Sunday Question for 8 August 10 - What's Driving It?
This question is specific to your local economy.
I know many of us, not all, have seen things slow in our local economies in the last couple years. What is it that typically drives your economy and what will bring it back?
Please let us know the area you live so we can relate it to what you're saying.
If your economy is good, don't be shy. What's making it thrive?
I'd love to see the unemployment numbers go down.
Good Answers (43)
Denise D.
Small Business Communications & Online Vintage Seller
Best Answers in: Personnel Policies (2), Using LinkedIn (2), Job Search (1), Change Management (1)
Hello ReLo. Your question - if I may offer an edit - may be better stated as: "What are you doing to drive your personal economy?"
Who wants to hear dismal statistics cited and gloomy news stories reiterated? Not me, thank you very much. Rather, recalling (past) major shifts in how our world works reminds me that creative destruction is necessary so that positive forward motion can take place. Most recently (20 years ago) we were looking at the the blossoming internet and personal computers and how their use changed our lives and how we did business. Music changed and how it was delivered to us: MTV music videos. I can still remember the first music video I watched (on MTV by the way) and it was Michael Jackson's "Thriller". Can anyone dispute that there never was a music production like it before? That's what comes of creative destruction - innovation, a blending of systems into something new. As "Thriller" blended music performance and film-making to create a new format, so too are systems merging now. Evolution isn't really noticed until it's almost over. Just ask the dinosaurs ...
Again systems are crashing (to use a computer metaphor) to make way for a (another) new order of things. Those who desperately grasp onto the status quo are in for a bumpy ride. Many who have held on to old styles of working and living are caught in traps because they've put off adapting.
If you want regional economic trend reports, I suggest one click into their nearest Federal Reserve Bank - or your local Chamber of Commerce - for regional trends. Me? I'd rather dodge and weave and adapt as best I can and not be bummed out by someone else's bad news story. The "new" news is less-is-more ... isn't that an interesting trend to watch?
Thanks for the interesting question - a rarity on LI these days,
DD@Phila
Links:
- http://www.philadelphiafed.org/index.cfm
- http://www.greaterphilachamber.com/
- http://sethgodin.typepad.com/seths_blog/2010/08/resilience-and-the-incredib...
Clarification added August 15, 2010:
Coincidentally, a recent Seth Godin post reiterated (more eloquently) the point in my comment.
DD@Phila
Karen H.
Owner/Founder of Joy of Living Pet Care Service. We care for your critters
Best Answers in: Career Management (1)
I live in the KC Metro area. Our economy is doing ok, it's slowed but hasn't been hit as hard as other areas of the country. We have quite a bit of vacant commercial space, what will help us, I think, will be attracting more corporate entities and conventions. We've lost a few of those in the last couple of years and it's put a dent in the area economy, to be sure.
Francisco L.
Quality and process improvement
Best Answers in: Using LinkedIn (6), Change Management (3), Organizational Development (3), Mentoring (2), Work-life Balance (2), Project Management (2), Quality Management and Standards (1), Professional Books and Resources (1), Career Management (1), Ethics (1), Professional Networking (1), Small Business (1), Energy and Development (1), Information Security (1)
Querétaro (a city in central Mexico).
High tech - high quality manufacturing.
- Airplane
- Automotive
Support services
- Call centers
- Software development and IT services
- Higher education (Technical and Engineering)
Economy has been very slow, but it seems to be recovering.
The key to recovery is quality.
Consistent, dependable satisfaction of customer´s needs and expectations.
Bill N.
Content Creator and Technical Writer
Best Answers in: Using LinkedIn (58), Government Policy (10), Professional Networking (10), Ethics (9), Change Management (7), Education and Schools (6), Energy and Development (6), Mentoring (5), Job Search (4), Work-life Balance (4), Treaties, Agreements and Organizations (4), Advertising (4), Professional Books and Resources (4), Career Management (4), Web Development (4), Customer Service (3), Event Marketing and Promotions (3), Internationalization and Localization (3), Communication and Public Speaking (3), Professional Organizations (3), Blogging (3), Business Insurance (2), Purchasing (2), Business Dining and Entertainment (2), Resume Writing (2), Economics (2), Business Development (2), Public Relations (2), Writing and Editing (2), Organizational Development (2), Equity Markets (2), Project Management (2), Computer Networking (2), Air Travel (1), Car and Train Travel (1), Conference Planning (1), Personnel Policies (1), Staffing and Recruiting (1), Criminal Law (1), Internet Marketing (1), Viral Marketing (1), Customer Relationship Management (1), Lead Generation (1), Sales Techniques (1), Currency Markets (1), Derivatives Markets (1), Option Markets (1), Nonprofit Fundraising (1), Social Enterpreneurship (1), Personal Debt Management (1), Wealth Management (1), Branding (1), Business Plans (1), Starting Up (1), Green Business (1), Computers and Software (1), Databases (1), Information Storage (1), Telecommunications (1), Wireless (1)
NYC itself is still a tourist draw, and exchange rates make it attractive to come to the US right now. That's the only item of detail I can offer. Me, I could use more business, personally.
