairs and resume services.
And it is a particularly good industry to be in these times because the pool of potential customers is expanding. It can only get better as spells of unemployment get longer because this will create a large group of people who have extensive experience resume preparation and job search. These people can become the job search counselors for the next wave of the unemployed.
Wonks Anonymous sees a new economy based on job fairs and resume services.
Who exactly will be paying these onrushing hordes of job placers? The unemployed people with no money or the companies with no revenue and no interest in hiring?
One thing is possible, the companies that are currently able to make it might have a better time finding quality for their money than they did during the bubble. Even if they can't add employees, maybe they could swap out an old model for a newer, cheaper, more efficient one that is newly on the market.
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Perhaps, out of necessity, these hordes of unemployed will start their own businesses, and reignite the growth that the US experienced in the 50's, 80's, and late 90's.
This will depend on two factors - the skills and abilities of the entrepreneurs and the willingness of banks to make small business loans.
What about small e-tailers? Independent research firms? Small business or trade schools? Software consultants? Freelancers? Skilled craftsmen, repair shops, etc?
I don't think that job counselors (who, like debt counselors or nutritionists, traffic in what most would consider common sense) will be the next big growth industry.
That niche is already pretty well filled (for better or for worse)by headhunters and HR departments.
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