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Guest Post: Four Cures for The Great Recession and Its Eight-Year Hangover

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March 1, 2017

Leadership message created/adopted by Craig Clemons with Express Employment Professionals.

My Advice for the New Administration

The election may not have gone your way. I must admit, I’m cautiously optimistic about the impact of the new administration. There is one thing I know for sure: the president has a lot of work to do to get this economy moving.

While unemployment has been cut in half since the Great Recession and the stock market is much stronger, a majority of Americans remain dissatisfied with the direction of the country. Economic anxieties were a significant issue in the presidential election. This anxiety is not unique to the U.S., however. Our friends in Canada are experiencing much of the same.

Something’s wrong. But what is it?

The source of anxiety among Americans regarding the economy is hard to pinpoint. For decades, the unemployment rate has been the go-to metric for economists, journalists, politicians and commentators when assessing the health of the U.S. economy.

Lower unemployment rates have often been associated with positive sentiments about the state of the economy and the country. But today, that is not the case.

The impact of a low unemployment rate isn’t what it used to be. As it turns out, there are four major factors contributing to this negative view of our economy:

  • The lower labor force participation rate distorts the unemployment situation.
  • Wages have been slow to recover following the Great Recession—and concerns of inequality are high.
  • Businesses are concerned about political and global uncertainties.
  • The recession of 2009 changed the way businesses operate. They are still suffering from the aftermath of the Great Recession. Many are holding back, sitting on cash and being cautious.

Now what?

Pull back the curtain and you will see plenty of reasons why the post-Great Recession economy is not all it’s cracked up to be—jobless Americans on the sidelines uncounted, slow wage growth coupled with concerns of inequality, and businesses unsure how to react to world events, and whether it’s safe to take risks and invest.

So what should the new administration do?

The president, his administration, and the new Congress should zero in on four key goals:

1.     Getting more workers off the sidelines and back in the workforce with good-paying jobs by equipping them with the skills needed to do those jobs.

2.     Raising wages—not artificially with minimum wage laws—but through a growing economy.

3.     Relieving business of regulations, rules and barriers to success.

4.     Encouraging businesses not to be overly cautious—in order to get over their hangover—while promoting policies that encourage re-investing in the economy.

So what is Express Employment Professionals doing in collaboration with educators?

The future of America is bright. America is still a beacon of hope, and every student should be provided the opportunity of the ‘American Dream’.

At Express, we are dedicated to working with K-12, community colleges, career techs and higher ed institutions to a) help prepare students for the work place and b) help as many people as possible find good jobs by helping as many clients as possible find good people. We have set forth several steps to achieve these goals:

  1. Convey that our studies find 90% of students are encouraged to obtain a four-year degree (by counselors, parents...) when staffing companies know that two-thirds of job openings require a motivated individual with a two-year associate’s degree or a trade school certificate. 
  2. Help Oklahoma educational institutions save 2% in direct payroll administration cost...and provide staffing solutions that help relieve ‘pain points’ in the changing HR landscape.  
  3. Offer complimentary programming to all schools aimed at preparing 17-24 year olds for the workforce (e.g. https://www.expresspros.com/ ).
  4. Sponsor specific programs, platforms aimed at recognizing great educators – for example, ‘Teacher of the Year’.

Please let me know if there is anything we can do to help you accomplish your personal and professional goals in 2017!

 

About the Author

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Craig Clemons

Craig Clemons is a business strategist, a networking guru, and a singer/songwriter. He develops relational equity and has extensive experience in strategic community partnerships.

As Vice President of Public Relations and Business Development for Express Employment Professionals, Clemons develops new business opportunities for the company’s vast network of franchise locations in the United States, Canada, and South Africa.