Wendy F.
Retired, HR
Best Answers in: Personnel Policies (3), Compensation and Benefits (1), Staffing and Recruiting (1), Health Administration (1), Work-life Balance (1), Nonprofit Management (1)
I live in Chicago and spend a fair amount of time in my hometown of Louisville, KY.
In both locations (as I suspect is the case elsewhere), small businesses have got to pick up steam. Based on my interaction with this group, anecdotal evidence shows funding sources remain dry. Small businesses need investment capital and operating funds to stay viable.
Other than that, If I look at economic cycles over the past 20 years and all have been attached to some type of innovation...information...social media...financial vehicles, etc.
Probably more information than you wanted...
wf
Brian C.
Independent Writing and Editing Professional
Best Answers in: Staffing and Recruiting (9), Employment and Labor Law (6), Government Policy (5), Writing and Editing (4), Using LinkedIn (4), Job Search (3), Health Care (2), Customs, Tariffs and Taxes (2), Advertising (2), Career Management (2), Information Storage (2), Business Insurance (1), Car and Train Travel (1), Hotels (1), Education and Schools (1), Resume Writing (1), Conference Venues (1), Accounting (1), Economics (1), Compensation and Benefits (1), Personnel Policies (1), Public Health and Safety (1), Exporting/Importing (1), Corporate Law (1), Intellectual Property (1), Direct Marketing (1), Business Development (1), Graphic Design (1), Lead Generation (1), Change Management (1), Organizational Development (1), Planning (1), Derivatives Markets (1), Futures Markets (1), Project Management (1), Supply Chain Management (1), Individual Insurance (1), Personal Taxes (1), Distribution (1), Market Research and Definition (1), Professional Books and Resources (1), Professional Networking (1), Starting Up (1), Green Products (1)
In Colorado, we're still waiting for the "recovery".
Jobs a bit better than average, partly due to illegals going home due to lack of jobs.
Big Federal presence in Denver with lots of gummint contracts which kind of smooths the ups and downs.
The ski season was disappointing to put it mildly - folks who are concerned about their economic future just don't blow a few large on a week or two on the slopes.
Other big sector, agriculture including cattle - well even if you grow it, you will have to accept the going price.
Like I said, still waiting for the recovery.
Leisa D.
Owner at Alexandra Design
Best Answers in: Environmental Health (1), Graphic Design (1), Using LinkedIn (1)
I'm in Alexandra, part of the Upper Goulburn region in Victoria. Our economy seems to be thriving with boutique wineries, stonefruits and tourism. The Goulburn River (fishing) and Lake Eildon (watersports) have always been a drawcard for visitors, but we're also getting visitors looking for a short break in the country, staying in a B&B.
Patty F.
Workforce Recruitment Consultant (Clinical Recruiter) Oregon State Hospital
Best Answers in: Staffing and Recruiting (12), Job Search (2), Resume Writing (2), Health Care (2), Organizational Development (2), Compensation and Benefits (1), Advertising (1), Philanthropy (1), Professional Books and Resources (1), Career Management (1), Ethics (1), Using LinkedIn (1)
I live in Portland, Oregon. Our unemployment is barely changing. Our State Government has a $155 million deficit currently. A couple of decades back, the lumber industry here died off. In its place, we got high-tech. Well you know how high-tech goes: always cyclical. Right now, jobs have gone away and not come back. I am seeing some resurgence in recruiting jobs...I'm a Recruiter...so that means some companies are planning to hire. Mostly what I see is healthcare...and maybe that's skewed perception since I'm in healthcare. Still over-all, companies are not doing business with Oregon right now. We will be electing a new Governor in November, and no matter who gets the job, we are hoping for economic stimulus in the way of a jobs-recovery AND increased business here in Oregon.
Bhalchandra P.
Brand Advisor, Branding Consultant, Marketeer right till the bone. Now!!! Tempting Brand Owners by SCENT....
Best Answers in: Using LinkedIn (23), Work-life Balance (4), Branding (4), Job Search (3), Project Management (3), Career Management (3), Travel Tools (2), Education and Schools (2), Staffing and Recruiting (2), Environmental Health (2), Graphic Design (2), Business Analytics (2), Planning (2), Product Design (2), Commercial Real Estate (1), Car and Train Travel (1), Hotels (1), Budgeting (1), Economics (1), Government Policy (1), Internationalization and Localization (1), Advertising (1), Events Marketing (1), Guerrilla Marketing (1), Internet Marketing (1), Business Development (1), Lead Generation (1), Search Marketing (1), Writing and Editing (1), Change Management (1), Organizational Development (1), Commodity Markets (1), Manufacturing (1), Personal Investing (1), Wealth Management (1), Communication and Public Speaking (1), Starting Up (1), E-Commerce (1), Computers and Software (1)
Mary, I stay in Mumbai, the financial capital of India, the best way to explain it, in just few words is 'Mumbai NEVER sleeps'.
