The Bombshell in the US July Jobs Report

August 9, 2022

Last Friday, August 5, US Jobs Report for July 2022 surprised even mainstream economists who had forecast a 250,000 increase in jobs created in the official US Labor Dept. monthly jobs report for the period ending mid-July. The numbers came in at 528,000 in the CES, large corporations survey for the month.

The unexpected large increase in jobs was jumped on by Biden administration and business sources alike who had been arguing publicly in preceding weeks that the US economy was not in recession. How could it be a recession, when the jobs market was so robust, the argument went? Never mind the fact that the US economy measured in GDP terms contracted by -1.6% in the first quarter of 2022, followed by another -0.9% contraction in the second quarter for a combined first half, January thru June, decline of -1.3%. That was just a ‘technical’ recession, not a real one the recession deniers argued. The real declaration of a recession remains with that group of politically well connected-professional economists from elite universities who are members of the quasi-official NBER (National Bureau of Economic Research). It is they who decide whether a recession has occurred, and months after it is virtually over. The NBER experts are yet to say it’s a recession. The NBER looks at more than just GDP and that includes employment, and jobs are being created at the rate of 528,000 this past month.

Of course this argument ignores the fact that jobs are notoriously what’s called a ‘lagging indicator’ and job decline on average begins six months or later after a recession commences. It also ignores the further fact that whenever GDP has contracted two consecutive months, as recently, in all the past US recessions it has been followed by the NBER also declaring well after the fact that a recession has occurred.

But there’s a deeper problem in the view that relies on the last jobs report to argue that there’s no recession yet, notwithstanding the first half GDP contraction in the US. That problem is last week’s jobs numbers—showing 528,000 new jobs—may not be accurate. And even if it is assumed that large corporations created 528,000 jobs, as indicated in the CES (Establishment) survey of the report, the second survey in the report shows something quite opposite. That’s the CPS, or Household survey, the second survey that makes up the monthly Jobs Reports.

There’s a bombshell in the CPS survey that neither the Biden administration, the media, and most mainstream economists are conveniently ignoring—or else aren’t capable of understanding.

Here’s the basic contradiction in last week’s Jobs Report for July:

The CES Survey, which is based on about 450,000 larger enterprises reporting to the Labor Dept. every month, indicated the 528,000 ‘new’ jobs created in its B-1 Table.

But the second survey, the CPS—sometimes called the Household survey—is obtained by the Labor Dept. doing a phone survey of 50-60,000 households every month and asking them if they’re working, if unemploy3e, if out of job are if they’re still looking for one, when was the lasts time they actively searched for a job, etc. The household survey determines the unemployment rate. However, like the CES establishment survey, the CPS survey also determines a monthly level of total employment in the economy.

And the CPS survey reveals something quite different, even contradictory, to the 528,000 jobs gained in July in the CES survey lasts month. The CPS’s Table A-8 shows a decline in total non-agricultural jobs from June to July of –112,000. Moreover, the CPS total employment numbers show an even further fall in total employment since May 2022 thru July 2022 of -181,000.

So what’s going on? What’s the correct number of employment gains in July? Is it the CES establishment survey of 528,000 new jobs in July? Or is it the CPS survey, indicating -112,000 fewer net jobs?

Never has the gap between the two surveys that constitute the monthly Labor Dept. Jobs Reports been larger. But you’d never know it listening to the mainstream media or the politicians.

There’s a saying that ‘the truth is always in the details’ and that’s never truer than when considering government statistics—especially employment stats but wages and inflation as well.

And there’s a ‘bombshell’ group of stats within the CPS survey that strongly suggest the US labor market has hit a wall since May and is actually beginning to soften quickly—a trend that will likely accelerate in coming months.

And if the CPS is more accurate, and the jobs market is actually not robust but is softening, then perhaps recession is actually here now. And there’s another implication: if the Federal Reserve focuses on the 528,000 number and continues to accelerate its interest rate hikes at 75 basis points again next month (and again thereafter), it will only accelerate the recession that has begun and cause it to go deeper than it already has.

What then is the ‘bombshell’?

In Table A-8 in the CPS survey there’s a category that measures the number of part time jobs created the past month. It shows that no fewer than 800,000 part time jobs were filled during July—300,000 involuntarily (i.e. workers forced to work part time when they wanted full time work) and another 500,000 part time jobs created voluntarily (i.e. workers chose to work part time).

If 800,000 part time jobs were created, how does one get ‘only’ 528,000? It might logically mean that 275,000 or so full time workers ‘lost’ their jobs. Or maybe some of the 275,000 lost their jobs outright but some of that number found their full time jobs reduced to part time. If the latter case, then the average number of hours worked should also show a decline in July. But it didn’t. The average hours worked per week remained at 34.6 as it had in June. And in manufacturing, where typically more overtime hours are worked, it remained stable month to month as well, at 40.4 hours/week. In other words, it doesn’t appear likely that the majority of the 275,000 jobs difference (i.e. 800,000 minus 528,000) is attributable to full time workers previously being reduced to part time hours.

Another possible explanation of the discrepancy is that many of the 528,000 new jobs were actually new part time jobs created in July. The Labor Dept does not differentiate between a new job that’s full time and one that’s part time. A new job is a new job. It counts both part time and full time as just ‘a job’.

That many of the 528,000 are likely ‘part time new’ is supported by the job gains in July in those industries that notoriously hire only part timers. There were 74,000 net jobs created in bars and restaurant employment, for example. 22,000 in retail sales. Another 22,000 in hotels, accommodations and entertainment—all notorious for hiring only part timers. Even manufacturing in recent decades has hired an increasing number of part time and temp workers. It too added 30,000 last month.

How many of the 528,000 CES survey July jobs were part time is unfortunately not specifically identified by the monthly Jobs Reports. One must infer from data provided in other Tables in the CPS survey, as we’ve just done. It’s not specific, but it suggests the number is probably quite large.

