Abstract: For the third straight month, job growth has been less than impressive. Unemployment remains at 8.2% regardless of the 80,000 jobs added in June. This puts more pressure on the Federal Reserve to do something to try to boost the economy.
Our Take: With small gains in the jobs market, the Fed has lowered it’s expectations on the U.S. economy’s growth. This is a strategic problem for nonprofits that needs to be addressed immediately, if it hasn’t already. When it comes to raising funds in hard times, remember that there are some businesses that do better in hard times. So it might be advantageous to seek donations from those types of companies. For example, when times get hard people stop buy less at Target and more at Family Dollar. More people are paying for bankruptcy and real estate attorneys, etc. Think about trade-offs and substitutions between what people buy in “good times” versus what they buy in “down times” and that’s where the money’s at.
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