Mumbai is land of dreams for all Indians who come here to earn their livelihood and fulfill their dreams, hence you can feel the hustle & bustle and adrenalin flows here like water. I won't recommend for a person who loves peace & tranquility, who wants to be hidden and doesn't have the energy & passion to survive in this stiff competition. It is not for the wimpy.........
Indian culture always stressed on saving & spending rather than borrowing & spending, hence in spite of global recession slowing the economy a bit but our intrinsic demand has helped us in moving on. In this bearish global economy talking of 8-9% growth rate is definitely not a joke.
Being one of the emerging economies (BRIC) the investments happening here are phenomenal and the demographic dividend, due to huge growing middle class with average age around 29-35%, this is a young country, we are more than confident that it will see us through the woods.
Clarification added August 8, 2010:
Pls read 29-35 yrs............
Farzad W.
Directing Manager, AdvanTech Media
Best Answers in: Small Business (3), Starting Up (2), Using LinkedIn (2), Education and Schools (1), Government Policy (1), Health Administration (1), International Law (1), Advertising (1), Direct Marketing (1), Internet Marketing (1), Viral Marketing (1), Business Development (1), Graphic Design (1), Corporate Governance (1), Quality Management and Standards (1), Market Research and Definition (1), E-Commerce (1), Computers and Software (1)
Three things drive the economy in the US:
1- Small businesses
2- Small businesses
3- Small businesses
So why big banks get to screw small businesses and still get bailed out, beats me.
Wallace J.
Multimedia Producer, i3D Programmer, Acrobat 3D PDF, Android App, Virtual World & iTV Design, Kindle, Nook & Sony eBooks
Best Answers in: Using LinkedIn (139), Computers and Software (32), Web Development (24), Business Development (22), Government Policy (20), Internet Marketing (18), Software Development (18), Work-life Balance (17), Staffing and Recruiting (15), Career Management (14), Education and Schools (13), Small Business (12), Graphic Design (11), Job Search (10), Advertising (10), Starting Up (10), Wireless (10), Search Marketing (9), Change Management (9), Branding (9), Ethics (9), Travel Tools (8), Economics (8), Public Relations (8), Organizational Development (8), Manufacturing (8), Professional Networking (8), Energy and Development (8), Enterprise Software (8), Mentoring (7), Health Care (7), Business Analytics (7), Quality Management and Standards (7), Market Research and Definition (7), Blogging (7), Telecommunications (7), Internationalization and Localization (6), Mobile Marketing (6), Sales Techniques (6), Product Design (6), Customer Service (5), Occupational Training (5), Employment and Labor Law (5), Events Marketing (5), Writing and Editing (5), Planning (5), Communication and Public Speaking (5), E-Commerce (5), Freelancing and Contracting (4), Venture Capital and Private Equity (4), Government Services (4), Environmental Health (4), Direct Marketing (4), Viral Marketing (4), Supply Chain Management (4), Distribution (4), Professional Books and Resources (4), Business Plans (4), Computer Networking (4), Business Dining and Entertainment (3), Hotels (3), Event Marketing and Promotions (3), Conference Planning (3), Conference Venues (3), Customer Relationship Management (3), Lead Generation (3), Social Enterpreneurship (3), Project Management (3), Engineering (3), Green Products (3), Biotech (3), Databases (3), Information Security (3), Purchasing (2), Air Travel (2), Accounting (2), Financial Regulation (2), Personnel Policies (2), Public Health and Safety (2), Exporting/Importing (2), Offshoring and Outsourcing (2), Criminal Law (2), Contracts (2), Corporate Governance (2), Currency Markets (2), Personal Debt Management (2), Wealth Management (2), Green Business (2), Business Insurance (1), Commercial Real Estate (1), Facilities Management (1), Regulation and Compliance (1), Car and Train Travel (1), Certification and Licenses (1), Resume Writing (1), Budgeting (1), Corporate Debt (1), Foreign Investment (1), Corporate Taxes (1), Risk Management (1), Compensation and Benefits (1), International Law (1), Treaties, Agreements and Organizations (1), Finance and Securities Law (1), Intellectual Property (1), Guerrilla Marketing (1), Commodity Markets (1), Equity Markets (1), Nonprofit Fundraising (1), Nonprofit Management (1), Inventory Management (1), Personal Investing (1), Personal Real Estate (1), Franchising (1)
I live in Santa Barbara, so it's tourism here. Cruise ships have added Santa Barbara as a port recently, bringing millions in spending to stores along our historic State Street! Thanks Carnival! Cheers Mary! Ciao Bella. Walls.
