Jobs and wages need a major boost! Though I shared in part 3 of this four part series, jobs creation increased by 261,000 last month dropping the unemployment rate to its lowest level since December 2000 at only 4.1%.
Unfortunately, most of that job creation was in the service sector. For example, two of the fastest growing American job categories are only paying about $22,000 per year. The Bureau of Labor Statistics predicts that in the next ten years there will be 1.2 million new jobs for home health and personal care workers.
As a result, a lot more needs to be done to create high paying work especially R&D (research and development), scientific, engineering, IT (information technology), technical and manufacturing employment, which my recruiting firm specializes in.
3 Entrepreneur & Small Business Solutions For Job And Wages Growth
Entrepreneurship is still alive and well in America. Furthermore, statistics from both the Labor Department and the Small Business Administration confirm that most of the net new jobs created over the past several decades have been recruited by smaller, entrepreneurial firms.
Therefore, a lot more needs to be done to cultivate entrepreneurship. One solution is expanding successful established programs like SCORE. For over 50 years, Service Corps of Retired Executives or SCORE (a nonprofit association headquartered in Herndon, VA. And supported by the U.S. Small Business Administration, SBA, and with 300 chapters across the U.S.) has provided inexpensive mentors, tools and workshops dedicated to helping small businesses get off the ground, grow and achieve their goals through education and mentorship.
A second solution is reformulating government efforts to help and NOT hurt entrepreneurs. For example, lower taxes and reduced government regulations to encourage entrepreneurship.
Finally, much more needs to be done to improve our country’s STEM education programs because tomorrow’s engineers, scientists and technical talent will create future technology businesses that will recruit the most jobs and highest wages for our country!
Case in point: 8 Growing Small businesses Recruiting Jobs
Eight new startups prove that you don’t need to invent something new to succeed. You only have to make things better.
Foodietrip the “Airbnb of food trips” now has tours and culinary experiences in more than 100 cities around the globe. They match people looking for food tours with hosts for tastings around the globe.
The Gadget Flow has the largest product search engine with 25 million visits per month. They feature both established products and cutting-edge products not available elsewhere.
COSIGN is a handy app that lets you click on clothing and other objects on a friend’s photo on Instagram, Facebook or Pinterest. Then both: a) presents a short list of places from which to buy those items and b) pays you commissions when someone buys off your social media feed.
GlobalVcard allows companies to move from an antiquated paper check payment system to digital ones globally.
Uptake, which was started by Groupon co-founder Brad Keywell, is focused on helping the transportation, manufacturing and construction industries enhance performance with data. They have already raised $145 million and are adding jobs quickly!
Pindrop offers services to identify and neutralize phone calls that are trying to steal someone’s identity. Three major banks have recruited their services to flag phone numbers and provide notification if that number may be a scam.
Nowait provides an app that allows people to virtually stand in line at a restaurant. They have partnered with Yelp and Carnegie Mellon Ventures to reduce your actual dining waiting time.
Bellhops offers local college students to move your stuff. They use algorithms to determine how to make the most efficient and affordable move. Everything is handled online.
In Summary: Entrepreneurs and Small Businesses Create Jobs!
Instead of focusing on the old ways of doing things, like paying huge ransoms to attract established businesses, governments should focus on time proven strategies to grow entrepreneurial ventures. Over the past several decades, these small businesses have grown the fastest recruiting the most employment!
To that end, proven programs like SCORE need to be expanded. Additionally, things that hinder entrepreneurship, like higher taxes and more regulations, need to be eliminated. Finally, more efforts need to be employed for recruiting of better STEM teachers and programs. The results will be exponentially higher wages and more jobs for U.S. workers!
