Wednesday, May 13, 2020
What will the stimulus do for white collar unemployed
What will the stimulus do for white collar unemployed How is this rebuilding of roadsand infrastructureprojects going to help the thousands of unemployed investment bankers, mid managers, and others? Really great question. I think it is the trickle up theory. Repairing of roads and new construction efforts will require: Laborers Materials (lumber, equipment tools) These laborers will have money to buy food, gas, personal items and who knows what else. The lumber mills and steel manufacturing plants will need more widgets to keep their equipment running in tip top shape (Good news for all the widget makers in the US). They will also need to hire more people to run their machines. This might mean more HR help or accounting help to manage payroll. They might also need buyers to source raw materials at the best prices (a savvy investment banker could transition into a buyer with a little work) So now we have added money to the economy in: Retail services (food, clothing, maybe even new vehicles) Accounting/HR staff Lumber mills and manufacturing Suppliers to the mills and manufacturers and eventually their suppliers Banks will begin seeing more money deposited and this should generally help them stabilize. Green Jobs will also be on the rise through the investment of funds. Thiscan createthe same type of trickle up effect. Who knows what other new types of green job opportunities might come out of this. Know one knows for sure if this will work, but one thing is for sure. Re-invention and open-mindednessare crucial to our personal success. Start reading about the projects going on in your area and begin brainstorming what services or products might be needed to support them. Team up with others and create opportunities that might not exist. Put a new spin on the old ways of doing things. For more information on the The American Recovery and Reinvestment Act, visit their (our) website here. For NY States plan, see this link.
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