Ruth S.
Multi-Skilled Technician at Lakewood Ranch Medical Center
Best Answers in: Using LinkedIn (2), Budgeting (1), Compensation and Benefits (1), Lead Generation (1), Change Management (1), Equity Markets (1), Nonprofit Management (1), Career Management (1), Communication and Public Speaking (1)
Hi, mary.
I live in Sarasota, FL. The local economy is driven by tourism which is doing well this Summer since the euro is strong and the oil spilled in the Gulf never made it here. Then, in the Fall, Winter & Spring we welcome our friends from up North. Also, Spring comes with Spring break.... Meanwhile, the health care area keeps busy caring for the aging population and the tourists when they get sick...
Mary, you should consider adding this area to your many travels :-)
Have a great week!!!
♥Ruth♥
Kevin H.
Web Business Consultant since 1998
Best Answers in: Ethics (145), Career Management (29), Government Policy (16), Using LinkedIn (13), Mentoring (11), Web Development (11), Education and Schools (8), Starting Up (6), Philanthropy (5), Professional Networking (5), Work-life Balance (4), Business Development (4), Social Enterpreneurship (4), Staffing and Recruiting (3), Internationalization and Localization (3), Criminal Law (3), Lead Generation (3), Change Management (3), Organizational Development (3), Communication and Public Speaking (3), Business Plans (3), Energy and Development (3), Certification and Licenses (2), Job Search (2), Financial Regulation (2), Government Services (2), Personnel Policies (2), Property Law (2), Sales Techniques (2), Writing and Editing (2), Corporate Governance (2), Planning (2), Small Business (2), Customer Service (1), Freelancing and Contracting (1), Occupational Training (1), Economics (1), Compensation and Benefits (1), Health Care (1), Corporate Law (1), Employment and Labor Law (1), Guerrilla Marketing (1), Internet Marketing (1), Viral Marketing (1), Public Relations (1), Business Analytics (1), Nonprofit Fundraising (1), Pricing (1), Professional Books and Resources (1), Blogging (1), E-Commerce (1)
All of our industry has gone overseas. This is good to balance the world's economy, but means we have no core jobs.
Our problem is possibly because when it really comes down to it, nobody produces anything anyone needs.
I also believe that we have basically all of our needs met. Basically it now takes 2 people, simply because we flooded the labor market with both spouses when an economy could be sustained with only one in the labor market. This drove down labor wages but didn't significantly increase the return to us--putting in 80 hrs a week instead of 40 did not double our return, and some argue it merely halved our return per hour and landed us with the reward we would have otherwise had.
All these factors mean youth cannot get on their feet very easily. All there is is service jobs.
I remember when Ross Perot took out his charts and tried to explain this would happen...
An economy thrives when people produce value people need, so:
1. We don't "need" much more, so we are actually working too much--one person could meet all a family's needs.
2. We should produce essentials
In The Omnivore's Dilemma, Michael Pollan points this out:
A farmer in 1950 made a living, feeding 12 people.
Today, that same farmer cannot make a living feeding 144 people.
Somewhere along the line, we have probably ALL boosted productivity exponentially. Our economy is suffering because the consumers didn't get much of this exponential growth to spend.
So, since we don't need much, and since we don't receive much of the efforts of our labor, and since we ourselves produce little of what we need, we crashed into a service economy as Ross Perot, crazy as he was, and others predicted.
Thusly, the answer would be to start becoming a self-sustaining economy again.
Oh, also the big banks played financial games with our lives, and all in all we don't even need them. And they imagine that since they juggle money well it is somehow of value to US. They are the fox ruling the henhouse. There is a move toward community banking.
In short, if we want a healthy economy, we should simply be valuable producers.
- -.
Best Answers in: Professional Networking (2), Using LinkedIn (2), Work-life Balance (1), Internet Marketing (1), Business Development (1), Business Plans (1)
What drives the economy is people. When people are down, the economy is down. When the economy is down, people are down. Which comes first?
Dr.Ivan Misner founder of BNI, once said that he "refused to participate in the recession." You see we all are connected somehow and influence one another. When we realize that what The Economy does or doesn't do, doesn't have to dictate what WE do with our economies, then we are less at its mercy. There are always people thriving and those who are struggling - regardless of what The Economy is doing.
To me it is a matter of adjusting and looking for opportunities - they're there, we just need to recognize them. I recently started a group called Link Power here on LinkedIn - http://linkd.in/Link_Power. One of the reasons for starting this group is to help people learn to recognize the opportunities available to all of us - especially when we collaborate. I invite all of you reading these question to join us
Shammi M.
