Credello: The Feds Say Unemployment Will Rise Soon. Who Will Lose Their Jobs First?
The Fed is the Federal Reserve System. It's the central banking system the U.S. implemented in 1913. It exists to provide some degree of centralized control over the American economy.
The Fed can't completely control every aspect of the economy, but certain moves that it makes can help regulate and sometimes prevent significant economic changes. Right now, the Fed is predicting that unemployment is going to rise in the near future.
You might not be thrilled to hear that. However, before you look into debt consolidation while unemployed, take some time to read about which professions are liable to start shedding jobs and which ones should remain relatively stable.
Why is Unemployment Going to Rise Soon?
Part of what the Fed does is combat inflation. Inflation means that the average cost of goods and services is rising. That has been happening at an accelerated rate in recent months due to several domestic and international factors.
The Fed can fight inflation by instituting a rate increase that impacts anyone who wants to borrow money from banks and other traditional lending entities. In theory, that means individuals will be more reluctant to borrow and spend money, and the economy will slow. In time, this forces entities that sell products and services to reduce their prices.
Unfortunately, this action also means some companies will not have as much demand for labor. When that happens, layoffs inevitably follow. That's why, when the Fed says it's going to hike interest rates for borrowers, you will also nearly always see the unemployment rate rise.
What Industries Will Shed Jobs the Fastest?
There's no reason for panic, though, since not all industries will shed jobs at the same rate. Certain recession-proof or nearly recession-proof niches will probably not shed any jobs at all.
Right now, the unemployment rate is about 3.7%. When you look at the nation's history, that's pretty good. The Fed feels that once it sets its rate hikes in motion, the number of unemployed individuals should swell to about 4.4% at this time next year.
That's not ideal, but it's still nowhere near the unemployment rates accompanying major recessions or economic downturns. Historically, those who lose their jobs the most when these downturns occur are less-educated workers. That is because their jobs are seen as more expendable than better-paying ones.
When you think about those most likely to lose their jobs in the coming year, you can probably include food service industry workers and construction workers. Undocumented workers are less likely to find steady work since some employers are already paying them off the books.
You might also see stores getting rid of cashiers, stockers, dishwashers, or any other positions they feel aren't as essential to the company's continued success. During economic downturns, when companies feel the need to make sacrifices to protect their bottom line, they'll often scale back the number of workers on staff and give those who remain more responsibilities.
What Will This Mean for You?
What higher unemployment numbers mean for you will depend largely on what kind of job you have. The Fed adjusting rates typically has a ripple effect on the economy.
Even if you're not going to lose your job, you might see companies tighten the purse strings however they can. That might mean your boss won't give you the raise that you expected or an increase in your paid vacation days.
Undocumented workers, stockers, clerks, cashiers, construction workers, and similar jobs may dwindle in the coming year. If you work at any of these jobs, you may need to consider a backup plan if your company elects to cut your hours or eliminate your position. If you work in a field like education, healthcare, or transportation, you're probably safe.
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Keyonda Goosby
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Carolina d'Arbelles-Valle
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Original Source: Credello: The Feds Say Unemployment Will Rise Soon. Who Will Lose Their Jobs First?
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Onelife Fitness Acquires Gold’s Gym in Woodstock, Georgia, Expanding to 14 Locations in the...
MCLEAN, Va. - November 1, 2022 - (Newswire.com)
US Fitness Holdings, LLC announced today that it has entered into a definitive agreement to acquire the Gold's Gym located at 301 Gold Creek Trail in Woodstock, Georgia. The 69,000-square-foot sports club, accessible from Alabama Road immediately west of Highway 92, will be converted to a Onelife Fitness sports club over the coming months.
The gym's current members will be welcomed into the Onelife membership community and given full access to Onelife's 14 locations in the greater Atlanta region. As part of the conversion plan, Onelife Fitness intends to retain existing staff and will invest $1.5 million to improve the facility's amenities and increase benefits to current and future members. When the transaction is completed, Onelife will manage 51 fitness clubs in the company's portfolio, with another five scheduled to open in 2023.