But it could also be that the 528,000 is composed almost entirely of part time job creation. If so, the full time employment must have risen very little in July. But full time employment not only did not rise in July over June. It actually declined. CPS Table A-9, for example, shows 132,577 full time jobs in July down from 132,648 in June—a decline of 71,000. And the decline is even greater from May: 223,000 fewer full time jobs in July compared to last May.

So full time jobs are actually declining in recent months while part time jobs rose in July by 800,000. It’s therefore likely that the 528,000 CES survey rise in jobs in July is overwhelmingly composed of part time jobs.

And here’s a corroborating further statistic for this assumption in the CPS survey. It involves the number of jobs that are 2^nd and even 3^rd jobs. The category of ‘Multiple Job Holders’ in CPS Table A-9 shows a consistent sharp rise in multiple job holders in recent months and over the past year for that matter. Multiple jobs mean virtually all part time jobs (except perhaps for a full time job held over a weekend in addition to a M-F full time, but those numbers are low). Multiple jobs rose by 92,000 in July over June and by 331,000 since May. And from July 2021 to July 2022, the increase in multiple (2^nd, 3^rd) jobs was 549,000.

In other words, hundreds of thousands of the job gains in recent months do not represent formerly unemployed workers returning to the workforce and getting ‘new’ jobs. They represent workers already with jobs—and increasingly those with only part time jobs—taking on new, additional part time jobs. Many of the 800,000 part time jobs in July were thus workers taking on 2^nd and 3^rd jobs, at least 71,000 per Table A-9.

It’s important to understand that the monthly Jobs Reports do NOT represent workers finding work for the first time—either after being unemployed, or re-entering the labor force, or entering it for the first time. The Jobs Reports report Jobs created, not employment per se.

Summary

We can summarize these alternative statistics from the Labor Department’s CPS survey that contradict its CES survey’s 528,000 new jobs assumption in July as follows:

The CES survey picks up raw jobs data from larger enterprises but misses job trends in the small-medium businesses in which trends are more volatile and downturns (and upturns) in job creation often shift and precede trends in larger establishments
The CPS survey breaks out diverging trends in part time vs. full time work in more detail as well as part time that reflects multiple jobs vs. single held jobs (either full or part time)
The CPS shows slowing and evening declining job creation for full time work, which means less total wages for millions of workers compared to if they were full time.
Slowing to declining full time employment (CPS) amidst rising part time and multiple job holding means employers are hiring more cautiously, preferring part timers in case they have to soon lay off workers as recession deepens
The part time and multiple job trends are a ‘canary in the employment coal mine’, signaling a slowing in hiring overall that will soon spill over to the CES survey. It does not reflect a robust labor market ‘on fire’ in terms of hiring and economic growth.
Workers are taking on more part time and 2^nd jobs because they probably can’t find decent paying full time jobs offered by companies.
All the media talk about 11 million jobs out there that workers won’t take does not account for the likelihood these are mostly not full time and are insufficient part time paid jobs.
All the hype about workers’ quit rates being so high is probably representative of workers quitting poorly paid part time jobs and seeking and getting other better paid part time work (or less dropping out of the workforce because they can’t find something better, which is also rising)

This scenario of the US jobs market does not support the view that the US economy is booming due to the large number of jobs created per the CES survey. The Fed, therefore, by accelerating its rate hikes is doing the opposite of what it should.

Other labor statistics corroborate the view that the labor market is hitting a kind of wall this summer 2022. Look at the labor force participation rate statistic, which is also slowly declining in recent months. Or the rising number of people surveyed who indicate ‘Not in the Labor Force’. Or the numbers of the unincorporated self-employed (i.e mostly independent contractor very small businesses) dropping (taking part time jobs or dropping out?).

It is true that the numbers of employed rose significantly from the spring of 2021 to March 2022. That was due to the economy ‘opening up’ after vaccines became widely available after the worst of Covid in spring 2021. About 6 million jobs were added. But this were not jobs that were ‘created’, as the politicians like to say. These were jobs that were ‘restored’ after the Covid shutdown. How many actual net new created jobs out of that total are likely not many.

Now that the ‘restored’ jobs have been maximized, the US economy appears unable now, going forward, to actual create net new jobs—except perhaps to some extent as part time work, which always rises sharply at the end of a business cycle when it enters a recession period. As the recession deepens, part timers are first laid off. Conversely, in early phases of recovery from recession, businesses typically hire more temps as they test the water whether a recovery is truly underway.

The dynamic of the relationship between full time hiring, part time and temp hiring over a business cycle is poorly understood by most economists. However, one thing is clear: the US economy is already in recession in early stages as the data in the CPS survey Tables, A-8 and A-9, shows. These tables reflect the deeper job trends—not the CES Table B-1.

By the politicians and media—and the Fed—focusing on the CES survey’s 528,000 jobs they are about to miss—and in the case of the Fed exacerbate—the recession that’s already begun and, in turn, fall behind the curve. Of course, that’s nothing new for the Fed.

By the late fourth quarter 2022 the ‘bombshell’ embedded within the CPS data will have ‘gone off’. The jobs market will no longer lag and the recession will be blatantly obvious. The Fed will have to abruptly halt accelerating its rate hike policy. And the NBER will have to agree after the fact that the so-called ‘technical recession’ that arrived in the first half of 2022 did indeed signal the US economy had entered recession.

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About the Author

Dr. Jack Rasmus is the author of ’The Scourge of Neoliberalism: US Economic Policy from Reagan to Trump, Clarity Press, January 2020. He blogs at jackrasmus.com and hosts the weekly radio show, Alternative Visions on the Progressive Radio Network on Fridays at 2pm est. His twitter handle is @drjackrasmus.

