Unemployment in Maryland falls to lowest level in 11 years

The unemployment rate in Maryland has kicked off 2019 on an encouraging note. For the first time since 2008, the official Maryland unemployment rate has decreased to the lowest it has been in more than a decade. This decrease saw the New Year starting off with an unemployment rate of 3.7 percent, following 3.9 percent in December 2018.

The economic boost to the unemployment rate came from a welcomed gain of over 3,000 job opportunities across a considerable number of key markets and leading sectors, typically ranging from the financial industry to the highest gain being in the transportation, utilities, and trade industries with up to 2000 created positions.

From Good To Better

The Maryland employment market keeps on showing improvement and encouraging signs that progressive growth is set to continue throughout 2019. In welcome addition, Maryland has also ranked high in economic comparison to other states with over 80 venture capitals contributing a profitable investment of more than $1 billion. This successful period has additionally also noticed an overall increase in sustainable growth in potential Freelance Consulting opportunities.

Methodically Taking The Plunge

Altogether, this key industry has universally recognized a rising number of Americans put into effect the necessary steps to venture into the evolving world of entrepreneurship and starting up their own consulting services. Slow wage growth is indicated to be one of the key contributors driving individuals to carry out the step to self-employment. With over 56 million freelancers currently in the US, there is no doubt that the skilled workforce is fast realizing that extensive experience and knowledge hold value in the constantly expanding entrepreneur industry.

The Power Of Knowledge And Skill

While knowledge is power, experience, and skill are the basis for establishing a firm foundation for a number of possible employment opportunities. A recent informative article about preparing for the case interview published by Myconsultingcoach highlighted the fundamental value that extensive knowledge and experience bring to the table for skilled individuals. This is even more valuable for anyone wanting to carry out the steps to establish and develop their own consulting services without the necessary experience and degrees.

In addition to a number of other skills which include intellectual curiosity and critical thinking, a skilled individual can establish and secure the foundation to develop a successful consulting service. While executing a plan to start up your own venture is in no way considered easy, with the right planning, guidance, and preparation, it is possible.

To Get You Thinking

An example of the value behind knowledge, experience, and passion:

An accountant with a talent and passion for interior design often helped friends and family redesign and redecorate their homes and offices in her spare time. While this was often done as a hobby or favor, within a few months, the quality of her work and her reputation to deliver on what was promised promptly saw her giving up her full-time employment to start up a successful design and party planning consulting service. The knowledge and practice she gained when first starting out provided her with a head start to planning out her successful business plan which she ultimately rolled out to establish and grow a successful business with 5 employees.

Remember to:

1. Always plan, plan, plan! Always carefully research and design your blueprint for every step of your business plan.

2. Do not only count on what you know. The sky is the limit when it comes to bettering and growing your knowledge and skills.

3. Always establish the foundation of your business and services on what you know. As you grow and gain more knowledge and experience, you can start to include other services. It is critical to consistently deliver on what you promise.

4. As a consultant, your reputation is gold. Make sure you are always in good standing with clients and within your community.