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If You Lose Your Job, You Had Better Have a Fall-Back Plan

Written by Gary North on January 7, 2013

The USA gained 155,000 jobs in December 2012. In December 2011, it added 200,000 jobs. Something is wrong. Job growth is slowing down.

Why? One reason is Obamacare. It now pays firms with about 50 people on their payrolls to fire workers, or to cut back their hours below 30 a week. This makes these workers ineligible for the program. Firms began preparing for the change last year.

Labor force participation is lower today than it was in January 2009, when Obama was inaugurated. People have dropped out.

There are new taxes on business investment. So, businesses don’t invest as much. They don’t hire new workers.

What will it take to get the unemployment rate to 6%? Net new jobs of 356,000 a month for three years. Is this likely? No.

So, if you lose your job, you are in big trouble. It will not be easy to get re-hired at anything like your present salary.

You must stay in defensive mode. You must make yourself fireproof.

You must also have a fall-back plan in case you do get fired. Work on this constantly.

Do you have your own blog site related to your career niche?

Do you have your own YouTube channel? If not, here is how to get started.

Are you on Facebook regularly with people in your field?

Continue Reading on www.detroitnews.com

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