Business Leader Spearheading B2C Lubricant Sales
Best Answers in: Using LinkedIn (6), Personnel Policies (2), Staffing and Recruiting (2), Ethics (2), Hotels (1), Education and Schools (1), Mentoring (1), Work-life Balance (1), Internationalization and Localization (1), Treaties, Agreements and Organizations (1), Direct Marketing (1), Customer Relationship Management (1), Search Marketing (1), Corporate Governance (1), Organizational Development (1), Currency Markets (1), Futures Markets (1), Manufacturing (1), Career Management (1), Starting Up (1), Energy and Development (1)
Hi Mary,
I live in Mumbai (India). Though the slow down did have some impact but it was largely upbeat here. This is more due to the government's policies and the tradition of Indians to save for the rainy days. The effect of recession is weaning and there are cheers all around.
So, what's driving it? The SPIRITS, I would say.
Cheers
Shammi
Steve R.
Hardware, Operating Systems and Networking
Best Answers in: Small Business (2), Using LinkedIn (2), Education and Schools (1), Government Policy (1), Health Care (1), Work-life Balance (1), Employment and Labor Law (1), Direct Marketing (1), Organizational Development (1), Quality Management and Standards (1), Product Design (1), Telecommunications (1)
Hi Relo,
Chattanooga is experiencing a job shift. Historically the region was heavily involved in manufacturing with tourism as a back-burner item. For the past fifteen plus years tourism has overtaken manufacturing. In 2009 Volkswagen decided to build vehicle assembly plant here. This should be followed by peripheral support business. This is expected to move the region in the right direction. Things are looking positive. This country has survived worse, and will come out of this situation stronger and more able to function in today’s global economy.
Heidi T.
Editor at Wordsmith Pros
Best Answers in: Using LinkedIn (21), Ethics (7), Career Management (6), Job Search (4), Professional Networking (4), Staffing and Recruiting (3), Customer Service (2), Mentoring (2), Accounting (2), Government Services (2), Personnel Policies (2), Nonprofit Fundraising (2), Communication and Public Speaking (2), Computers and Software (2), Education and Schools (1), Certification and Licenses (1), Occupational Training (1), Corporate Debt (1), Government Policy (1), Compensation and Benefits (1), Health Care (1), Business Development (1), Sales Techniques (1), Writing and Editing (1), Change Management (1), Inventory Management (1), Packaging and Labeling (1), Personal Investing (1), Small Business (1), E-Commerce (1), Computer Networking (1), Information Security (1), Telecommunications (1), Web Development (1)
I'm near Fairbanks, Alaska.
The economy here has many drivers: a University, tourism, government, nearby military bases, communication, finance, manufacturing, mining, real estate development and construction, and healthcare are major local economic forces. Fairbanks serves as a transportation and supply hub for more remote communities.
I'm seeing stagnation here. Things are pretty slow right now. There are a few jobs. Most open positions are in the retail and health care sectors. There have been a few small layoffs recently and there are persistent rumors of more to come.
What will bring the economy back is work for skilled laborers: construction, mining, and resource development jobs. A natural gas pipeline, a new large mining venture, major new real estate development, or a boom in an existing industry would do the trick.
Martin T.
Crisis Management§Interim Executive
Best Answers in: Using LinkedIn (130), Government Policy (13), Business Development (10), Organizational Development (9), Starting Up (8), Customer Service (7), Education and Schools (6), Economics (6), Staffing and Recruiting (6), Advertising (6), Career Management (6), Change Management (5), Ethics (5), Small Business (5), Business Dining and Entertainment (4), Travel Tools (4), Mentoring (4), Internationalization and Localization (4), Sales Techniques (4), Job Search (3), Internet Marketing (3), Writing and Editing (3), Social Enterpreneurship (3), Positioning (3), Car and Train Travel (2), Hotels (2), Occupational Training (2), Government Services (2), Public Health and Safety (2), Work-life Balance (2), International Law (2), Customs, Tariffs and Taxes (2), Guerrilla Marketing (2), Public Relations (2), Search Marketing (2), Business Analytics (2), Planning (2), Project Management (2), Personal Investing (2), Wealth Management (2), Business Plans (2), Blogging (2), Computers and Software (2), Computer Networking (2), Information Security (2), Web Development (2), Business Insurance (1), Commercial Real Estate (1), Facilities Management (1), Event Marketing and Promotions (1), Accounting (1), Foreign Investment (1), Compensation and Benefits (1), Personnel Policies (1), Environmental Health (1), Criminal Law (1), Contracts (1), Employment and Labor Law (1), Viral Marketing (1), Graphic Design (1), Customer Relationship Management (1), Lead Generation (1), Corporate Governance (1), Equity Markets (1), Futures Markets (1), Manufacturing (1), Packaging and Labeling (1), Quality Management and Standards (1), Retirement and Estate Planning (1), Market Research and Definition (1), Engineering (1), Pricing (1), Energy and Development (1), E-Commerce (1), Enterprise Software (1), Information Storage (1), Telecommunications (1), Wireless (1)
Dubai - UAE
Well of course we had our Real Estate Bubble which burst big time about 18 months ago. Prices are way down and still tumbling, there's massive oversupply and many projects, the fanciful and the mundane, will now likely never be completed. This place is a ghost town compared to two years ago.
