I’ve always wanted to use that expression, and our current economic conditions give me the perfect opportunity to use it. 😊
For most of 2023, the economic news has been fairly negative. Interest rates spiked, inflation rose, layoffs began to occur across many sectors, consumer confidence sank, and fear was rampant – which only makes things worse. The many years of an economic boom seemed to stall, and the speed with which things changed for the worse was head-spinning.
The spike in interest rates came at an alarming rate, which really seemed to spook consumers and consumerism on both the business and personal fronts. So many clients earlier in the year were chiming in unison, “We’re going to hold off for now, but please check with us in a few weeks.” Well, that has happened, and fortunately, things appear to be going in the right direction.
In our industry, specifically my staffing agency, I’ve been telling my team that 2023 was the Summer that wasn’t, the Fall that was, and that 2024 will be the year of ‘we’ll see’. But positive signs abound. We are experiencing an uptick in orders for temp-to-hire workers in both light industrial and admin positions, wages are high, clients are renewing their hiring, and the fear gripping so many of our clients seems to have been replaced with guarded optimism for a better year to come.
Clearly, it’s too early to rejoice, but we can at least take a breath in that things seem to be leveling off if not improving across the many client sectors we deal with. And as I mentioned in my article last month, this might have triggered a greater sense of understanding in those seeking employment that they need to bring their A-game, as mediocrity isn’t getting you hired in this current market. This is a good thing for businesses to build up their long-term staff of core employees. Perhaps that’s a silver lining that will stick, but these things are cyclical.
So, as we begin to close out this very strange year, it is my belief that we can look forward to a more promising year in 2024. In some ways the fear that spooked us all might have served as a wake-up call to be grateful for the good times we had been enjoying for such a sustained period prior to this scare.
In this instance, I truly believe that we are heading for the light at the end of the tunnel and that it is not an oncoming train. We’re not out of the woods, but as the stock market seems to be saying of late, the future looks bright.
