With finals approaching, I thought it would be a great time to talk about 5 big things that happened in the financial world this semester. The world has been a busy place and it’s important to know what’s been going on. I’m here with my top 5 to help get you caught up.
#5:
Alibaba: This tech giant had the largest US IPO ever — $21.8 billion back in September. You might not know much about this company, but it will have a huge impact in the future. This is big news for the highly skilled workforce of tomorrow, you and I included. The Chinese tech industry is a powerhouse and is quickly moving away from the “cheap labor capital” to demanding highly skilled workers from all over the country, America included. Before too long, foreign tech companies like Alibaba will be pulling talent from America in order to compete on a global scale like never before.
#4:
Tuition Crises: Yes, this is still ongoing. Tuition is still increasing by an average of 8 percent per year, according to a Forbes.com study. Thankfully we’re already here, because it’s just going to get worse for future students. This is an ongoing issue that is going to take a while to solve, but until then we can start thinking of policy changes that need to be made. While the government needs to increase the supply of affordable private loans to incoming students, there also needs to be a philanthropic push to get more grants and scholarships out there. Either way, the current system has got to change.
#3:
Net Neutrality: This is big, people. Forget human rights, the buzz this semester has been internet rights! The idea that all internet be treated equally might sound to you like the beginning of a computer uprising, but it’s really an important ethical dilemma that we’ve been facing. Should all internet be free at the same speed? Should governments allow some providers to allow “fast lane” sites versus “slow lane” websites all based on financial incentives? These questions will continue to unravel in the coming months, but this semester the idea jumped in popularity and now has the critique of public opinion. My take? Equal internet for all, of course!
#2: Security Breaches: Forget Target and JCPenny, Home Depot was under fire this semester for its security breach of thousands of customer’s personal credit card information. These breaches have resulted in large sales declines in these companies. They are scrambling to change their image before the holiday season is underway, but it might be too little too late. How companies handle their identity theft protection measures will be huge in whether they succeed or fail. Other companies are paying big bucks to make sure their security measures are able to hold up to whatever comes their way. Otherwise they’ll be in a PR nightmare like Target and Home Depot.
#1:Unemployment: Ahh, the old unemployment level. What has it been up to this semester? Well, by watching the news you would think we are reaching depression-level unemployment with all of the negative coverage of everything from job growth to the political election.
The truth, though? Unemployment as been decreasing every month since the semester started! Unemployment has reached a 3 year low of 5.8 percent as of October 2014! This is amazing news opposed to the 8.2 percent unemployment as recent as July 2012. Things are looking up, and it’s great to know there’s a light at the end of the tunnel. All of this coming right when we are approaching graduation means higher chance of landing a great job out of college!
So have a great finals week, and know that while things might not be too great with your grades, at least the economy isn’t doing half bad!
