Business
‘Nothing to suggest’ US will have a recession: Yellen

Published
12 months agoon
By
AFP
The United States is unlikely to suffer an economic downturn, despite sky-high inflation, US Treasury Secretary Janet Yellen said Thursday.
“There’s nothing to suggest that there’s a recession in the works,” she said during an interview at The New York Times’ economic forum.
The US economy has recovered strongly from the Covid-19 damage, but the highest inflation in four decades and supply chain snarls exacerbated by Russia’s invasion of Ukraine are increasing pessimism.
The US Labor Department is set to release the May consumer price index (CPI) report on Friday, and analysts expect the data could potentially show a modest slowdown in the torrid 8.3 percent annual pace.
The Federal Reserve has begun raising interest rates aggressively, with another big hike expected next week, as policymakers attempt to combat inflationary pressures without triggering a recession.
Yellen expressed confidence they will be successful.
“I believe there is a path through this that entails a soft landing,” she said.
But the swiftness of the Fed’s planned moves has increased fears of a recession, generally defined as two consecutive quarters of negative growth.
At the forum, Yellen was asked to respond to rapper Cardi B’s tweet about a possible downturn.
“Is there a recession risk? Of course there’s a recession risk,” the Treasury secretary said. “But is it likely? I don’t think so.”
When asked if she knew who Cardi B was, Yellen quipped: “I don’t have a lot of time for her, but I am alive.”
Fed Chair Jerome Powell and President Joe Biden have each sought to assuage recession fears, with Powell saying the US economy is strong enough to weather higher borrowing costs.

With 2,400 staff representing 100 different nationalities, AFP covers the world as a leading global news agency. AFP provides fast, comprehensive and verified coverage of the issues affecting our daily lives.
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Pinpointing which jobs are the country’s least popular can tell you something about the direction an economy is going.
That’s because industries that once thrived might have lost ground to technological or other advances and have few job openings. Others with many opportunities for employment might be growing.
Of course, jobs can be unpopular or uncommon for many reasons. On the TV show “Dirty Jobs,” host Mike Rowe is seen farming deer for urine and relocating beavers—clearly, employment that’s not for everyone.
Other jobs might require years of education or training or be limited to certain geographical areas.
Stacker ranked the 100 least popular jobs in America, based on their total employment and using May 2022 data from the Bureau of Labor Statistics, Only detailed job categories were included in the analysis. Every position’s number of total workers in the United States is listed alongside its average annual wage and average hourly wage.
Read on to see if you hold one of the least popular jobs in the country.
Stokkete // Shutterstock
#100. Archivists
– Total nationwide employment: 7,230
– Median hourly wage: $28.19
– Median annual wage: $58,640
Kzenon // Shutterstock
#99. Helpers–extraction workers
– Total nationwide employment: 6,910
– Median hourly wage: $20.73
– Median annual wage: $43,110
Glen Jones // Shutterstock
#98. Layout workers, metal and plastic
– Total nationwide employment: 6,890
– Median hourly wage: $28.01
– Median annual wage: $58,260
APChanel // Shutterstock
#97. Signal and track switch repairers
– Total nationwide employment: 6,880
– Median hourly wage: $39.09
– Median annual wage: $81,300
Golubovy // Shutterstock
#96. Statistical assistants
– Total nationwide employment: 6,710
– Median hourly wage: $23.50
– Median annual wage: $48,880
Brian Goodman // Shutterstock
#95. Textile bleaching and dyeing machine operators and tenders
– Total nationwide employment: 6,640
– Median hourly wage: $15.71
– Median annual wage: $32,680
