economic crisis unemployment rate
Tuesday, February 9th, 2010
economic crisis unemployment rate
Janitorial Supplies Vs Economic Crisis
Threw all the hard economical times janitorial supplies remains to stand strong threw all the hardships. The demand for janitorial supplies is growing stronger everyday even with the economy at its all time low. With the marketplace in shambles and unemployment rate being so high it’s hard to believe that janitorial supply companies are still generating good revenue. U.S. demand for janitorial equipment and supplies (excluding chemical products) is forecast to rise 3.4% annual through 2009, reaching $6.4 billion, according to a new study from The Freedonia Group. The well-developed office buildings market will remain the largest segment of this industry. However, industrial and residential markets will experience the fastest growth based on the relatively low penetration of contract cleaning service firms. Growth in nonresidential floor space is also expected to be relatively steady through the next decade, aiding gains in the cleaning services and supplies industry.
Despite market maturity, the supplies sector will benefit from a push for higher quality standards in building maintenance and a continued focus on indoor air quality, as well as ergonomics. Automated floor cleaning equipment will experience the best growth due to a higher level of product differentiation and upgrading potential compared to manual cleaning products. Demand for other janitorial supplies, including manual floor cleaning products, trash bags and waste containers, sponges and dustcloths will be limited by their commodity-like nature, although such products will continue to be virtually indispensable components of the expanding janitorial industry.
There are many ways of finding the right janitorial supply company for you or your business. You can always look in your local phone book or the internet. I always suggest if you find a company do some research on the company before just pulling out your credit card. You can Google the name of the company and see what kind of reviews they might have or any customer reviews that might have been posted on the internet. Janitorial supplies are very high in demand and a very profitable business, even with the economy at an all time low. You see everyone needs these janitorial products to up keep their business and to keep it clean. It doesn’t matter want kind of business you’re running you have to keep it clean and tidy. You might need your floors wax every two weeks or carpet cleaned and your walls dusted (you get my point). So you see you can’t run a company without your local janitor and your janitor is going to need his janitorial supplies.
Maintaining the clean appearance of a property is essential for the satisfaction of both the people working in the facility and those visiting it. Employees take pride in a nice work environment, and as a result, productivity often increases. Visitors and customers will be fast to leave an untidy facility, and they will most likely hesitate to return.
About the Author
Are there any similarities between the Great Depression and the current U.S. economic crisis?
I’m looking for stuff like unemployment rate, how people adapted, etc
The Great Depression started with an almost benign recession which turned into the Great Depression as a result of a misguided government policy of the Hoover administration: after the economy went into a recession triggered by the stock market crash in 1929, taxes were increased to 50% with the goal to reduce the budget deficit, and even worse, the money supply was allowed to decline by 31% between 1929 and 1933, nothing was done to stop the panic and loss of confidence caused by bank failures, and protectionist measures were introduced to protect the domestic economy (Hawley-Smoot Tariff Act). These policies transformed the recession into the Great Depression. Another major factor which directly contributed to the Great Depression was the fact that the currencies were backed by gold. This Gold Standard set a serious constraint on the government’s ability to pump desperately needed liquidity into the market to ensure that credit markets would continue to function.
Today’s crisis has its roots in the sub-prime mortgage markets: mortgages were issued to lenders which could not possibly repay such loans; for example, the so called ‘Ninja Loans’: No Income, No Job, No Assets (!) These mortgages were then transformed into tradable debt instruments and rated by rating agencies which were paid by the issuer of the instruments and had therefore an incentive to overrate the quality of these debts. During all this time the US Federal Reserve Bank kept the interest rates low which made it easy even for weak borrowers to pay the interest on their mortgages. When the interest rates finally started to rise, the whole system collapsed.
The borrowers could no longer afford to pay the interest on their mortgage, their houses were sold below the value of the mortgage on the property, pushing the real estate prices down. Banks and financial institutions suffered massive losses on their mortgage portfolio and had to stop lending money to the economy. This turned out to be so bad that the government had to intervene to recapitalize the banks. As a result of the banks being unable to lend, there was less cash in the economy, consumers and companies could no longer spend as much, resulting in the current recession.
If you look to compare statistics between the two, this is a useful start:
http://www.voxeu.org/index.php?q=node/3421
http://www.visualizingeconomics.com/2009/07/27/unemployment-great-depression-vs-great-recession/
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