7 Ways You Can Use the Experience of an eCommerce Agency to Benefit your Online Business

August 9, 2022

EcomSellerTools

In today’s business world, marketing activities take place primarily online. Ecommerce marketing can be described as raising awareness and directing consumers to a company that sells its product or service via an online website. The main point is to allow potential customers to find you easily at any time. Developing and managing the digital marketing strategy of your e-commerce business is a tall order.

That’s why many eCommerce businesses look for professional agencies like EcomSellerTools for a viable digital branding strategy. Many innovative agencies around the world strive to offer the best strategies to their clients.

Regardless of your current marketing techniques, the following are some additional advantages of working with an e-commerce marketing agency.

1. Experience speaks louder

Accomplished eCommerce marketing agencies have worked with countless businesses in many different industries. Their teams know which audience is interested in which trends, and they know what’s effective and what’s not for different industries. The consultants and agencies are experienced enough to give you a broad perspective with which to strategize. They control the dynamics in the e-commerce business market and can help in increasing the sales of your online store.

Thanks to the experience, eCommerce marketing agencies like EcomSellerTools

have come up with new strategies or easily spot your eCommerce marketing mistakes and make an effort to fix them in real-time.

2. Apply flexible marketing strategies

The digital world is changing very rapidly and not catering to the technical advancement can lead to blunders in the business. It’s not easy to keep up with these trends with your internal team as they have many other responsibilities for your e-commerce business. However, e-commerce marketing companies constantly keep up to date with updates and the latest marketing tools as part of their work.

E-commerce marketing agencies can help you with changing market trends and new marketing techniques. It will be extremely beneficial for your online store to work according to the skillset and help your business dominate the market.

3. Adaptation to the latest market technologies

To grow your online store and increase sales, you undoubtedly have to rely on technology – although it pays off quite well, it takes money, time and effort to keep your business with the new trends and latest developments. Hiring an e-commerce marketing agency has a major advantage here.

These agencies also have experts who possess knowledge of using different types of software, so they can quickly serve your business. In addition to their technological facilities, e-commerce marketing agencies can save you the burden of implementing and testing new products. Using new tools for your business has been made easier with the support of EcomSellerTools. You can save time instead of trying to train your internal team to use a new product or service.

4. Cost-effective services

Working with a marketing agency has become more affordable. They have all the resources and expertise that can help you in lowering the cost. In this ever-changing digital world, requiring your internal team to constantly follow the latest and best practices can be quite expensive.

You have to invest heavily in your employees to provide them with the training needed to use the software and other tools. It is not convenient when you think about their salaries, benefits and additional costs. What is an additional cost to you is exactly the work description for an eCommerce marketing agency team. It is an economical option when you consider every small detail.

Conclusion

The e-commerce business market is very competitive because it is expanding and changing all the time. You can only have a strong position in the market if you choose the right marketing tools and the right team to support your business.

Managing e-commerce marketing isn’t difficult when you trust a team of experts. Working with an agency like EcomSellerTools to develop your strategy represents an irreplaceable saving of time and energy.

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How Decentralized Cryptocurrency Exchange Works?

August 8, 2022

The word that has changed the meaning of currency and has taken it into another proportion is Cryptocurrency. A cryptocurrency is a virtual or digital currency that anyone can buy for a specific purpose. Secured by cryptography, this virtual currency is impossible to double-spend or replicate.

When it comes to cryptocurrency exchange, it can be done in two ways which are: 1. Centralized Exchanges (CEXs) and Decentralized Exchanges (DEXs). Though the CEXs are the more popular ones for crypto exchanges, Decentralized Crypto exchanges are now getting more preference because of their benefits and smooth process. The process of how decentralized exchange works is now attracting many traders and users to DEXs; let’s understand why.

What Do You Mean by Decentralized Crypto Exchanges?

Decentralized Crypto Exchanges or DEXs is a virtual crypto exchange platform where cryptocurrency traders (both buyers and sellers) exchange their assets. The thing that distinguishes DEXs from CEXs is that traders can make transactions directly to an intermediary or custodian without handing over the management of their funds.

The transaction agreements in this exchange are done through self-executing agreements, which are written in codes. These codes are also known as smart codes and are challenging to crack. That means you get a better and safe transaction process.

How Decentralized Exchange Works?

A few years back, no one would have thought that cryptocurrency exchange would be a trouble-free and modern way to exchange crypto. This platform allows users to handle their crypto funds and does not have a third-party interface as well.

In the absence of intermediaries, DEXs work on a non-custodial structure. In other words, we can say that in DEXs, traders retain the custody of their crypto and are responsible for their wallets and other private keys on their own.

How Decentralized Cryptocurrency Exchange Works:

During a crypto exchange, a token owner places the order to exchange his/her asset with the other available trader on DEXs. The owner specifies all the basic details like the number of units, the exchange token’s cost, and the time duration for the bid.
Once the owner sets all the information, the bidders can set their bids by singling a buy order.
After the set time is finished, both the parties review the bid and execute the trading.

And that’s how decentralized exchange works, seems easy right?

The Traditional Decentralized Exchanges

There have been multiple generations of Decentralized exchanges for years, as mentioned below:

1. Decentralized Exchange (Order Books)

This traditional way of decentralized crypto exchange uses order books for buying and selling assets like the old conventional ways. The order book consists of a record of open buying and selling orders for assets. The spread between the asset prices prevails the depth of the order book and the current market price.

In these exchanges, all the information is held on-chain during trading while the funds and assets are kept off-chain in the wallet.

2. Decentralized Exchanges (Swaps)

Another form of Decentralized exchange does not involve ordering books to ease the trading process and setting prices. Unlike order books, it uses liquidity pool protocols to allocate asset pricing. In other words, the exchange platform works on trading with users’ wallets through a swap process between two traders.

