It will not have passed anyone by, that the economy is going to be put under considerable strain in the coming months, and potentially longer, as a result of the COVID 19 Crisis.
This post discusses what that might look like, and goes on to suggest a method to hedge against, what is an almost inevitable outcome of the rising numbers of COVID 19 affected cases in the country.
While the figures I am discussing here relate to New Zealand, the basic principles will apply in whatever country, in which you may be reading this post. The opportunity offered in this post is accessible, and wholly applicable, worldwide.
The unemployment rate in New Zealand dropped at the end of the March quarter from 4.3 to 4.2% against an underlying trend of a generally rising rate of unemployment.
Forecast Pre COVID 19
New Zealand’s Unemployment Rate was being forecast to be 4.481 % in Dec 2020 Which was an increase from the previously forecast report of 4.336 % in Dec 2019. In the same report New Zealand’s unemployment rate was projected to stand at 4.485 % by Dec 2024.
Clearly things have changed; the potential lay-offs expected in Air New Zealand alone would be enough to ‘blow these figures out of the water’. Westpac economists have suggested that there will be a GDP decline of 3.1 per cent across the next three quarters of the year with a corresponding rise in unemployment from 4% to 5.5% which would see 45,000 people out of work. My feeling is that this is optimistic, though I hope that my feeling is quite wrong.
If New Zealand follows the route taken by other countries which have experienced significant community outbreaks then, like the UK, Italy and others, we will be closing all hospitality businesses; pubs, cafes and restaurants, bowling alleys and the like. Municipal facilities will follow soon after or simultaneously; libraries, museums, swimming pools, public state owned attractions. Already sporting venues have closed our borders have closed to tourists, our second biggest GDP earner after agricultural exports.
Only this morning I was a little shocked to find that my Saturday morning routine
of, meet a friend for breakfast, at a local restaurant, and then go to the street market, for fresh vegetables and flowers for the wife, ended at meet a friend for breakfast. The market was nowhere to be seen!
My suspicion is that when the totality of these measure come into place, unemployment will pass that 5.5% level fairly quickly, and by the end of the year it would not at all surprise me if we were to be experiencing unemployment in double figures.
Everyone is going to see a drop in revenue, even online business will suffer a drop because disposable income will become constrained and the knock on effect to purchasing behaviour is restraint.
That said there will still be people with money who will be keen to spend it on all manner of goods and services.
These people will, because of the restrictions on movement and the slowing of internal physical trade, be looking to the internet and online channels to make those purchases from a position of safety and convenience.
Netflix already are seeing unprecedented viewing figures as self isolation and working from home practices take hold. In fact in order to lessen the strain on internet bandwidth capacity Netflix have reduced their streaming definition, serving up lower definition content in recognition of the increasing internet traffic across the globe as people pile on to social media platforms and switch their purchasing habits to online shopping.
The opportunity that is available to anyone reading this post, is to both aid in the process described above, by acting as a broker in connecting shoppers with online retailers, but also potentially helping themselves, if they find that they are already in, or in danger of becoming a member of the employment at risk category or group.
At the same time readers of this post have an opportunity to build themselves an ongoing passive income that will outlast the current crisis and potentially, subject to individual choice, present a pathway to financial freedom.
I absolutely appreciate that this will not be something that everyone will be interested in but it is something to be seriously considered when jobs become scarce, and when those that are available, become competitive to a level that effectively makes them unobtainable.
The good thing is, that it is not necessary to wait for that to happen. Anyone can start building their hedge against the threat of immediate and long term unemployment now.
All you have to do is look at the details that will be made available via the links in the next paragraph.
If you want to get ahead of the threat of unemployment and build yourself some insurance and security that could secure an income over the period of this crisis and far beyond, then you owe it to yourself to do some due diligence and take a look at what I can offer you here. This is a solution, for those who are willing to follow a training system and apply themselves with some organisation and discipline, and you can take the first steps right here from this post.
Please understand that I am not promising that anyone can replace their current income overnight, this is not some get-rich-quick scam. It requires, as expressed above, a serious business minded approach. But it is a relatively simple process which, when followed, can offer many configurations, to assemble multiple passive income streams.
This is all based on making products and services available to people via online retailers, with whom you would form well-tried and trusted partnership arrangements, all of which is taught by this first class training, support and hosting platform. The customer base is quite literally the online world!
Just to add to the good news no one is required to commit to this opportunity until they are absolutely convinced that it is something that genuinely interest them. You can have an absolutely FREE trial (we require no payment details at all) just by registering with your email address.
This will give you access to the first set of 10 online video and tutorial lessons to determine whether you want to take this further.
So are you Interested? Then be my guest and take a good look at Wealthy Affiliate.
Before you finally decide not to click on the WA link, I strongly encourage you to at least make an informed decision by taking a look at the FREE lesson package, via the Wealthy Affiliate link above. Even if you only look at the first lesson and decide it is not for you, then at least you will have more fully understood what you are potentially walking away from.
Good luck, I sincerely hope that I will be meeting many of you on the WA Platform.
P.S. If this post has inspired you to become a Blogger yourself, you can find out how to do just that, by clicking on Blogging A Business How To Go About It