"Onelife's commitment to fitness, community, and accessibility continues with our acquisition of Gold's Gym in Woodstock," said Ori Gorfine. "Members will be granted multi-club access to all Onelife Fitness locations in the market, and we are thrilled to extend ourselves in Woodstock, which is already surrounded by several successful Onelife clubs. More than ever, we need to focus on both mental and physical well-being, and this investment confirms Onelife's commitment to providing a variety of fitness options at an affordable price, giving everyone the opportunity to stay active, build community and meet their fitness goals."
In addition to cosmetic changes, the club will undergo a $1.5 million renovation with new equipment that Onelife Fitness members have come to enjoy from our facilities, including:
- Top-of-the-line cardio and strength equipment;
- Large functional athletic turf training areas;
- State-of-the-art spin studio;
- Three boutique studios featuring Onelife Signature Classes, BodyPump, Zumba, APEX-HIIT, Spark and more;
- Mind/Body Studio featuring Barre, Yoga and Pilates classes;
- Olympic lifting platforms;
- Kids Club with interactive activities and outdoor play area;
- Recovery Studio with HydroMassage; and
- Luxurious spa-inspired locker rooms, sauna, and more!
Our commitment to the highest standards includes cleanliness and Onelife will install the latest AirPHX air and surface disinfectant system in the club that is installed in all of its other Onelife locations. The AirPHX air filtration system works 24 hours around the clock disinfecting and sanitizing the air, equipment, and surfaces all around the club.
Onelife Fitness is the best value in fitness providing an award-winning design and amenity package at incredibly affordable rates. This is the 14th Onelife Fitness location in the Atlanta region, continuing our ongoing commitment to investing in the community's health and fitness needs.
To learn more about the club, visit http://www.onelifefitness.com/gyms/woodstock or call 678-445-9140.
To learn more about career opportunities at US Fitness, please visit www.usfitnesscareers.com/.
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Nancy Terry
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Original Source: Onelife Fitness Acquires Gold's Gym in Woodstock, Georgia, Expanding to 14 Locations in the Atlanta Region
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Kirk Rich Dial Co. Reveals New Dial Refinishing Lab is Now Fully Operational
RANCHO CUCAMONGA, Calif. - November 1, 2022 - (Newswire.com)
As the leading name in the dial industry, Kirk Rich Dial Co. has revealed that its new Dial Refinishing Lab is now fully operational, following the announcement of its formal partnership with My Jewelry Repair. With the support of My Jewelry Repair's facility design expertise, this Lab has been upgraded to the premier standards of the renowned Watch Repair Service Center. These improvements to the new Dial Refinishing Lab will uphold the mission of elevating the craft of dial refinishing and continue the company's history of providing the best restorations in the industry.
Since 1926, Kirk Rich Dial Co. has been servicing the dial refinishing trade for customers in the United States. The company has been the leading name in dial restoration services and is respected globally due to its exquisite handcrafted designs and highest of standards. This attention to detail of watch manufacturing is parallel to prestigious watch brands such as Rolex, Omega, Richemont Group, and more.
Dial refinishing is a rare art form that only the elite can perform, and Kirk Rich Dial Co. wants to be able to provide only the best for the best. Clients can continue to be assured that their watch dial will be handled by the company's skillful dial refinishers in a premier environment.
This facility was specifically designed for dial refinishing with equipment such as top-of-the-line workbenches, state-of-the-art refinishing tools, an extensive collection of dies, and lighting technology to provide the most optimal conditions to work with. Possibly the best example of the specialization in this lab is the incorporation of equipment up to a century in age, to authentically replicate vintage finishes such as the popular sunray dial pattern.
Today, Kirk Rich Dial Co. customers can visit the company's website and create an order with My Jewelry Repair to receive authorized dial restoration services in the fully operational Dial Refinishing Lab.
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Juan Mendoza
Marketing
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(909) 828-5022
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Original Source: Kirk Rich Dial Co. Reveals New Dial Refinishing Lab is Now Fully Operational