Just when you think you’ve got this economy thing all figured out, along comes another report that flips the bird back at you and lets you know this recession isn’t over yet.
Shortly after publishing yesterday’s edition of Hutch’s Blog, which dealt with the improving attitude of the Canadian golf industry towards the economy based on the current GNN Poll, the latest American jobless figures were released and it wasn’t pretty.
The report said the U.S. lost 467,000 jobs, much more than anticipated, and the unemployment rate edged up to 9.5 per cent from 9.4 per cent in May, causing more concern about the rate of recovery down south.
Before you say it, you are correct in pointing out that those scary figures are American numbers, but let’s admit it, the mood in the U.S. has a direct impact on Canada, be it through manufacturing, tourism and other aspects of our economy.
One of the major aspects of the Canadian economy that was hit by yesterday’s news was the price of oil as crude fell $2.58 cents to $66.73 a barrel, representing a 3.7 per cent drop. Gas prices were expected to drop significantly overnight.
So, if you want to look at the bright side of things, people may be tempted to travel a little farther to play golf and your operational costs will ease for now.
Why not look on the bright side which, as yesterday’s blog pointed out, people in the golf industry are doing nowadays, compared to back in December shortly after the recession hit here in Canada.
In times like these, it’s common to get your hopes up only to crash with another gloomy report such as yesterday’s bad news. It’s how you deal with the bad news that’s important and, from the results coming in to our poll on the GNN home page, there are still very few people wanting to hide under the bed.
We all work in a game that is very much like the economy right now. If we get too down about a bogey, we lose sight of the fact that one good shot may put an eagle or birdie on our scorecard and we’re in the same shape or better than we were before.
The same holds true for the economy. If we’re stressing about yesterday’s report, it might cloud the fact that our investments are now in better shape than they were six months ago because the stock market has been surging in recent months.
All we can do really is concentrate on our own businesses and only you can judge if you’re up, down or status quo in your corner of the golf industry. Jobless figures are beyond your control, so why stress?
We’re going to leave the current GNN Poll up for the weekend, but I don’t expect it to change at all. The industry has a good attitude going into the second half of 2009 and, despite the gloomy jobless figures from the U.S., yesterday’s blog was entirely appropriate.
A MILESTONE BLOG: As I was about to post this edition of Hutch’s Blog, I noticed that this is a milestone in the history of Golf News Now, which first launched on Sept. 15. This blog is the 500th story posted on GNN in just over nine months of operation.