Monkey Business Images // Shutterstock
#94. Exercise physiologists
– Total nationwide employment: 6,580
– Median hourly wage: $24.69
– Median annual wage: $51,350
GOLFX // Shutterstock
#93. Desktop publishers
– Total nationwide employment: 6,560
– Median hourly wage: $23.04
– Median annual wage: $47,910
ZikG // Shutterstock
#92. Fish and game wardens
– Total nationwide employment: 6,530
– Median hourly wage: $28.61
– Median annual wage: $59,500
Pixel B // Shutterstock
#91. Drilling and boring machine tool setters, operators, and tenders, metal and plastic
– Total nationwide employment: 6,470
– Median hourly wage: $20.41
– Median annual wage: $42,450
Jacob Lund // Shutterstock
#89. Architecture teachers, postsecondary
– Total nationwide employment: 6,420
– Median hourly wage: Not available
– Median annual wage: $93,220
Canva
#89. Cooling and freezing equipment operators and tenders
– Total nationwide employment: 6,420
– Median hourly wage: $20.62
– Median annual wage: $42,890
Canva
#88. Musical instrument repairers and tuners
– Total nationwide employment: 6,330
– Median hourly wage: $18.34
– Median annual wage: $38,150
Canva
#87. Orthodontists
– Total nationwide employment: 6,310
– Median hourly wage: $83.83
– Median annual wage: $174,360
LaKirr // Shutterstock
#86. Extraction workers, all other
– Total nationwide employment: 6,290
– Median hourly wage: $24.81
– Median annual wage: $51,600
Patrizio Martorana // Shutterstock
#85. Hydrologists
– Total nationwide employment: 6,270
– Median hourly wage: $41.34
– Median annual wage: $85,990
Syda Productions // Shutterstock
#84. Farmers, ranchers, and other agricultural managers
– Total nationwide employment: 6,250
– Median hourly wage: $36.42
– Median annual wage: $75,760
I. Noyan Yilmaz // // Shutterstock
#83. Environmental science teachers, postsecondary
– Total nationwide employment: 6,240
– Median hourly wage: Not available
– Median annual wage: $83,040
Canva
#82. Agricultural workers, all other
– Total nationwide employment: 6,100
– Median hourly wage: $17.17
– Median annual wage: $35,720
Canva
#81. Forest and conservation workers
– Total nationwide employment: 6,080
– Median hourly wage: $15.51
– Median annual wage: $32,270
Max Mark Agnor // Shutterstock
#80. Pourers and casters, metal
– Total nationwide employment: 6,070
– Median hourly wage: $21.67
– Median annual wage: $45,070
Krysja // Shutterstock
#79. Nuclear technicians
– Total nationwide employment: 5,880
– Median hourly wage: $48.28
– Median annual wage: $100,420
Canva
#78. Helpers–roofers
– Total nationwide employment: 5,790
– Median hourly wage: $17.80
– Median annual wage: $37,020
Linda Zupanc // Shutterstock
#77. Costume attendants
– Total nationwide employment: 5,730
– Median hourly wage: $23.30
– Median annual wage: $48,470
Desizned // Shutterstock
#76. Political scientists
– Total nationwide employment: 5,660
– Median hourly wage: $61.55
– Median annual wage: $128,020
viktoriia varvashchenko // Shutterstock
#75. Disc jockeys, except radio
– Total nationwide employment: 5,640
– Median hourly wage: $21.34
– Median annual wage: Not available
Gorodenkoff // Shutterstock
#74. Nuclear power reactor operators
– Total nationwide employment: 5,450
– Median hourly wage: $55.71
– Median annual wage: $115,870
Canva
#73. Choreographers
– Total nationwide employment: 5,400
– Median hourly wage: $24.52
– Median annual wage: $50,990
Canva
#72. Photographic process workers and processing machine operators
– Total nationwide employment: 5,380
– Median hourly wage: $17.44
– Median annual wage: $36,280
Canva
#71. Tool grinders, filers, and sharpeners
– Total nationwide employment: 5,320
– Median hourly wage: $20.16
– Median annual wage: $41,940
Canva
#70. Dentists, all other specialists
– Total nationwide employment: 5,250
– Median hourly wage: $102.28
– Median annual wage: $212,740
Canva
#69. Loading and moving machine operators, underground mining
– Total nationwide employment: 5,210
– Median hourly wage: $30.73
– Median annual wage: $63,920