This category has put its place in Total Value Locked (TVL). Examples of this type of DEXs are 1inch Exchange and DiversiFi.

What is The Difference Between Centralized and Decentralized Crypto Exchange

Following are the key points on how decentralized exchange differs from centralized crypto exchange:

	Centralized Crypto Exchange	Decentralized Crypto Exchange
1.	The traditional way of crypto exchange that involves intermediary between two traders,	A modernized way for crypto exchange with direct traders with no intermediary.
2.	The control is in the hand of the platform as it involves an official management.	The control is in the hand of the user only.
3.	The centralized crypto exchanges charge fees for carrying out the trading.	There are no fees for trading in decentralized exchanges.
4	Uses written formats for clear information.	Involves smart codes which are hard to hack.

Get The Best Crypto Exchange Development Services

Cryptocurrency has taken a massive hype in the world of trading and investment. Even in the most competitive market scenarios, its potential makes people believe in it. After a tremendous change in the market’s financial system to return financial power to people, cryptocurrency is at a boom to set a new and modern financial paradigm.

And with the ever-increasing demand for crypto, the demand for crypto exchange software is also increasing rapidly if you are evolving or establishing an organization in the world of finance, set up the crypto exchange development with the best crypto exchange development services for you.

At Appinop Technologies, we excel in on-demand crypto exchange development services for every business that wishes to inherit a crypto exchange with industry-leading features, impenetrable security, and a meticulously designed user interface.

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The Realities Of Being A Modern-Day Energy Retailer

August 8, 2022

Retail energy providers or energy retailers offer users to purchase utilities at rates cheaper than their existing energy supplier. There is no doubt that energy retailers mediate the procurement of affordable energy. Besides providing cheaper energy, there is so much more than most people don’t know about retail energy providers. Let’s explore some facts about energy retailers and their line of work, so you know everything related to retail energy providers.

Facilitating the Market and Compliance

Modern-day energy retail is fully equipped with resources to expand its operations. If you understand what an energy retailer is, then this article talks about how to become an energy retailer in order to help you better understand what you need for the job. Whether they have a customer base of a few thousand or millions, the retailer continually works on processes and systems to support the growing number of users. Energy retailers will either provide a retail rate or a flat rate.

Some energy retailers are even focusing on renewable energy sources to provide more affordable rates. The procurement rate of the utilities for a retailer depends on whether they own power generation assets and their ability to manage market risk. Energy retailers take responsibility for any deferred payments from consumers and make payments to the relevant contractors. Putting their credibility and resources on the line to facilitate the market participants ensures market compliance.

Responsibilities of an Energy Retailer

Besides providing basic utilities at affordable rates, the energy ensures the staff is providing the required support to customers, manages the product team, and is responsible for managing the supply chain. Being an energy retailer is a lucrative career with a promising future. Dedicating time to research and understanding each aspect of an energy retailer will surely be of great help when looking for answers. Conversely, you also need to understand the realities of an energy retailer to get the complete picture. Taking care of finances and legal compliance are some other responsibilities the retailer has to fulfill.

The Involved Risks

There is indeed a market risk involved in the energy supplier business as the retailer provides a fixed cost for utilities while signing a procurement agreement for utilities at variable costs. Failing to comply with the life support obligations and the required standards of customer care can make or break an energy retailer. Reviewing the regulations set by authorities and fulfilling them can mitigate a lot of risks involved in running the business. An energy retailer takes on all these risks and provides utilities at competitive rates for consumers and industries.

Qualities of an Energy Supplier

To become trustworthy to customers among stiff competition, energy retailers have to maintain certain quality standards. First and foremost, consumers want to confirm whether the company they are conducting business with is legitimate. Never hesitate to share the relevant licenses for customer satisfaction. Providing competitive rates and quality services are some other qualities that customers anticipate in a trustworthy energy supplier.

The energy supply model is effective in not only facilitating consumers but also supporting the energy sector by acting as a responsible participant. The future for energy supply companies looks bright as newer power generation and supply modes are rising. We hope you become well-informed about energy retailers, their line of work, and how they play their part in customer facilitation by providing affordable energy.

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Trending Products to Sell Online: 2023 Predictions

August 8, 2022

If you own an e-commerce store, you’re likely researching, learning, and preparing yourself continuously. But even with devotion, it can be difficult to identify the most popular products to sell and bring about success. Consumer tendencies are changing quickly and trending items seem to rotate even faster, especially during the last few years. But to ensure e-commerce success, you will have to select the most high-demand solutions. To help you out in this process, here are some predictions for the trendiest products you can sell online in 2023:

Vinyl records

While many of us thought that digital solutions are the only way to move forward, younger generations proved us wrong. Vinyl records are back in style once again, gaining prominence for their unique sound and interesting aesthetics. In fact, vinyls were among the best-performing products this year, with indie retailers selling nearly half of their entire vinyl collections. Evidently, records represent a great opportunity for online shops, whether you decide to resell newly released and popular albums or rare vintage tracks. If you’d like to expand your offerings, related items such as headphones and record players will likely perform well next year also.

Cleaning supplies

Household cleaning supplies grew immensely in 2020, a trend that only continued to rise in the following years, showing no signs of stopping. Actually, the global cleaning supply market is expected to surpass $320 billion in value by 2028. This is one trending product category you shouldn’t miss out on. You can choose universal cleaners or products for specific surfaces, but make sure to offer more natural and eco-friendly solutions, as well as sustainable accessories. The cleaning supply market is incredibly competitive, meaning you have to think ahead and offer products that follow more than one rising trend.

Dinnerware

Although this may come as a surprise to many, dinnerware is slowly becoming an evergreen product category to sell online. It easily elevates table settings to make everyday dining more pleasant and entertaining, not to mention that it’s quite picturesque and makes for perfect images to share on social media. Dinnerware can also come in a number of different styles, from modern and classic to rustic and vintage. This means that you can attract a wide consumer base of different buyer personas by selling dinnerware online; just make sure it’s aesthetically pleasing enough to be shareable on social media as a free commercial.

