Career Change As The Economy Improves Albeit Slowly

Economists predict that it is new small and medium sized businesses including start ups that will pull the UK out of the economic downturn. Officially, the UK is no longer in recession as growth is at 0.3% for the last quarter. This year, 500,000 new businesses have been created so far, many of them by women entrepreneurs for their new career. Unemployment fell in the UK by 5,000 in the first quarter of 2013 while the number of people in work increased by 24,000.

Mervyn King, the governor of the Bank of England recently commented that the UK was showing stronger growth than expected.  The outlook for the UK economy had improved with growth likely to reach 0.5% in the second quarter of 2013, adding to the 0.3% in the first quarter, giving an overall 1% rise of this year.

Writing in Personnel Today last month, John Eccleston argued that the improving UK economy will lead to an exodus of talent. As the employment situation perks up, employee turnover is likely to increase. Employee retention will become increasingly important as talented but dissatisfied workers take flight. There is already a shortage in the UK of people with science and technology based skills. For career changers this environment is helpful.

In the US, the second quarter is showing uninspiring economic figures suggesting the economic recovery remains fragile. However, the Labor Department reported that 175,000 new jobs were added in May and the unemployment rate reached 7.5% from 7.4% in April. Unemployment is predicted to fall during 2013 and will average approximately 9.1% for this year.

Bloomberg reports that “service industries are holding up as the nation’s factories struggle”. Despite the second quarter slowdown, service industries are have been expanding at a faster rate in May. The labor market and the housing recovery are likely to stabilize overall economic slowdown in the US and the economic future looks bright.

All this is good news for career changers. As unemployment decreases and the economy improves, there will be greater flexibility and movement in employment.  Now is a great time to consider the career you want to change to.  Many people who dislike their current jobs or dread Monday mornings are not clear what their next career will be.  A career coach can help you gain the clarity, motivation and support you need to get your ideal career. Are you ready to take action?

For my support, contact me at Ghazala@careerchangeat40.com or give me a call. Together we will transform your career and hence your whole life.

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