What will the new decade bring for employment and career prospects? An interesting set of statistics posted by the Bureau of Labour offers some insight into trends and provides information on where career and business opportunities might lie.
1) Management and consulting services

Leading the list of five industries with the largest wage and salary employment growth potential in the ten years from 2008 to 2018 is the category of management, scientific and technical consulting services.

The sector falls under professional and business and could see an increase of 82% in employment figures. It will certainly prove to be the decade for consultants and professional advisors.

2) Services for the elderly and persons with disabilities

There is no prize for reckognising this as a growth area for employment. This field, falling under health care and social assistance, is considered to grow by 73% in providing employment and business opportunities.

With the ageing population in almost all parts of the world, it is not difficult to see that providing care for elderly people will be a substantial growth industry. Furthermore, as civilisations become more aware of the rights of disabled people, this in turn will lead to more inclusive care facilities for disabled people.

Besides the trend towards mainstreaming disabled people in schooling and the work environment there is a further push to allow disabled people to live independent lives. This particular trend will lead to a growth in the category described in number three.

3) Home health care services

Another winner in the health care and social assistance sector is the home health care service industry. This is considered to have growth potential of 46% for wage and salary employment.

Allowing the elderly to remain at home and providing assistance with care will become a more humane way of dealing with frail people. Add to this the care of disabled people at home rather than at institutions and one can see this sector could be in for a growth in employment opportunities.

4) Computer system designs

Systems design and related services falling under professional and business sector is considered a growth area in terms of wage and employment and is said to be growing by up to 45% in the period under discussion.

Technological innovation will provide for a large scale requirement for computer systems. Every gadget has a computer chip and operating system. Designing these will allow for more employment. Could it mean that computer science should become a compulsory subject in schools?

5) Retail trade

The retail trade may be growing and showing an increase in wage and employment opportunities of 40% during the term under discussion. Some of this growth could be diversified though in that the retail sector is showing particular growth in the online environment.

Some parts of retail will migrate more towards the computer system design skills set and move away from stacking shelves and ringing up goods on a cash register. Either way, retail will employ more people.

These are some interesting trends and it might be advisable for young people and members of the older generation finding themselves without traditional jobs to focus on acquiring skills in any of the above industry sectors.

From the end of 1999 through the end of 2009, all of the popular Wall Street market performance measurement tools were in the red. The average bloodletting level of the DJIA, the S & P 500, and the NASDAQ was a disturbing-to-some minus nineteen percent.

Most of the investment community is either open-mouthed in shock or strident in blame about the somethings or someones who must be responsible for such horrific performance. Never again they swear to their clients— without ever a hint that they might themselves be the problem.

It won’t be long before the Wizards of Wall Street announce that they have studied the situation, and readied their sales minions to switch the shattered investment public into yet another fail proof (fool-magnet?) portfolio of hedges, gimmicks, signal responders, and panaceas for whatever the new decade brings.

Once again they will attempt to debug the market cycle and create an upward only future for the masses. Try not to be abused again— the markets aren’t broken, just the market shakers. Your portfolio should be up in market value— and not by just a little for the “dismal decade”.

These are the same geniuses that created the dotcom bubble by cramming valueless securities and speculative IPOs down your throats. They are the same charlatans who created the derivative markets and fraudulently hid their gaming devices in innocent looking rolls of tissue paper.

Wall Street thrives on the boom and bust scenario — because it doesn’t really matter to them how many of you win or lose. The evidence is clear; a boring-but-winning approach has been out there (and ignored) for three equally productive decades. The investment gods are outraged!

The past decade was a fabulous decade for old-fashioned value investors, particularly those with a reasonable selling discipline in their methodology!

It was a fabulous decade for those who understood that quality, diversification, and income generation are principles as opposed to media placating buzzwords.

It was a fabulous decade for those investors who were able to see over, beyond, and through artificial time constraints to find the long-term opportunities within every beautiful market cycle undulation. There were plenty of gyrations to gyrate to if you only knew how.

Investing is no longer a passive enterprise; and it never really was. If you can’t manage your portfolio throughout the market cycle, without succumbing either to greed, to panic, or to artificial and complicated hedging strategies, just stop. Right now. Listen and learn something old.

The only market cycle hedges needed are quality, diversification, and income— all classically defined. Throw in some disciplined selection and selling guidelines, a cost-based asset allocation formula, and a non-calendar year perspective and success will follow— cyclically.

You may miss a speculative spike or two (i.e., bubbles), but in the long run, Market Cycle Investment Management (MCIM) is a proven methodology for long run investment success.