Healthy supplements

As more and more individuals turn to healthy living and better nutrition, beneficial supplements slowly gain prominence. For instance, healthy protein powder has been a favourite among consumers throughout the entire year. This is likely due to the incredible benefits of protein, helping in weight loss, building muscle mass, etc. If you’re looking to sell profitable products online next year, consider supplements with similar benefits. Vitamins, minerals, and other supplements that can help to support a balanced diet and healthy nutrition are bound to be popular.

Beauty accessories

Even though the beauty industry has historically been incredibly competitive, certain products tend to pop up once in a while with high demand and low supply. Accessories such as false lashes were such items this year, increasing in popularity across e-commerce platforms. False eyelashes present a great opportunity for online marketplaces in 2023, and they can come in a wide array of options, thus providing consumers with an extensive offering. However, these products might perform better when combined with related accessories such as brushes, applicators, and adhesives, being a perfect solution for creative product bundles.

Pet products

People love their pets. The younger the generation, the more likely individuals are to treat their pets as family members, wanting to provide them with only the best. With that in mind, it truly comes as no surprise that the pet supply market is rising rapidly, projected to reach over $850 million by 2028. Pet carriers, crates, and any related accessories are particularly popular, likely due to the fact that people are allowed to travel with their pets once again. If you’d like to get into the pet carrier niche as well, consider products such as carrier backpacks, car carriers, and airline-approved carriers.

Tech accessories

The rise in remote work also gave way to some unique trends. As consumers we’re forced to begin working from home and spent most of their time online, they also felt the need to beautify their office spaces. Practicality wasn’t enough anymore; home offices had to be attractive as well to boost motivation. As a result, the popularity of mouse pads and desk mats significantly increased over the last few years. These tech accessories are chosen according to personal style and taste, helping to enhance the overall interior design. If you plan on offering these products, consider providing a wide range of colours, materials, and designs to suit any consumer.

The products listed above represent some of the trendiest items to sell in 2023, but there are plenty of other solutions you could go for, depending on the type of your e-commerce store. Keep in mind that anything can sell, as long as you invest in good marketing.

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7 E-Commerce Improvements That Will Help Bring More Revenue To Your Business

August 8, 2022

Most business owners want to see their companies grow and succeed, and one of the best ways to do this is through eCommerce. If you’re already up and running in this area, there are changes you can make that could bring in even more revenue. These activities could include using technology to boost productivity or harnessing the power of SEO. In this article, we’ll discuss 7 improvements that can generate more money for your eCommerce business.

1. Pay For Quality Web Hosting

A web hosting service provider is a business that provides the technologies and services needed for a website or webpage to be viewed on the Internet. Most small businesses don’t have their own server, so they need to pay for web hosting from an external company via invoice generator. By paying for quality web hosting, you can ensure that your website’s always available and loading quickly for your customers. This option can be costly, but it’s a necessary expense if you want to do business online.

You may wish to pursue shared web hosting if you have a small website, or a dedicated server if it’s larger. The people who opt for fully managed WooCommerce hosting demonstrate the need for dedicated hosting, management, and optimization. Businesses often want page speed optimization, PPC optimization, help with security and compliance, and 24-hour expert support.

2. Get Your Website SEO Optimized

SEO (Search Engine Optimization) is the practice of improving the ranking of your websites on search engines like Bing or Google. The higher the ranking, the more likely individuals are to find your site. In turn, you can increase your brand visibility and generate more income.

Use tools like Google AdWords Keyword Planner to research which keywords are most popular for products/services like yours. Once you know which keywords to target, create or update your website content so that it includes them. Make sure your material is well-written and informative. Finally, build up your site’s backlinks by creating quality content that other websites will want to link to.

3. Use Google Analytics

This is a free tool that allows you to track your website’s traffic and performance. By understanding how people are using your site, you can make changes that improve the user experience and increase conversions. Firstly, create an account and add the tracking code to your website. Once you have data coming in, take some time to learn about all of the different reports available. Some of the most useful ones for eCommerce businesses are the conversion reports, which show you how many people are completing your desired actions.

It’s important to continually test and optimize your site to ensure that it’s performing at its best. By using Google Analytics, you can track your progress and make data-driven decisions that’ll help bring more revenue to your company.

4. Get Active on Social Media

Social media is a great way to connect with potential and current customers, build relationships, and increase brand awareness. If you’re not already active on social media sites like Facebook, Twitter, and LinkedIn, create accounts and start posting regular updates. Engage with your followers by responding to comments and questions in a timely manner. Over time your following will increase, and you’ll be viewed as a respected authority – and people will feel confident doing business with you.

Social media can also boost your website’s SEO ranking. Finally, it’s worth checking out PPC advertising such as Facebook Ads.

5. Upgrade Your Product Descriptions And Images

Product descriptions are the written text on your website describing your products, and images are the pictures/photos of them. If they’re poor-quality, customers will be turned off and go to a competitor’s site. On the other hand, if they’re high in quality, you’ll be more likely to generate sales.

Here are a few things to keep in mind:

Use keyword-rich titles and descriptions
Make sure they’re accurate
Use multiple images if possible
Use persuasive language
Make sure your website is mobile-friendly

6. Improve The Checkout Process

This is where your customers pay for your goods or services, and it’s one of the most important parts of the eCommerce experience. If the checkout process is too long or complicated, customers will likely abandon their carts. Even if they don’t, a poor checkout experience will lead to lower satisfaction levels, and fewer returning customers.