On the plus side this is still one of the major re-export hubs of the world, we have two of the worlds biggest artificial ports in Jebel Ali and Mina Rashid the latter of which is to be developed as a cruise terminal.
Tourist numbers are recovering slowly and though the boom there too is past for now that wasn't a bubble - but it is dependent on the global economy. And of course India and China are steadily filling the gaps left by Western Tourists.
Our overall economy is still totally on the rocks - it was fuelled as we all knew by greed and optimism, the latter of which has gone. But we do have a decent infrastructure, a great Winter Climate, a culture of hospitality and a long long history of trading. We will see this through and consolidate and be good in time.
Diňésh R.
► WE'LL HELP YOU ◄ deliver Defects Free Software ► HELP Improve your Software Testing Productivity◄
Best Answers in: Using LinkedIn (1503), Customer Service (48), Business Development (6), Staffing and Recruiting (5), Certification and Licenses (3), Work-life Balance (3), Education and Schools (2), Mentoring (2), Event Marketing and Promotions (2), Planning (2), Manufacturing (2), Professional Books and Resources (2), Professional Organizations (2), Professional Networking (2), Computers and Software (2), Regulation and Compliance (1), Hotels (1), Travel Tools (1), Occupational Training (1), Resume Writing (1), Financial Regulation (1), Risk Management (1), Government Policy (1), Health Care (1), Public Health and Safety (1), Treaties, Agreements and Organizations (1), Direct Marketing (1), Guerrilla Marketing (1), Mobile Marketing (1), Search Marketing (1), Business Analytics (1), Corporate Governance (1), Nonprofit Management (1), Social Enterpreneurship (1), Project Management (1), Quality Management and Standards (1), Supply Chain Management (1), Wealth Management (1), Market Research and Definition (1), Career Management (1), Ethics (1), Business Plans (1), Franchising (1), Blogging (1), Databases (1), Information Security (1), Telecommunications (1), Software Development (1)
Hello Marry:
I live in Trivandrum - India.
Country wide we are second in GDP
So is reflected in States and City.
IT & Tourism is Driving.
Cheers,
-Dinesh
Jeff H.
Principal Program Manager | Eminent Influencer of Best PM Practices | Residential Energy Efficiency Zealot
Best Answers in: Using LinkedIn (3), Work-life Balance (1), Internationalization and Localization (1), Nonprofit Management (1), Project Management (1)
Hi Mary .. I actually know the answer, saw it on a TV report. Our US Patient Office has 700,000+ patients waiting for approval. The average time for a patient search to complete is 3 years. The cost is only $500 per person or $1000 per corporation for each patient. The Patient Office has applied for 1200 additional patient researchers to reduce the backlog but the Government takes $200 million USD per year from the patient office budget to fund other programs. If the Government would just let the Patient Office keep the $ they get for each Patient they could easily fund the additional workers necessary. The point here is that if those patients were approved sooner the products would need to be manufactured, marketed, distributed, serviced, etc which would create 1000’s of new jobs to handle the demand. More people working would make more $ and therefore purchase more goods and services, etc. $200M is only a fraction of what the Government spends on Military, Healthcare, etc – a literal drop in the bucket. That one change alone would make an incredible difference in our economy. It’s that simple…JGH
Judy B. M.
Business WRITER | Editor | Blogger | Strategic MARKETING COMMUNICATIONS | B2B | Web Content Creator | BusDev
Best Answers in: Using LinkedIn (152), Writing and Editing (14), Business Development (11), Staffing and Recruiting (8), Public Relations (8), Career Management (8), Communication and Public Speaking (8), Professional Networking (8), Organizational Development (7), Job Search (5), Planning (5), Quality Management and Standards (5), Ethics (5), Government Policy (4), Freelancing and Contracting (3), Mentoring (3), Conference Planning (3), Personnel Policies (3), Health Care (3), Internationalization and Localization (3), Sales Techniques (3), Search Marketing (3), Social Enterpreneurship (3), Customer Service (2), Business Dining and Entertainment (2), Education and Schools (2), Occupational Training (2), Advertising (2), Mobile Marketing (2), Product Design (2), Professional Books and Resources (2), Small Business (2), Blogging (2), Computer Networking (2), Telecommunications (2), Purchasing (1), Travel Tools (1), Resume Writing (1), Event Marketing and Promotions (1), Conference Venues (1), Accounting (1), Venture Capital and Private Equity (1), Economics (1), Government Services (1), Compensation and Benefits (1), Public Health and Safety (1), Work-life Balance (1), Exporting/Importing (1), Property Law (1), Direct Marketing (1), Guerrilla Marketing (1), Internet Marketing (1), Viral Marketing (1), Graphic Design (1), Customer Relationship Management (1), Corporate Governance (1), Change Management (1), Equity Markets (1), Nonprofit Fundraising (1), Nonprofit Management (1), Manufacturing (1), Packaging and Labeling (1), Personal Taxes (1), Branding (1), Market Research and Definition (1), Pricing (1), Professional Organizations (1), Business Plans (1), Starting Up (1), Energy and Development (1), Biotech (1), E-Commerce (1), Computers and Software (1), Software Development (1), Web Development (1)
Toronto: I think the stiff financial regulations governing our banking sector, and the fact that we have only five major banks, kept Canada afloat, though the jobs sector is not recovering as quickly as some predicted.