You just can’t replace market cycle reality with calendar year gimmickry. Do better. Google investment grade value stock and request the ten-year MCIM numbers.

Change is good.

Steve Selengut

Dan was a single guy living at home with his widowed father and working in the family business.

When he found out he was going to inherit a fortune when his sickly father died, he decided to find a wife with whom to share his fortune.

One evening at an investment meeting he spotted the most beautiful woman he had ever seen. Her natural beauty took his breath away.

“I may just look an ordinary man” he said to her, “but soon my father will die and I will inherit $200 million”

Impressed, the woman asked for his business card and three days later, she became his stepmother.

Women are so much better at Financial Planning than men.

Maybe it’s the holiday season, or maybe it’s just the rare sense of appreciation I felt when I noticed the missing number on the monthly invoice. An epiphany even! This company actually wanted, appreciated, and knew how to retain my business.

Moments earlier, after wrestling with a 300 pound Sumo telephone menu system, and after too many wasted minutes waiting to speak to a “representative”, my final conclusion was that I really needed to find a more responsive insurance company.

Consumers waste millions of hours annually punching numbers into keypads, just hoping for the opportunity to scream “representative” at the top of their lungs out of terminal frustration. Yes Virginia, the last thing most companies want you to do is actually speak to a person.
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If I were really cynical, I might even theorize that the larger companies purposely place their dullest, rudest, and most aggravating employees in their service departments. Companies that once had golden reputations now resort to nickel-and-dime service fees that they hide fraudulently on their statements, unfair late-charge practices, and exorbitant credit card interest rates.

Someday I hope to call a major company and speak to a real live person with the ability to get me to the person I need to speak with, without ever listening to a menu.

So let’s all take a minute to show our appreciation to those businesses and professionals out there who don’t torture us with telephone menus and rude employees. Let’s give a firm pat-on-the-back, a written standing ovation, even, to those we have done business with lately who remember what fair, and personalized service is all about.

Please, limit your praise to those you deal with infrequently, where you are not the big customer. And, if you can use services provided by the two companies I mention below, please do so. If we all take the time to find the merchants, professionals, service providers, and general good guys in business out there— well maybe, we’ll convince some of the others to get their heads back on straight.

Vision Payroll is located in Leominster, MA and I forgive their employees for being Red Sox fans. I have no clue how big or small they are, but a friendly and helpful human being answers the phone whenever I call.

Yesterday I realized that my payroll package had not arrived on time (maybe the first time in the four or five years of our relationship). I called; they investigated. They called, took the blame for what was probably a misunderstanding from a conversation a week earlier, and overnight packages to three locations for an on time, no problem, payday.

I am perhaps their smallest client, but they charged me not for anything— not even the normal monthly fee. Not a lot of money, but a wealth of business character.

ImprovementsCatalogue is an Internet Marketing Company located in West Chester, Ohio. Yes, they have a telephone menu, but in the height of the Holiday Season, when our brand new “pop-up” lighted Christmas tree was flawed out-of-the-box, they were mounted on their white horse, ready to save the day for the grandchildren.

One section of lights wasn’t working, and we certainly could have dealt with it.

With a wink of an eye and one little phone call, the real live elf at the end of the line arranged for pick up and delivery (still at the sale price of yore). Our living room was seasonally aglow again in three business days— shipping and handling included.

Let’s all try to spread the idea that smart business practices and true personal service are valuable. Businesses like these deserve recognition— and our patronage. Think about it. Most of the companies you deal with really tick you off— don’t they.

Steve Selengut
sanserve (at) aol.com

It’s not really a surprise to see Abu Dhabi hand over another bunch of dollars to its wayward relative Dubai. It had to be so; it was just a matter of time. The bailout or handout or whatever one wishes to call this latest transfer of money was necessary to shore up the reputation of the Emirates.

Dubai Metro

It’s the second time that Dubai has had help from it’s more conservative and wealthier neighbour. In February 2009 Abu Dhabi pledged $10 billion to prop up the ailing Emirate in a move to assist Dubai’s $20 billion long-term bond program. The Central Bank of the UAE bought up the first tranche of the bond issue.

The highest Tennis court in the world

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This latest bailout of $10 billion has been a must-do action. When one of your poor relatives, and Dubai with very little oil reserves may be considered that, gets ahead of itself by engineering a building boom literally built on sand it is but a matter of time before the white flag is hoisted.

