Is It Time to Change Your Career?

by birtanpublished on September 2, 2020

What i hold in my hands right here is the unemployment rate of different industries in june of 2020 and the reason why this is important is to look at which industries took the biggest hit from coronavirus and i'm going to

Explain to why this matters to you and your sanity and your future well-being but before i do it let's talk about a couple different things here together number one we all know at this point 55

Million americans lost their jobs to coronavirus number two reports just came back yesterday that the u.s gdp dropped 32.9 percent let me say this one more time

U.s gdp in second quarter lost 32.9 that's like a company's revenue dropping 33 which is scary but it's a country which is even scarier so now we know that data i'm gonna give

You the unemployment data of the different industries here but let's go a little bit deeper is it fair to say that in the future there's going to be more pandemics that we know nothing

About is it fair to say that in the future there's going to be more viruses that we know nothing about i mean if we've had ebola mers sars now coronavirus for you know all these

Different kind of fluids that came up we know nothing about it is it fair to say that based on what cdc and these experts keep telling us like voucher that the average coron average vaccine takes around 12 to 24

Months of testing until we feel comfortable to be able to give it to people yes 12 to 24 months which means what the next time there's a pandemic the next time there's a virus that we know

Nothing about there's going to be a president either democratic republican or third party that has to make a decision whether to shut down or not and no matter what party he is from if

He's republican the republican party is going to say the last president shut it down and he got everybody to wear masks social distancing and we got people to not go to school kids didn't

Go to school and most people stayed home right if it's a democratic president the republicans are going to pressure to say you better shut down because president trump shut down china and

You're not doing your part right and look how many people's lives and the fear of not getting reelected that person is gonna have to do what same thing so this playbook is officially here to stay

If you know what i'm talking about it ain't going away right okay let's say you and i agree on this if we do the next time it happens again do you want to have another fresh start what do you mean pat let me explain to

What i mean by this if you were in a certain industry you took a big hit you're not to blame because who the hell was under the impression that we're gonna have a pandemic and we're gonna be told to not

Go to kids cannot go to school and shut down industries you and i didn't know that we've never been through this before this was the first time but if it happens a second time around

And you stay in an industry that took the mat took a massive hit then it's your fault first timer not your fault second time around it is your fault so let's go through some of these industries

The industry that took the biggest hit okay june over june last year unemployment june of 2020 unemployment of june of 2019 leisure and hospitality's unemployment rate is

29 is the highest in any industry i was in vegas last week the place was shut down it was people were there walking around but it wasn't the same i kept asking all

The employees we went to mgm grand arena we're negotiating a possible two-year contract how was the situation what happened we've had to let go of everybody nobody's been working

It's scary people are leaving one of our person that was there her boss committed suicide literally last month married commit suicide because of the pressure of what's going on and leisure and hospitality

29 unemployment by the way last year same time the industry was only five percent unemployment then it's mining uh oil and gas extraction is 17.8 percent then it's transportation utilities 12.9 by the way

Last year transportation utilities was four point one percent then it's in formation twelve percent then it's total eleven point two percent of these industries then it's wholesale retail and trade

Eleven point two percent last year was four percent then it's construction which is 10.1 percent last year was 3.2 percent then it's manufacturing 9.1 percent then it's education and health health

Services 8.6 then his personal business service is 8.6 percent then it's self-employed unincorporated and unpaid family workers 8.1 percent then government workers 7.3 percent then

Agriculture 5.4 you know what the lowest one is 5.1 financial activities financial services last year was 1.7 the lowest was financial services financial activities

Why why these industries why are some of them taking big hits and not the other ones okay let me set this part aside so for you you may be watching this saying well pat man i'm in i'm in hospital management

I'm making six figures what do i do you better start making some adjustments you better start making some adjustments because that business model ain't going away these hospitals and these hotels and

You know convention and all this other stuff i'm doing business with them i'm gonna be doing business with them for a long time but as a career you have to figure out a way to position yourself for your

Pandemic proof by the way i'm not telling you everybody's leaving that industry i guarantee you most people don't like change most people like to stick to the same

Thing most people don't want to even see any kind of change because as we get older as you get older the hardest thing to do is change you become this person that just kind of wants everything

To be the same you don't want that but that's also a scary place to be but if you look at these stats and you don't go study how they took big kids why they took big kids

And how long it's going to take for them to recover and you keep staying in that industry and it happens to you again five ten years from now you can be upset at the government

You can't be upset at the economy you can't be upset at a virus the only person you can be upset about is your decision i chose a certain industry i chose insurance and financial services

When i chose that industry over other industries i was studying health and nutrition i was studying selling pharmaceutical sales because i wanted to go work for a pfizer company and sell pharmaceutical

Sales i knew it was going to be sales for me i was studying mortgages i was studying property and casualty i was studying every single thing to see what was good for me to go into i

Chose specifically insurance i used to be a stock broker financial advisor i chose insurance for a specific reason for me i did not know that insurance could be sold through

Zoom i wasn't aware of that so i'm not here bragging myself saying you know i did a great job i made the right decision i chose the reasons of this industry for a different reason

But then once i got in and the pandemic took place we realized very quickly 95 of all our sales are not through zoom it's not face to face anymore it's all zoom so you got to ask is your business model something that

Can be accommodated with zoom meaning if you're a pilot if you're a somebody in the travel industry can somebody travel telep you know teleport to a different

Place it's not here yet so what's going to be your solution what are you going to be doing you have to start thinking about that because there's nothing worse than being in an industry that keeps

Taking a hit keeps taking a hit keeps taking ahead keeps taking a hit and you have to have a fresh start oh my god everything's going good boom oh my god everything's going good

Boom oh my god everything's good good now you may watch this and pat i disagree with you i think the next time there's a pandemic the world's not going to respond the same way as we did this time i think

Next time we have a virus you america is not going to respond to a discipline that's your choice that's your risk my play thinking like a general in the military

Is i sit there and i say the odds of that happen and again is this and the odds are being pressured to respond to the way we were this time is this if that happens what's my next five

Moves then i make my decision but you'll have to make your own decision as well so having said that if you want to get deeper into this topic i had to sit down with daniel de martino which is a fed insider she used to work

For the federal reserve of dallas for nine years and she's a pretty well-known economist everybody knows who she is in the financial industry we took this topic and we went very deep

Into this topic and if you've not watched that interview click here to watch the interview and if you have watched the interview comment below and let me know your thoughts about

Today's video with different industries and how could affect your industry having said that have a great week everybody take care bye you

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