A year ago this week, things looked very bleak across the board. The rapid spread of Coronavirus was upending the U.S. economy, shuttering businesses, schools, and our normal lives as we knew them. It’s no longer useful to look back and revisit the questions we once asked of ourselves. Could we get a handle on the transmission of this global virus? Was there a cure at all? What would happen to all the businesses and employees cut down in Covid’s wake?
What a difference a year makes.
It’s truly incredible to measure the amount of progress and success we’ve seen in the past year. Thanks to bold initiatives like Operation Warp Speed, we developed multiple vaccines and began immunizing the public. Thanks to swift government action, countless thousands of businesses were saved through the PPP loan program. There may have been hitches along the way, but from where we stand 365 days later, it’s clear we have much to be optimistic about.
U.S. Economic Outlook
A year ago this week, unemployment had risen to 14.7%, a double-digit jump over the previous month and the highest increase in the history of tracking jobless claims. Not only have we brought that number back down to 6.9%, but just last month, U.S. Treasury Secretary Janet Yellen stated the following:
“I am confident that people will reach the other side of this pandemic with the foundations of their lives intact. And I believe they will be met there by a growing economy. In fact, I think we may see a return to full employment next year.”
Full employment by 2020? That’s indicative of a red-hot economic recovery we could never have imagined. All around, it seems there’s good news to share. There are a rising number of housing starts, a sharp increase in real estate equity, and a booming U.S. manufacturing industry that can’t find enough labor to fill job openings. If we continue on the predicted path to full economic recovery, there’s going to be a lot of pent-up demand for discretionary spending. America’s post-Covid outlook appears unstoppable. The key question is…what are you going to do about it?
If the past year was spent reflecting on your situation, your job, your career path, and how you either are—or aren’t—living the life you intended, it may be time to consider an entrepreneurial journey. And business ownership through franchising offers an advantageous path to becoming your own boss.
It appears the time to be bold is at hand. Do you have the enthusiasm to match the circumstances that surround you? FranNet would like to know, as we’re ready for an onslaught of budding entrepreneurs who want to take control of their lives, experience more flexibility and freedom, and maintain control over their income potential.
We can help you get there. Take that first step and set up a no-cost, no-obligation meeting with one of FranNet’s qualified consultants who both live and work where you do. Together, we can explore an unstoppable future for you.