Canva
#68. Proofreaders and copy markers
– Total nationwide employment: 5,120
– Median hourly wage: $21.83
– Median annual wage: $45,410
Canva
#67. Correspondence clerks
– Total nationwide employment: 4,970
– Median hourly wage: $18.61
– Median annual wage: $38,700
Jacob Lund // Shutterstock
#65. Anthropology and archeology teachers, postsecondary
– Total nationwide employment: 4,930
– Median hourly wage: Not available
– Median annual wage: $85,000
ALPA PROD // Shutterstock
#65. Entertainment attendants and related workers, all other
– Total nationwide employment: 4,930
– Median hourly wage: $13.11
– Median annual wage: $27,260
HannaTor // Shutterstock
#64. Gambling managers
– Total nationwide employment: 4,800
– Median hourly wage: $38.80
– Median annual wage: $80,710
Robilad Co // Shutterstock
#63. Craft artists
– Total nationwide employment: 4,760
– Median hourly wage: $18.34
– Median annual wage: $38,150
Fortish // Shutterstock
#62. Explosives workers, ordnance handling experts, and blasters
– Total nationwide employment: 4,710
– Median hourly wage: $27.24
– Median annual wage: $56,670
Yulyazolotko // Shutterstock
#61. Fallers
– Total nationwide employment: 4,530
– Median hourly wage: $23.64
– Median annual wage: $49,160
Canva
#60. Library science teachers, postsecondary
– Total nationwide employment: 4,330
– Median hourly wage: Not available
– Median annual wage: $76,370
Canva
#59. Oral and maxillofacial surgeons
– Total nationwide employment: 4,290
– Median hourly wage: #
– Median annual wage: #
Canva
#58. Floor sanders and finishers
– Total nationwide employment: 4,270
– Median hourly wage: $22.14
– Median annual wage: $46,060
Canva
#57. Telephone operators
– Total nationwide employment: 4,030
– Median hourly wage: $18.43
– Median annual wage: $38,330
NKM999 // Shutterstock
#55. Embalmers
– Total nationwide employment: 3,950
– Median hourly wage: $23.99
– Median annual wage: $49,910
TFoxFoto // Shutterstock
#55. Log graders and scalers
– Total nationwide employment: 3,950
– Median hourly wage: $20.37
– Median annual wage: $42,370
Canva
#54. Rock splitters, quarry
– Total nationwide employment: 3,910
– Median hourly wage: $22.12
– Median annual wage: $46,010
Aniwat phromrungsee // Shutterstock
#53. Commercial divers
– Total nationwide employment: 3,860
– Median hourly wage: $32.84
– Median annual wage: $68,300
Erickson Stock // Shutterstock
#52. Mathematical science occupations, all other
– Total nationwide employment: 3,840
– Median hourly wage: $34.47
– Median annual wage: $71,700
Canva
#51. Gas compressor and gas pumping station operators
– Total nationwide employment: 3,740
– Median hourly wage: $28.84
– Median annual wage: $59,990
Canva
#50. Occupational therapy aides
– Total nationwide employment: 3,710
– Median hourly wage: $17.82
– Median annual wage: $37,060
Denys Yelmanov // Shutterstock
#49. Bridge and lock tenders
– Total nationwide employment: 3,690
– Median hourly wage: $22.73
– Median annual wage: $47,280
indykb // Shutterstock
#48. Manufactured building and mobile home installers
– Total nationwide employment: 3,630
– Median hourly wage: $17.70
– Median annual wage: $36,820
Canva
#47. Logging workers, all other
– Total nationwide employment: 3,490
– Median hourly wage: $22.65
– Median annual wage: $47,110
Canva
#46. Sewers, hand
– Total nationwide employment: 3,440
– Median hourly wage: $15.16
– Median annual wage: $31,530
JL IMAGES // Shutterstock
#45. Transit and railroad police
– Total nationwide employment: 3,370
– Median hourly wage: $33.25
– Median annual wage: $69,150
Gorodenkoff // Shutterstock
#44. Model makers, metal and plastic
– Total nationwide employment: 3,350
– Median hourly wage: $27.70
– Median annual wage: $57,620
GagliardiPhotography // Shutterstock
#43. Geography teachers, postsecondary
– Total nationwide employment: 3,340
– Median hourly wage: Not available
– Median annual wage: $81,920
Canva
#42. Pile driver operators
– Total nationwide employment: 3,290
– Median hourly wage: $30.92
