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Labor Force - Essay Example

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Author : ukulas

Summary

The title of the United States as being "The Land of Opportunity" seems to be holding true as unemployment is slowly, but steadily going down. This is according to the Bureau of Labor Statistics Data, whose unemployment rate chart shows that since the high unemployment rate in 2003, the economy is slowly recovering…

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Labor Force


This positive forecast for the aggregate economy also holds benefits for the small-scale industries and businesses. This means that entrepreneurs, employees and businessmen can take advantage of this optimistic economic situation to improve their own personal incomes and success. Let's use the case of a firm that deals with technology-perhaps dealing with electronics, computers or communication devices. Selling its products and services is its main objective. A firm like this can utilize the good economic condition by investing on tactics that will sell its product more-advertising, promotion discounts, or new gimmicks to attract customers. One should keep in mind that increasing employment signals increasing businesses that hire people, hence, more competition. The firm might also consider expanding its market. For example, if the firm's product is only meant to appeal to a particular range of age, say, teenagers to young adults, it might want to try producing manufactured goods modified for younger children. Of course, an extensive customer research must follow. ...
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