Lisa R.
Brand Strategist, Creative Problem-Solver, Speaker, Trainer, Insights
Best Answers in: Advertising (7), Internet Marketing (3), Organizational Development (3), Business Development (2), Public Relations (2), Customer Service (1), Government Policy (1), Government Services (1), Staffing and Recruiting (1), Public Health and Safety (1), Work-life Balance (1), Viral Marketing (1), Graphic Design (1), Customer Relationship Management (1), Writing and Editing (1), Business Analytics (1), Change Management (1), Planning (1), Manufacturing (1), Project Management (1), Supply Chain Management (1), Wealth Management (1), Career Management (1), Software Development (1), Using LinkedIn (1)
Upscale suburbs also hurting. Local businesses pooling together via Chamber of Commerce promoting BUY LOCAL. Hired PR firm (Korshak) and promoting BUY LOCAL w all retailers (downtown shopping area) - weekly emails to residents on promos - qtrly magazine promoting city - joint ads in weekly newspaper and metros. BUY LOCAL is big and used by neighboring suburbs. Do some cross promotions w larger retailers (Saks) - cross promoting with local restaurants. Many nonprofits/charities headed by residents -- joint venues -- fashion shows, etc. Know of spa/manicures doing promos with high schools (peds for prom) - OK my idea - on that one. Not sure helping employment, per se - but helping a bit with maintaining. Store closings down and a few new stores. Even public library cross promoting w stores - there's a pervasive spirit to keep the community alive and growing.
Okay. Here is an answer that may, in part, shock you. We never really slowed down. But, here is what will make us grow faster
1. Infrastructure
2. Health care. Addressing malnutrition
3. Development of the poor
4. Shoot 90% of India's politicians.
Phyllis R.
Personal Development Coach at Coach Phyllis.Com Inc
Best Answers in: Education and Schools (2), Job Search (2), Mentoring (2), Using LinkedIn (2), Occupational Training (1), Writing and Editing (1), Professional Networking (1)
Mary, I live in Newfoundland/Labrador, Canada and off shore oil is driving our economy. Our economy is the best it has ever been in years. There can be a downside to this as the price of homes have increased tremendously with a 14% over the last year.
Links:
Bob S.
Seasoned Training and Development and Telecom Professional
Best Answers in: Mentoring (4), Organizational Development (3), Using LinkedIn (2), Education and Schools (1), Advertising (1), Philanthropy (1), Ethics (1), Small Business (1)
Mary,
For the state of Georgia, the unemployment numbers are worse (depending on the report you see) than the national average. Why is that? There are lots of manufacturing locations that are closing doors and moving south of the border or elsewhere. Granted, Atlanta seems to still be holding onto the reputation of "Home of HQ," where many companies' headquarters are based, but the work for the overall population is taking a hit.
I have seen several times (including Chattanooga, TN, to the north) where they believe a single car manufacturing plant moving into the area will change the entire economy and provide jobs - Georgia has seen its share recently as well with Kia near the Alabama line. But what has really been happening is that it may help the economic development of the area, but the companies aren't offering much of the work to the locals. So the jobless rates are staying the same or rising while those companies bring in workers from all over the world. It is a trend I have seen over and over where a city gets all pumped for the number of jobs coming to a region, only to find out that the jobs are rarely being filled by locals.
What is my answer to solving all of the economic problems? If you talk to these companies that are leaving, the answer they are giving for leaving is oftentimes, "Taxation is killing us, and <named location of change> won't." I read an article the other day about the new employment surge and growth in the economy of Canada, and that was also the big selling thing to bring businesses there. They are giving them tax breaks to move there. It is a cornerstone of capitalism, and it does work.
Bob
Andy A.