Here are a few things to consider:

Allow customers to checkout without creating an account. This will simplify the process and make it more likely that they’ll buy.
Don’t make your customers leap through too many hoops! The fewer steps there are, the better.
Include progress indicators showing customers how far along they are in the process, so they know how much longer it’ll take.
Customers should be able to choose their shipping options.
Offer more payment options, such as PayPal and Apple Pay

7. Make Your Website Customer-Friendly

Make your eCommerce website easier to navigate. This will help improve the user experience and make it more likely for visitors to stay on your site and make a purchase. Having a search bar will allow visitors to quickly find what they’re looking for. Providing filters will give visitors the ability to narrow down their options and find the perfect product for their needs.

Some ways to use modern technology to improve the customer experience include:

Live chat: this allows customers to instantly get in touch with a customer support representative, rather than queuing for phone calls. Live chats can answer any questions the person has about your products or services.
Chatbots: they’re computer programs that can mimic human conversation. You can use them to answer common questions that customers might have, such as product availability, shipping times, and return policies.

If you put these 7 tips into action can take your eCommerce business up a level. You’ll increase your sales and profits, delight your customers and provide employment for more staff. Whilst these things inevitably involve an investment of time and money, they can pay off long term. You can establish your business, increase your market share, and focus on further expansion and growth.

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The Case For Raila Odinga As Kenya’s Next President

August 8, 2022

By Eleanor Legge-Bourke and Mario Pezzini

Kenya, East Africa’s most stable country and largest economy, and Africa’s 6th largest, will choose its next President on August 9th. According to Tifa Research, Nairobi-based pollster, the front runners were under three percentage points apart on Friday. The race is between veteran defender of multiparty democracy Raila Odinga, leading marginally with 46.7% of the votes, and the current deputy president and self-proclaimed “hustler”, William Ruto, with 44.4% of the votes. Every vote counts in this election.

Voting blue for the Azimio La Umoja coalition means addressing crucial structural economic issues in Kenya, which Odinga refers to as the “third liberation” or the “economic liberation”, as well as important political challenges.

A woman of all importance

Raila Odinga’s running mate is Martha Karua, a women’s rights campaigner, and former justice minister, known across Kenya for being a “no-nonsense woman”. Karua could become Kenya’s first female deputy president.

No strangers to fighting the good fight, namely on social justice, multiparty democracy and anti-corruption, the former political opponents had worked together on matters of national importance such as the National Accord now stand united on what good governance and good government should look like.

The Odinga team want to enforce the framework that dictates that one in three positions in elective or appointive bodies should be held by women as provided for in the Constitution (thus far ignored by male politicians despite court orders) with the view to achieving gender parity. With over half of Kenya’s population being female, the potential contribution to the economy through women empowerment alone would be an engine for growth in and of itself.

Manufacturing, manufacturing, manufacturing

Kenya, as many African countries, could become a major player in the world economy if it were not for the lack of sufficient quality jobs to absorb the rapidly growing young population. Global shocks and local climate have further exposed the fragility of the current economic structure and increased the risks of widespread social discontent and even unrest.

Azimio stresses the urgency of productive transformation. Front and central in the coalition’s programme is manufacturing. Odinga’s plan for Kenya is coherent and organic, identifying unexploited opportunities for further development of an already ebullient entrepreneurial population.

The emphasis is on specialization of communities’ local comparative advantages, by organizing production-related services as well as easier access to credit in order to scale MSMEs. When it comes to medium and large firms and Kenya’s integration in regional value chains, the plan is to have efficient and coordinated special economic zones.

Mindful financial relations

The source of financing available for Kenya is, at least in part, volatile, dependent on external financial inflows and weakened by recent global and climatic events along with the increase of interest rates and the insufficient reallocation of Special Drawing Rights by wealthy economies to contain the debt fueled by the pandemic.

Investors are scared off by international risk assessments of African economies, consistently overestimated, rarely fully reflecting the situation on the ground. Consequently, the level of investments to accelerate productive transformation and industrialization may remain insufficient.

Odinga and his Azimio coalition team is has already been working with international experts to ensure financial stability and plan a legal and financial diagnostic of debt risk to identify potential overexposure to some creditors and future investors, and to draft a medium-term debt management strategy.

Good neighbours

The global pandemic and the war in Ukraine are reshaping the geography of alliances, severely disrupting supply chains that need to be rebuilt on a different scale, often on a regional scale, which paradoxically offers the opportunity to further concentrate on rebuilding partnerships.

Odinga’s primary foreign policy focuses as much on strengthening political alliances such as the East African Community (EAC) to ensure peace and stability within the region, as on The African Continental Free Trade Area (AfCTA) that will provide more incentives for investments and better negotiation capacity internationally. The World Bank projected that if implemented correctly, AfCTA could lift some 30 million Africans out of extreme poverty, the majority of which are women.

A seasoned pan-Africanist, Odinga is well placed to champion intra-Africa trade. Former High Commissioner for Infrastructure at the African Union, he has been addressing some of the continent’s infrastructure bottlenecks and stressing the importance of collaboration within and between regional economic communities.

What’s in a name?

Odinga’s coalition, the Azimio La Umoja party literally meaning “unity” speaks volumes. Odinga has worked tirelessly to make sure history never repeats itself, forming alliances to ensure a peaceful election this round.

With some 17 out of 46 counties deemed as “volatile” according to the Institute for Security Studies, the coalition and the government aren’t leaving anything to chance. Reports from the campaign trail thus far indicate that it has been a more peaceful election.

That both candidates have chosen running mates from the Kikuyu tribe, Kenya’s largest ethnic group and that of the current President, certainly helps with votes. President Kenyatta is backing veteran opposition leader Odinga over his own deputy which bodes even better for a more peaceful election and a smooth transition.

In short, Odinga’s emphasis on gender, manufacturing, financial stability, internal and international alliances will benefit Kenya, as well as contributing to Africa’s integration and development. Which is why Raila Odinga should become the next President of Kenya.

