baloon.jpgThere’s been a bunch of news that doesn’t bode well for employees of all levels.

The service sector, which includes everything from hotels to your local hair salon, is showing signs of serious weakness. The Institute for Supply Management reported its service sector index fell to 41.9 in January from 54.5 in December — the biggest drop in a decade.

Typically, in an okay economy, the service sector continues to thrive because most people don’t cut back on things like shopping for clothing or eating out. But when you have companies that provide such services saying they expect to cut back on purchases, which is what the Institute’s study found, that means consumers aren’t doing their part by spending, spending, spending.

So, that means, service sector employers, everything from retailers to banks, will have to cut back on, what else? Workers. And in the service sector, you will probably see those rank and file jobs disappear first.
But management is not immune. In another ominous sign, Macy’s announced today it was cutting 2,300 management jobs.

Now is a good time to pick your head up and look beyond your cubicle and assess where you think your employer is in this economic mix. Does it seem your bosses are putting money into the business and looking to grow? Or, have you noticed that the office manager isn’t replenishing pens lately?

I’m not saying anyone should panic, but you need to know what’s going on around you so you can be in control of your career’s future.

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