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We have a whole generation of millennials and college grads who have come out of college seeing how their parents were perhaps treated in 2008 and are choosing income security over job security” by freelancing, temping and so forth. The same is increasingly true in many fields, whether you’re freelance or on the payroll.
Now let’s overlay the Bureau of Labor Statistics data on ‘Layoffs’ – the monthly rate at which organizations are dropping people from their payrolls. This does not include retirements or long-term sick leave. If you had a job in 2008, you held onto it. (note that I plotted the unemployment rate on the right-hand axis).
Revenue, net income, total expenses, and payroll costs are just a few of the items that you may be monitoring on your profit and loss statement. In the example below, this person is well on their way to retiring. Today I asked my friend Linda Siniscal talk about life beyond the profit and loss statement. Monthly Hours.
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