Marketing Yourself
A. External Influences
1. The area I am currently studying in is accounting, but more specifically, I am working my way towards a Chartered Accountant title.
2. Economic Factors and Trends
A couple of years back, as the economy was weakening, the unemployment rate was increasing. In 2009, in Canada, the unemployment rate hit above 8.5%.Since then, the unemployment rate has slowly decreased, and today it is at 7.6%. A high unemployment rate triggers consumers not to spend money, therefore, leading companies to lay off employees. The accounting industry has an unemployment rate of 2% [http://www.jobwings.com/en/job-advice/accounting-jobs/key-numbers/unemployment-rate-finance-and-accounting-sector , May 12th 2011]. If unemployment rate remains constant or continues to decrease, future accountants will not have the fear of being laid off.
Unemployment was the effect of the recession. Recession is “a period of economic activity during which income, production, and employment fall. This shrinks buying power, which in turn reduces demand for goods and services” (Marketing Yourself, 2011, Chapter 3). We are currently recovering from the recession, offering us job opportunities. If the economy improves, consumers’ buying power will recover and the accounting industry will have many new job offerings.
“The GDP is the total value of goods and services produced in a country annually” (Marketing Yourself, 2011, Chapter 3). When the GDP per capita is high, the consumer’s buying power is higher. The greater the buying power, the greater the demand for goods and services. Higher demand for goods and services reduces the risk of unemployment. Since 2010, the GDP has been growing. If it continues to grow or remains constant, there will be many job offerings.
3. Social and Demographic Trends
With the baby boomers retiring, there will be many new opportunities for accountants. New companies will enter the market and as they are growing, they will need someone to take care of
1. The area I am currently studying in is accounting, but more specifically, I am working my way towards a Chartered Accountant title.
2. Economic Factors and Trends
A couple of years back, as the economy was weakening, the unemployment rate was increasing. In 2009, in Canada, the unemployment rate hit above 8.5%.Since then, the unemployment rate has slowly decreased, and today it is at 7.6%. A high unemployment rate triggers consumers not to spend money, therefore, leading companies to lay off employees. The accounting industry has an unemployment rate of 2% [http://www.jobwings.com/en/job-advice/accounting-jobs/key-numbers/unemployment-rate-finance-and-accounting-sector , May 12th 2011]. If unemployment rate remains constant or continues to decrease, future accountants will not have the fear of being laid off.
Unemployment was the effect of the recession. Recession is “a period of economic activity during which income, production, and employment fall. This shrinks buying power, which in turn reduces demand for goods and services” (Marketing Yourself, 2011, Chapter 3). We are currently recovering from the recession, offering us job opportunities. If the economy improves, consumers’ buying power will recover and the accounting industry will have many new job offerings.
“The GDP is the total value of goods and services produced in a country annually” (Marketing Yourself, 2011, Chapter 3). When the GDP per capita is high, the consumer’s buying power is higher. The greater the buying power, the greater the demand for goods and services. Higher demand for goods and services reduces the risk of unemployment. Since 2010, the GDP has been growing. If it continues to grow or remains constant, there will be many job offerings.
3. Social and Demographic Trends
With the baby boomers retiring, there will be many new opportunities for accountants. New companies will enter the market and as they are growing, they will need someone to take care of