Dubai Ski Slope

Add to this extraordinary grandiose real estate vision a global recession that world wide knocked property prices down a peg or two and one could easily see that the possibility of an economic shock in Dubai were highly likely.

Christmas in Dubai

Initially it seemed as if Dubai had decided on a solo flight by announcing on 25 November 2009 a unilateral decision to restructure $26 billion in debt. For this you may read – not pay its debt obligation on time.

Dubai Creek Golf & Yacht Club

The global market went into shock. It was as if the stock exchanges simultaneously suffered heart attacks. Some reaction had been anticipated as the announcement was cleverly made just before Thanksgiving on 26 a long week-end in the USA and the Eid al-Adha Festival a few days later on 28 November.

Dubai Airport

It is mooted by economists that the fall-out would have been even worse if this timing had not been used to soften the blow. Regardless of this clever timing, the markets reacted dramatically with stock exchanges posting serious drops and currencies such as the Euro and Pound taking part in jittery dance routines.

Dubai City

To a certain extent the dessert dust stirred up is still inhibiting a clear view of the action. It seems that the bailout coincides with a deadline for a payment related to an Islamic bond or sukuk due on Monday December 23.

The phenomenal Burj Dubai Tower

Whatever the reason, whether an Islamic bond or the global economy, the funding provided by Abu Dhabi has one significant purpose and that is to shore up confidence in not only Dubai but the entire Middle East block of countries.

Dubai sports city

It will be immensely damaging to the entire region if one of its members defaults on repaying interest on debt never mind the capital sum borrowed. A severe knock to ones reputation is of greater significance than any actual reality.

Dubai rotating hotel

Lehman Brothers discovered this when they had to close their doors on facing irreparable damage to their reputation. And casting ones mind even further back the demise of Arthur Anderson was such an instance too.

Dubai's man made Palm Islands

Abu Dhabi had to face the fact that it needed to fight for the reputation of the UAE as well as the entire Middle East Region. It’s a heavy responsibility to carry, but regrettably this Emirate has little choice in the matter. The consequences to the region of allowing Dubai to falter would be a hugely damaging blow from which the region might not recover for many years.

Just before Christmas scores of people feel compelled to write lengthy articles, present lectures, compile videos for YouTube and in general create hot air about the topic of excessive Christmas gift buying.

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Some pontificate about this subject throwing clever economic theories about and others tug at emotional strings while further proponents try to reason that Christmas gifts are a waste of money because most people hate the ones they get.

They certainly have a point. The shopping malls hum at their busiest just after Christmas when people come in to exchange their unwanted gifts.

So why do it?

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Easy answer really. It’s all about guilt. Parents showering their children with gifts do this because they feel guilty that they don’t show their love and caring enough. Adult children give gifts to parents because they feel guilty that they don’t show their love and caring enough. Husbands give their wives gifts because… You get the drift of the argument here.

If this is the reason for the excessive gift season, how did it get so out of hand? Enter the advertising industry whose reason for existence is to ensure their clients sell more and more products.

Holidays based on emotional reasons such as Christmas, Valentine’s Day, Father and Mother’s Day, Teacher’s Day and most other man made public holidays are an advertising executive’s wet dream.
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Emotions and message. They work so well together. If you love your kids, parents, friends, auntie and any other folk you can think of then you have to buy that latest game, just launched designer label perfume, bit of jewelery or that cute little Ferrari.

The bigger the purchase the more perfect is your love. Not always of course. Sometimes   it’s the latest toy that causes the most obsessive gift purchasing quest. Many parents have felt compelled to shred their nerves chasing around the shopping malls to find that last Nintendo game, most recent Bratz doll or zebra striped iPod.

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For many businesses this period of gift feeding frenzy is the main income generating quarter. This is what keeps them going. Sure there are other times during the 12 month trading period where the flat-lining turnover figures show a blip of life, but it’s the Christmas trading period that provides the bulk of their trade.

Florists have a similar love relationship with Valentine’s Day. And chocolate manufacturers have jumped on the bandwagon of Easter for their rush of income. So why should shopping malls not similarly pursue the Xmas dollar.

That’s exactly what shopping malls are doing with great gusto. How else would it be possible for you to find the biggest decorated Christmas tree in an Arab country? And have you noticed how early in the year those Christmas decorations are put up and the cheesy jingles are played? October already.

In the end it’s truly a win-win situation. Business makes its money. Human beings get to calm their guilt feelings about how the stress and busyness of their lives forces them to neglect their friends and family during the year.  It’s a season of goodwill to all folk all round.

What is your take on this seasonal topic?