We’re in the final stretch of 2018, and for many businesses, it has been a record-breaking year. A strengthening economy and low unemployment means many companies and job seekers alike have a lot to be thankful for this year.
In December 2017, we asked readers about their business predictions for 2018. The vast majority (59%) of respondents said they expected to see “moderate growth” and 23% were even more optimistic and said they would see “exponential growth.” Only 2% said they expected a decrease in business activity.
So, what’s on the horizon for 2019? Will your business continue the upward trend? Or do you predict a slowdown? Let us know by voting in our poll.
Employment will take a slight downturn as capex spending is reigned in by tightened money supply/higher interest rates. We have seen this movie before.
Additionally, a certain percentage of the labor force, feeling tired and depressed about stagnant wages, will opt out of overtime to spend more quality time with people who matter to them.
Middle managers will suffer the most. As automated equipment begins to replace job tasks that are easy to roboticize, technicians will replace the middle manager role in some cases. This will become a trend over the next decade.
With the next phase of the embargo being put on hold until March 2019, it is somewhat hard to predict what type of growth we will have. As for this year in the bike / sports industry, growth did not come as expected, and many smaller brick and mortar stores have either closed or on the verge of closing. Sales were down compared to 2017, and all bike manufacturers are trying to find a way to get out of the slump.
This has been a stellar year for transportation companies (carriers have noted that they have not seen this much freight as far back as 10 years ago) to the point that major carriers had to put a limit as to how much freight they could handle, since many major trucking companies were being flooded with freight. Container companies have seen a surge of imported materials into the United States, as well as other countries, and Exporting goods out of the U.S. is doing well. Transportation experts have noted that they do not see an end in sight, but once it reaches its pinnacle, and things slow down, there is talk of a recession that will bring some of the manufacturing industries that are riding high, scrambling to keep afloat. With all of this, it is hard to predict how 2019 will come out in the end, which makes it hard to predict how many people will be needed in the work force, since it all could slow down if the embargo does go into affect,it will put a cost increase of most of the goods coming into the U.S. by 25%.