Supply Network Planning Manager at Sappi Fine Paper
Best Answers in: Government Policy (110), Economics (18), Government Services (13), Using LinkedIn (7), Health Care (6), Supply Chain Management (5), Ethics (4), Work-life Balance (3), Communication and Public Speaking (3), Regulation and Compliance (2), Education and Schools (2), Planning (2), Equity Markets (2), Social Enterpreneurship (2), Inventory Management (2), Small Business (2), Energy and Development (2), Certification and Licenses (1), Event Marketing and Promotions (1), Conference Venues (1), Budgeting (1), Government Contracts (1), Compensation and Benefits (1), Staffing and Recruiting (1), Health Administration (1), International Law (1), Treaties, Agreements and Organizations (1), Criminal Law (1), Business Development (1), Change Management (1), Labor Relations (1), Bond Markets (1), Derivatives Markets (1), Project Management (1), Career Management (1), Green Business (1), Green Products (1)
Hi Mary --
I'm in Maine, so we're riding on the backs of tourists and crustaceans.
Both are good this year. Tourists are turning red on our beaches and our lakes, and lobsters are turning red in our pots.
Isn't it ironic that a blue state counts on turning things red in order to roll in the green and stay in the black?
In all seriousness, though, the price of lobster is way too low. Love to see that get a hike and help out our lobstermen.
Daniel C.
Business Process Professional
Best Answers in: Using LinkedIn (9), Mentoring (1), Occupational Training (1), Organizational Development (1), Planning (1), Personal Investing (1), Wealth Management (1), Career Management (1), Ethics (1)
Northeastern Pennsylvania has been a somewhat depressed economic area since the demise of deep coal mining in the late 1950's consequently when the economy booms, NEPA never quite booms as high; but on the flip side when the economy tanks, NEPA never has far to fall so we never have the deep lows.
Our local economy is driven my a couple of factors; but the primary one is service. We have developed a service driven economy. Not as in food service; but as in industry which services other areas. Our largest employer is the Department of Defense with a large army depot located in the Pocono Mountains. Here we service communications equipment for the army. We also have a number of back office operations for somemajor corporations and government agencies such as Kraft Foods, MetLife, US Postal Service, Sallie Mae, & the Social Security Administration.
Located just a short drive from both New York City and Philadelphia, NEPA has become the home for many people looking for slower pace of life for thier families; but still with an easy commute to the fast paced careers in Financial Services, Fashion, Medical Arts, and much more in the New York, New Jersey, & Southeastern Pennsylvania.
At the juncture of both Interstates I-81 & I-80 NEPA has access to the entire country from east coast to west coast on I-80. We have a number of trucking and logistic facilities in the area to accomadate warehousing and transportaion needs.
With at least a dozen universities and colleges, NEPA is a great place to learn. We have major business connected to these schools with a major business plan competition to foster new business each spring.
Just recently implemented in Pennsylvania is some new gambling laws. NEPA has one of the first casinos to open in Pennsylvania. Now since July, table games are open in Pennsylvania. This has resulted in a boom in building and tourism in the area around this gambling mecca. One fact to note, Pennsylvania earned more tax revenue from gambling in 2009 than Nevada.
All of this is driving NEPA economy forward. To this I add, NEPA is a great place to do business if you are looking for low cost, hard working people, great schools, & a close commute to the big city. Why don't you come and see us some time.
Cheers,
Dan
Jacques J.J. S.
3J web CSS HTML Wordpress SEO
Best Answers in: Using LinkedIn (10), Green Business (3), Blogging (3), Internet Marketing (2), Small Business (2), Computers and Software (2), Databases (2), Hotels (1), Mentoring (1), Risk Management (1), Government Policy (1), Personnel Policies (1), International Law (1), Treaties, Agreements and Organizations (1), Intellectual Property (1), Mobile Marketing (1), Public Relations (1), Writing and Editing (1), Change Management (1), Labor Relations (1), Packaging and Labeling (1), Product Design (1), Professional Networking (1), Information Security (1), Software Development (1), Web Development (1), Wireless (1)
West of Nelspruit, South Africa - gold mines are busy, as the price is at a recordhigh - they're even re-opening old mines. Tourism is a joke, as the council is a joke - town needs to diversify, but they probably don't even know to spell it...
Amit T.
Chartered Accountant, Promoter - GlobaliConnect
Best Answers in: Accounting (6), Economics (5), Financial Regulation (3), Mergers and Acquisitions (3), Auditing (2), Budgeting (1), Venture Capital and Private Equity (1), Corporate Taxes (1), Risk Management (1), Internationalization and Localization (1), Finance and Securities Law (1), Planning (1), Equity Markets (1), Professional Networking (1), E-Commerce (1)
Here in New Delhi, India. Drivers of our economy: infrastructure development, services sector, globalisation and our huge consumer market. A highly talented, skilled and English-speaking human resource base forms its backbone. Economy is good, growth is good. Mary, not shy on saying economy is good …. but shy on mentioning the negatives …!