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Why a Financial Psychic Reading Might be Right for You

August 8, 2022

When they hear the word “psychic,” most people likely think of palm readings and crystal balls and mystic nonsense that can’t possibly have anything useful to say. They might think it sounds like a fun bit of entertainment, but they would never seek out a psychic for something as practical and complicated as their financial future.

But the fact of the matter is: psychic readings are for more than just finding out who your true love might be or connecting with the spirit of a dead relative.

Much like horoscope readings and trend analysis, financial psychic readings tap into the currents of knowledge that exist just below the surface of awareness for most of the population. Things like intuition and gut instincts pull from this source of knowledge without our even realizing.

But there are experts who can tap into this awareness, like the specialists at The Relationship Psychics. A trusted psychic can read your specific financial story as it is currently developing and put that knowledge in conjunction with the financial trends of the larger economy to advise and guide you.

They can even provide manifestation tools for attracting more wealth and innovative thinking into your approach to business and matters of finance.

Some people tend to shy away from the idea of a financial psychic reading, as they feel it is something that will only make them feel worse about their current money situation–especially if they have to shell out a few dollars to find a good reader.

However, this kind of reading can actually be very helpful, as it can give you an insight into your future finances and help you make better decisions about your money.

A financial psychic reading can help you understand your current relationship with money, and can also give you guidance about how to improve your finances in the future.

If you are struggling with your finances, or if you just want to get a better understanding of your relationship with money, then a financial psychic reading may be right for you.

If you are interested in getting a financial psychic reading, there are a few things that you should keep in mind.

First of all, it is important to find a psychic reader who is experienced and reputable. There are many scam artists out there who will try to take advantage of people who are desperate for help with their finances, so you need to be sure that you are working with someone who is legitimate.

You can ask around for recommendations from friends or family, or you can search online for reviews of different psychic readers. Once you have found a few potential readers, take some time to research them and make sure that they are credible.

Once you have found a psychic reader that you feel comfortable with, the next step is to schedule a reading.

Financial psychic readings can be done over the phone, or in person. If you choose to have your reading done over the phone, then it is important to make sure that you are in a quiet place where you will not be interrupted.

It is also important to have an open mind during your reading, as the psychic reader will be looking into your future and trying to give you advice based on what they see.

Try not to be too attached to any one particular outcome, as the point of a financial psychic reading is to help you make better decisions about your money, not to make predictions about your future.

Keep in mind that a financial psychic reading is not an exact science, and that the reader may not be able to give you a definitive answer to all of your questions.

However, if you ask specific questions and are open to the guidance that they offer, then you should be able to get some useful information from your reading.

If you follow the advice that you receive from your financial psychic reading, then you should see a positive change in your relationship with money. In time, you may even find that you are able to save more money and make better financial decisions overall.

Who knows, maybe a financial psychic reading is just what you need to get your finances back on track!

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Novel Ways to Increase Exposure to Precious Metals

August 8, 2022

Lately, more and more people are interested in investing their money in precious metals. This is because precious metals are seen as a safe investment option, and they can provide a hedge against inflation. However, nobody is looking to replicate Fort Knox at their house. So, how can the average person get exposure to precious metals without having to store them?

ETFs – Exchange-traded funds

One way to get exposure to precious metals is through Exchange Traded Funds or ETFs. ETFs are a type of investment fund that tracks an underlying asset. For example, there are ETFs that track the price of gold, silver, or other precious metals. ETFs are traded on stock exchanges, and they can be bought and sold like stocks.

The main advantage of ETFs is that they provide exposure to an asset without the need to own the underlying asset. This means that you don’t have to worry about storing or insuring your precious metals. ETFs are also very liquid, which means that you can easily buy and sell them.

The main disadvantage of ETFs is that they come with fees and expenses. These fees can eat into your profits, and they can also make it difficult to track the performance of the underlying asset. ETFs are also subject to market volatility, which means that their prices can go up and down quickly.

Futures Contracts

Another way to get exposure to precious metals is through futures contracts. Futures contracts are agreements to buy or sell an asset at a future date. For example, you could agree to buy gold at $1,000 per ounce in one year. If the price of gold goes up, you will make a profit. If the price of gold goes down, you will lose money.

Futures contracts are traded on futures exchanges. The main advantage of futures contracts is that they provide exposure to an asset without the need to own the underlying asset. This means that you don’t have to worry about storing or insuring your precious metals. Futures contracts are also very liquid, which means that you can easily buy and sell them.

Precious Metals IRA

Precious metals IRAs are a type of retirement account that allows investors to hold physical gold, silver, or other precious metals in their portfolios. Unlike traditional IRAs, which are typically invested in stocks or mutual funds, precious metals IRAs give investors the ability to directly own and store physical assets.

There are a few different ways to invest in a precious metals IRA. Investors can choose to purchase physical gold, silver, or other precious metals and store them in a designated depository. Alternatively, investors can invest in ETFs or mutual funds that track the price of gold, silver, or other precious metals.

Precious metals IRAs offer a number of benefits for investors. First, precious metals tend to be a more stable investment than stocks or mutual funds. They are also not as susceptible to inflationary pressures. Additionally, precious metals IRAs offer investors the ability to directly own and store physical assets, which can be a major advantage over other types of retirement accounts.

There are a few things to keep in mind before investing in a precious metals IRA. First, it’s important to choose a reputable custodian that offers storage and security services. Second, investors should be aware of the risks associated with precious metals IRAs, including market volatility and the potential for theft or loss. However, for investors looking for an alternative way to invest in retirement, precious metals IRAs can be a great option.

