តើ​វិបត្តិ​កអាវ​ស​មើលទៅ​ដូច​ម្តេច​ក្នុង​ឆ្នាំ​២០២៣? តើ​ឧស្សាហកម្ម​ណា​ខ្លះ​នៅ​លើ​ដី​រង្គោះរង្គើ?

ការយកសំខាន់ៗ

• Some experts are predicting that a white collar recession is in the cards for 2023.
• A wave of layoffs has already hit the tech industry, but other industries are also at risk.
• White collar workers can prepare by cutting costs, boosting savings, and dusting off their resumes.

Recent economic turbulence has led to growing recession fears. Although we aren’t technically in a recession, many households are feeling the pinch of a tighter economy.

As more households resort to living paycheck-to-paycheck, the threat of a white collar recession makes these workers particularly likely to be worried about their household finances.

Let’s explore what a white collar recession might look like in 2023 and what you can do to prepare your household for the times ahead.

Why Could a White Collar Recession Be Looming?

The economy has felt like a rollercoaster ride lately. Although there is plenty of bad news, some economic indicators are flashing positive signs.

The conflicting information has kept the economy out of a recession. According to the ការិយាល័យជាតិស្រាវជ្រាវសេដ្ឋកិច្ច។, the latest recession occurred in February 2020.

A recession has economic risks, including high interest rates, political instability, and high inflation. In past recessions, blue-collar workers tended to get hit hardest by tight economic times.

សាកល្បងអំពីកញ្ចប់អតិផរណារបស់ Q.ai | Q.ai - ក្រុមហ៊ុន Forbes

However, many predict that white collar workers will feel the strain of an economic downturn in the upcoming recession more acutely. This is because white collar jobs are easier to downsize now than in the past.

A major component of a ការធ្លាក់ចុះនៃកអាវពណ៌ស is that technology has improved to the point where it’s allowing for the replacement of various jobs. We are seeing this more in white collar jobs than blue-collar ones right now.

A key technological advance impacting this is artificial intelligence (AI). AI is starting to automate things from content creation to financial advice and more, allowing companies to cut costs by relying on AI instead of large staff rosters.

Which White Collar Workers Are Most at Risk?

After the pandemic, the so-called Great Resignation pushed numerous companies to boost their hiring efforts. Many of those new hires were of the white collar variety.

Unfortunately, in the rush to hire more workers, some companies may have hired more employees than they needed. When the economy took a turn, many companies started instituting layoffs.

Tech Employees

នេះ ឧស្សាហកម្មបច្ចេកវិទ្យា seems most at risk for turbulence during the potentially dark economic storm on the horizon. In fact, the bad times have already arrived for a wide swath of tech companies.

Here’s a look at some of the companies that have already instituted sweeping layoffs for white collar workers:

• Meta: Meta let go of 11,000 employees in November, representing the largest workforce change for any company in 2022.
• Amazon: Amazon let go of 10,000 employees, representing 3% of the company’s workforce.
• Booking.com: Booking.com let go of 25% of its workforce, which equals 4,375 employees.
• Twitter: After Elon Musk took control of the company, Twitter laid off 50% of its workforce.

This is just a small sample of the white collar workers in the tech industry who have lost their jobs. When looking at these numbers, it seems that the economic winter has already arrived for some white collar workers.

Entertainment Industry Workers

As consumers reduce their spending, some of the first places they start making cuts are non-essential purchases. White collar workers in the entertainment industry may end up impacted by a recession.

For example, Adam Aron, the CEO of AMC, announced he wanted the AMC’s board to implement a pay freeze for him in 2023. He also requested top executives in the company follow suit as the company continues to struggle due to issues exacerbated by the pandemic.

Financial Services Employees

With more startup financial tech companies relying on ក្លែងបន្លំ to help their customers build portfolios and manage their finances, white collar workers in the financial industry have reason to be concerned.

Combining this with the fact that people are likely to take fewer risks with their money during a recession and might not be investing as much, financial services employees are justified in being concerned about the stability of their jobs.

How to Prepare for a Recession

The economy cannot be stabilized by any individual investor or employee. Instead, the macroeconomic factors at play are leading us toward a recession. While you cannot prevent the storm, you can prepare your household for a relatively smooth sail through troubled waters.

If you are concerned about the economy, the likelihood of a layoff might be at the top of your list of worries. Luckily, there are steps you can take to protect your household from the financial fallout of a layoff.

Beef Up Your Savings

Regardless of the economy, an emergency fund is a critical safety net. Many experts recommend tucking between three to six months of expenses away.

However, even saving a few hundred dollars could make a big difference. If you face a layoff, your household will have time to figure out a new income stream.

កាត់ថ្លៃដើម

Although there is a limit to the expenses you can cut from your budget, cutting back now can help you increase your safety net. Get creative when looking for expenses to cut from your budget.

Some ideas include couponing, thrift store shopping, and canceling subscriptions.

រៀនជំនាញថ្មី។

As the economy changes, proficiency in a wide range of skills can help you bring in income. Look into learning new skills that have an increasing demand in the workforce.

You can take a college course or use free classes online to increase your knowledge base.

Importantly, adding skills to your repertoire that would be difficult to replace with AI is important. Anything creative-based that a computer would struggle to do is worth considering.

ធ្វើបច្ចុប្បន្នភាពប្រវត្តិរូបសង្ខេបរបស់អ្នក

If you haven’t updated your resume in a while, now is the time to do so. Add your recent work experience and accomplishments, focusing on numbers and actual data you can share to highlight your contributions.

Making sure your resume is ready to go now can help you hit the ground running if you need to start looking for a new job.

How to Invest During a Recession

Whether or not you are a white collar worker, the potential recession may impact your investment portfolio. The stock market will likely see significant impacts as companies change their workforces.

As an investor in a turbulent market, keeping an eye on the changing market conditions can help you keep your investment portfolio in line with your goals. Unfortunately, most investors don’t have the time or energy to monitor the constantly changing market.

The good news is that you can use artificial intelligence (AI) to stay on top of market changes through Q.ai. Q.ai’s Investment Kits update each week based on changing market conditions.

One investment kit option is the កញ្ចប់អតិផរណា. It will make appropriate adjustments based on changes to the inflationary environment to ensure your portfolio handles any economic swings.

ល្អបំផុតអ្នកអាចធ្វើឱ្យសកម្ម ការការពារផលប័ត្រ នៅពេលណាមួយដើម្បីការពារប្រាក់ចំណេញរបស់អ្នក និងកាត់បន្ថយការខាតបង់របស់អ្នក មិនថាអ្នកវិនិយោគក្នុងឧស្សាហកម្មអ្វីនោះទេ។

បន្ទាត់ខាងក្រោម

While we cannot predict with certainty if or when a white collar recession will hit, there are ways to safeguard your income and your investments.

Take these steps today to ensure you weather any future financial storms with minimal damage to your financial health.

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