April 11, 2015
REPLACE MATH WITH HOME REPAIR...:
Pity the Maytag Repairman (Kathleen Madigan, 4/05/15, WSJ)
Consumers facing stagnant wages and tight budgets are rethinking spending on an array of services. They are lengthening the time between haircuts, shunning movie theaters for in-home entertainment and taking over tasks once left to professionals. The shift is one reason inflation-adjusted household spending on services has grown more slowly in this economic expansion than during previous upturns.The can-do attitude saves consumers money and gives them a sense of empowerment, but it also dings the appliance- repair industry. Spending on appliance repair collapsed an inflation-adjusted 15.7% from the housing bust in 2006 through the recession's end in mid-2009, according to Commerce Department figures. It fell 11% more so far during the expansion.The drop is contributing to a thinning of the ranks of repair professionals and weaker wage growth for those who remain. Market-research firm IBIS World named appliance repair as the riskiest career for 2015.
...and men will be useful to their wives even after jobs go away.
Posted by Orrin Judd at April 11, 2015 7:55 AM
Tweet
