Take a Step Back into the World of Finance
Tags: Accounting, Financial Planning, Wealth, Investment, Finance

Inside what we know as every day life, there is constant change that leaves many with uncertainty. Through the rising of inflation, the high deficit of American trade/shortages and the hope of success within future bills, we are constantly on our toes for what is next. While we face much chaos, there is hope for recovery in our country. Recent news shows us a deeper look into the studies from economists and the overall picture our president has for the future.

Increase within Shop Sales in October

In recent events there have been great increases within sales for small businesses. Thanks to the upcoming holidays, these small shops have seen more purchases in toys and clothing since the start of the pandemic. according to the Office for National Statistics, this increase arose by 0.8%, the highest level they have seen in over two years. With this rise, companies are finding hope from their previous financial struggles from the past circumstances of Covid-19. If you own a small business, consider this year a success as you go about the upcoming holiday season.

Inflation surge

While this increase has helped these small corporations, there is also a huge dent from the recent rise in inflation. Unfortunately, we are seeing a steady increase that may continue uneasiness within our country. This period of waiting for difference may hurt us more than we recognize. The current surge of inflation is at a “31-year high, up 6.2% in the last year”, according to the Labor Department. “Supply-chain snags and a labor shortage are among the contributors.” However, President Biden hopes to see change from the awaited $1.75 trillion bill to pass Congress by Thanksgiving. Should this change be successful, our president expects the country to become more of a “stable-ground” for its citizens.

Worker Shortages Giving a Helping Hand to Students.

Worker shortages have been a consistent issue for businesses across America. Already having to face the recent consistency of supply chain shortages, corporations are also struggling to find those willing to work. While this is a serious problem, businesses are finding a light at the end of the tunnel. From a recent posting by the SHRM, “there are 9.5 million people classified as unemployed and looking for work, and 9.2 million job openings.” With these openings, there is a wide array of opportunities for upcoming college graduates. Now more than ever, students are given a great opening towards employment. Having almost 500,000 graduates in 2022, we can actually expect an increase within workers.

Build Back Better Plan

A recent plan given by the president is in effect to subdue this recent rise in inflation. As we previously stated, this is the highest we have seen its outcome. By applying this bill, Biden intends to deliver help within communities that are struggling deeply. Specifically within the homes of middle-class Americans. Should this pass through Congress, the bill could easily provide help within school funding, prescription drug costs, as well as the affordability of housing. This would give many across the country the opportunity to catch their breath in such financially precedented times. This, paired with the hopeful uprise in workers, should help many in our country find a peace of mind.

What Can We Look Forward To?

Daily we find new and exciting research that shows beneficial growth towards the success of this country. While we currently face shortages across America, we know that there is truly a light at the end of the tunnel. News is changing consistently, prices and products are fluctuating, but our country and world are working hard to solve the problems we currently face. Success is in the works for Americans all across the globe.