The U.S. unemployment rate is expected to remain
high through 2010 even though the rate dropped in October.
The U.S. unemployment rate surprised a lot of experts when it fell from 10.2% in September to 10.0% in October. Another surprise was the fact that only 11,000 jobs were lost in October after many months of major job losses.
When you include part time workers seeking full time employment and laid off workers who have given up looking for a job, the U.S. unemployment rate is actually much higher. That rate was 17.5% in September. It fell to 17.2% in October. The reduction in these rates is an encouraging sign that the labor markets and the economy are improving.
But if you step back and look at the overall unemployment picture, the numbers aren't quite so good.
There are still 15.4 million Americans looking for work. There are another 11.5 million who are underemployed - those employed but making less than before they were laid off.
A total of close to 27 million people looking for work or better paying jobs is a staggering number. Here is a sobering thought. It will take many, many years for all these people to find work, even if the growth in the economy is far greater than normal. Above average growth is not likely because of the drag on the economy, caused by huge deficits, continuing government spending, higher taxes, and higher interest rates. Another thing to consider is that many jobs will not be replaced. Other jobs lost will require different skills when they are later refilled.
There are many more workers who have not lost jobs but are feeling job insecurity. Because an economic recovery is expected to be painfully slow, some of these workers are setting up job backup plans. This approach is to be commended. It provides the worker an alternative source of income in case a family experiences a reduction in income.
A job backup plan can consist of many different possibilities. Many moms and dads are electing to go the route of looking into a home based business. Many transition into the internet marketing industry.
There are 3 important steps to follow in setting up a good business plan:
1. Choose a good internet marketing business coach. A potential move into the internet marketing industry can be confusing and sometimes overwhelming. A good coach can help you set up an internet marketing business plan that takes into account your background, your interests, and your skills. This makes the transition much easier and enjoyable. The internet is always changing. Having a coach who is familiar with the latest trends and techniques will give you an advantage.
2. An investment of your time is required. You must plan on committing time to this new endeavor. It will probably mean reducing the amount of time you watch television. Fun activities such as going to the movies or a night out with friends may have to be eliminated. If you find yourself complaining about this time commitment, you are probably not cut out for making this move. On the other hand, if you are willing to do what it takes, you are well on your way to success.
3. A good coach will suggest the best internet marketing training that will be most beneficial to you. Getting the right training is absolutely critical. Detailed, step-by-step training is what you need. You need to learn how to set up cutting edge marketing methods as well as fitting these methods together to maximize lead generation.
An internet marketing business plan makes a perfect job backup plan.
An internet marketing business provides unlimited income potential. There are many benefits in having your own home based business. But watch out for hype and scams. You should avoid any business that claims unlimited riches in a short amount of time.
You will need a road map. Good training is a very important piece of the road to success. A good coach will be instrumental in putting together an business plan for you and helping you get started. This will allow you to save time and money. It will give you a head start in achieving internet marketing success.