Precious Metal-backed CryptoCurrency

Precious metal-backed cryptocurrency is a new and exciting way to invest in digital currencies. Unlike traditional fiat currencies, which are based on the value of gold or silver, precious metal-backed cryptocurrency is based on the value of rare and valuable metals such as platinum, palladium, and rhodium. While there are a limited number of these metals available in the world, their rarity makes them much more valuable than gold or silver. As a result, investors who hold precious metal-backed cryptocurrencies can enjoy significant profits when the price of these metals increases.

While there are many similarities between precious metal-backed cryptocurrency and bitcoin, there are also some important differences. First, unlike bitcoin, which is not backed by any physical asset, precious metal-backed cryptocurrency is backed by a physical asset. This means that if the price of the underlying metal goes up, so will the value of the coin. Additionally, precious metal-backed cryptocurrency is not subject to the same volatility as bitcoin. This is because the price of the underlying asset is much more stable than the volatile price of bitcoin.

Another important difference between precious metal-backed cryptocurrency and bitcoin is that there are no central banks or government agencies that control or issue these coins. This decentralization makes it extremely difficult for governments to manipulate the prices of these assets. Additionally, because there is no central authority controlling the supply of these assets, investors can be assured that they will always have access to them. This provides a high degree of security and peace of mind for investors.

Finally, precious metal-backed cryptocurrency offers a number of advantages over traditional fiat currencies. For one, because the value of these assets is based on the underlying value of rare and valuable metals, they are not subject to the same inflationary pressures that fiat currencies are. Additionally, because there is no central bank or government agency controlling their supply, investors can be assured that they will always have access to them. This provides a high degree of security and peace of mind for investors.

Buy Stock In Related Companies

If you don’t want to own the physical metal, another way to increase your exposure to precious metals is to buy stock in companies that are related to the industry. For example, if you are interested in gold, you could buy stock in a gold mining company. This would give you exposure to the price of gold, without having to actually own any of the metal.

There are a few things to keep in mind before investing in stocks. First, it’s important to choose a reputable and well-established company. Second, you should diversify your portfolio by investing in a variety of different companies. This will help reduce your risk and ensure that you don’t lose all of your investment if one company experiences problems.

Gold and Silver Mutual Funds

Another way to invest in precious metals is through mutual funds that focus on gold and silver. These types of funds invest in a variety of different companies that are involved in the precious metals industry. This allows you to diversify your investment and reduce your risk.

Before investing in any type of mutual fund, it’s important to do your research. You should carefully consider the fees charged by the fund, as well as the investment objectives and strategies. Additionally, it’s a good idea to speak with a financial advisor to get guidance on which funds are right for you.

Land or a Mining Stake

If you’re really looking to get exposure to the precious metals industry, you could consider buying land or a mining stake. This would give you direct exposure to the price of the metal, as well as any profits that are generated from its production.

Of course, there are a few things to keep in mind before making this type of investment. First, you need to make sure that you purchase land or a mining stake in an area where there is known precious metal deposits. Second, you need to be aware of the risks involved in mining, such as cave-ins and flooding. Finally, you need to have the financial resources in place to cover the costs of purchasing and developing the land or mining stake.

Precious metals are a valuable investment because they are backed by natural resources and have been used as currency for centuries. There are a variety of ways to invest in precious metals, including buying stock in related companies, investing in mutual funds, or purchasing land or a mining stake. Whichever method you choose, it’s important to do your research before investing.

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Finding the Best Payment Gateway for Your Business

August 8, 2022

Been able to conduct business transactions online to more conveniently serve customers has become a massive driver of growth for companies. However, developing an in-house payment gateway is expensive, time consuming, and fraught with legislative curve balls to consider. With that in mind developers stepped up to the plate to create front-end payment gateways that effectively allowed small to medium enterprises the ability to process credit cards online while remaining in line with legal requirements and best practises.

Types of Payment Gateway

Before we look at what needs to be considered when choosing the right gateway for you and your business it is prudent to first look at the types of payment gateway available on the market. The first of which is the on-site gateway. Theseare favoured by large enterprises as the application and all the data is stored on the company’s own infrastructure. These method is a beneficial to businesses with incredibly high sales volumes as the entire shopping experience is controlled centrally and little tweaks can be readily made to improve the bottom line.

The next type is more suited to smaller businesses, that being the checkout onsite while payment is processed offsite. This method simplifies the payment process and allows for increased security as payments are processed on the gateways backend. This method offers less control when compared to an on-site gateway.

Lastly, a payment gateway can fall into the redirects category. Redirect payment gateways work by redirecting the customer to a site under the control of the gateway provider. PayPal would be an example of this method. The site that the customer is redirected to then handles the payment. This method features the least control over the process to the business but is the most convenient. It is important to remember that redirects will often mean your customer will have to complete another step to complete the process.

How to Choose the Right Payment Gateway

In choosing the right gateway several questions need to be answered. The rest of the article is dedicated to providing you these all important questions. The first being, what is your customer base already using? This requires a bit of market research into what they use but can be an important consideration when looking to provide the best online shopping experience possible.

Next, does the gateway integrate seamlessly with your existing tech stack? If adding a payment gateway means you need to invest in entirely new infrastructure it probably isn’t the right choice at the moment. Your chosen solution should be able to work with what you have currently with no difficulty onboarding the gateway. This can sometimes be a tricky question to answer directly at exactly.com we will look answer any queries you may have regarding this.

You then need to be sure the payment gateway provides high levels of encryption and security to your customers entering in credit card details and sensitive information. The higher the security standard, the more likely the payment gateway will adhere to important legal requirements. Lastly, can you afford the fees? Whether you are building a gateway from the ground up, which is a massive capital expenditure exercise, or deploying a third-parties gateway costs and fees need to be assessed.

Conclusion

Taking the time to choose the right payment gateway and comparing all the options can turn a necessary evil into an asset. This does require research but any important decision does, don’t jump at the first company with the flashiest marketing.

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