October 30, 2014

U.S. Jobless Rate Declines to 7.8 Percent

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The U.S. jobless rate fell unexpectedly last month, adding an estimated 114,000 workers according to the U.S. Department of Labor. But experts are not heralding a rebound for the economy. Small business owners, entrepreneurs, and many self-employed may be taking matters into their own hands, unable or unwilling to return to a full-time position with another company. We’re interested to know whether your business is hiring or planning on doing so in the near future. Let’s start a discussion in the comment area after this roundup!

Ups and Downs

An unexpected surprise. Experts are reluctant to call the lower than expected jobless rate a sign of robust recovery, and as we’ll see later, some of the numbers may be including workers who have given up on seeking a full-time position in another company. Regardless of the reason, increased disposable income could also be good news for entrepreneurs. Bloomberg

So what does it mean? While some have claimed political motivations behind the recent jobless decrease, any inaccuracy in the numbers is more likely due to errors in the way data is collected for the estimate, writes Scott Shane, Professor of Entrepreneurial Studies at Case Western Reserve University. The economy is certainly not robust, but as we’ll see, some tough entrepreneurs are ready to weather the storm. Small Business Trends

The New Normal

Declaration of independents. A growing number of “independent” workers, including many younger professionals, are opting not to return to traditional jobs once the economy rebounds. A recent study by MBO Partners claims many are opting for independent employment, essentially self-employment, due to difficulties with traditional career paths, but the study could also indicate there will be more entrepreneurs in the future. Web.com

Everything in moderation. One place work-at-home business people are building new careers and businesses is in the forum and online community moderator market, according to guest blogger Stacy Pulliam. Forums and online communities continue to expand on the Web, representing almost every field or interest. If you have a particular expertise, find a community fitting your niche. The Work at Home Woman

Start Me Up

A Website of your own. Another option is to start your own business, and an online business offers the least capital intensive option to launch a venture of your own. But don’t make the mistake of rushing into it without a plan, blogs Kelly Fitzsimmons. Like any other business, an online venture requires a solid strategy, so here are some things to do first. Build Your Own Online Business

Back to Basics

Insuring the future. No matter what kind of small business you create, some basic requirements need to be considered. You must arrange for low cost small business insurance for example, to protect you and your business as it grows. Fortunately, options exist, and in this post, guest blogger Carrie Johnson lays out some of the basics. Small Biz Diamonds

Preparing for the inevitable. Another consideration for all businesses is tax time at the end of the year, and perhaps quarterly reporting, depending upon earnings. The best way to prepare for taxes, even in a small business, is to plan way ahead. Here are some suggestions from blogger Miranda Marquit. Planting Money Seeds

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