– Median annual wage: $64,310
Canva
#41. Genetic counselors
– Total nationwide employment: 3,220
– Median hourly wage: $43.26
– Median annual wage: $89,990
Mark_Kostich // Shutterstock
#40. Medical dosimetrists
– Total nationwide employment: 3,190
– Median hourly wage: $62.01
– Median annual wage: $128,970
Agenturfotografin // Shutterstock
#39. Historians
– Total nationwide employment: 3,120
– Median hourly wage: $31.03
– Median annual wage: $64,540
Dmitry Dven // Shutterstock
#38. Motorboat operators
– Total nationwide employment: 3,110
– Median hourly wage: $19.92
– Median annual wage: $41,430
Sergii Kovalov // Shutterstock
#37. Fabric and apparel patternmakers
– Total nationwide employment: 3,070
– Median hourly wage: $29.00
– Median annual wage: $60,320
Canva
#36. Sociologists
– Total nationwide employment: 2,980
– Median hourly wage: $47.40
– Median annual wage: $98,590
Kokulina // Shutterstock
#35. Makeup artists, theatrical and performance
– Total nationwide employment: 2,970
– Median hourly wage: $46.33
– Median annual wage: $96,370
Olaf Speier // Shutterstock
#34. Shoe machine operators and tenders
– Total nationwide employment: 2,960
– Median hourly wage: $15.89
– Median annual wage: $33,060
SimonTheSorcerer // Shutterstock
#33. Crematory operators
– Total nationwide employment: 2,930
– Median hourly wage: $19.40
– Median annual wage: $40,360
Photodiem // Shutterstock
#32. Hydrologic technicians
– Total nationwide employment: 2,920
– Median hourly wage: $28.06
– Median annual wage: $58,360
APChanel // Shutterstock
#31. Rail yard engineers, dinkey operators, and hostlers
– Total nationwide employment: 2,680
– Median hourly wage: $27.09
– Median annual wage: $56,340
Pressmaster // Shutterstock
#30. Animal scientists
– Total nationwide employment: 2,520
– Median hourly wage: $33.36
– Median annual wage: $69,390
Canva
#29. Hoist and winch operators
– Total nationwide employment: 2,440
– Median hourly wage: $28.34
– Median annual wage: $58,950
Canva
#28. Family and consumer sciences teachers, postsecondary
– Total nationwide employment: 2,420
– Median hourly wage: Not available
– Median annual wage: $76,440
NancyS // Shutterstock
#27. Forest fire inspectors and prevention specialists
– Total nationwide employment: 2,290
– Median hourly wage: $23.13
– Median annual wage: $48,110
Peruphotart // Shutterstock
#26. Underground mining machine operators, all other
– Total nationwide employment: 2,270
– Median hourly wage: $30.86
– Median annual wage: $64,180
Canva
#25. Rail transportation workers, all other
– Total nationwide employment: 2,240
– Median hourly wage: $20.33
– Median annual wage: $42,280
Funtay // Shutterstock
#24. Patternmakers, metal and plastic
– Total nationwide employment: 2,230
– Median hourly wage: $26.43
– Median annual wage: $54,970
Canva
#23. Paperhangers
– Total nationwide employment: 2,220
– Median hourly wage: $21.60
– Median annual wage: $44,930
abriendomundo // Shutterstock
#22. Astronomers
– Total nationwide employment: 2,160
– Median hourly wage: $61.70
– Median annual wage: $128,330
Sergey Ryzhov // Shutterstock
#21. Camera and photographic equipment repairers
– Total nationwide employment: 2,120
– Median hourly wage: $21.18
– Median annual wage: $44,060
Kenishirotie //Shutterstock
#19. Mathematicians
– Total nationwide employment: 2,070
– Median hourly wage: $53.90
– Median annual wage: $112,110
Canva
#19. Models
– Total nationwide employment: 2,070
– Median hourly wage: $20.73
– Median annual wage: $43,130
Canva
#18. Motion picture projectionists
– Total nationwide employment: 1,900
– Median hourly wage: $16.04
– Median annual wage: $33,360
Canva
#17. Watch and clock repairers
– Total nationwide employment: 1,880
– Median hourly wage: $23.25
– Median annual wage: $48,370
Causeway // Shutterstock
#16. Roof bolters, mining
– Total nationwide employment: 1,700
– Median hourly wage: $28.95
– Median annual wage: $60,210
Budimir Jevtic // Shutterstock
#15. Agricultural engineers
– Total nationwide employment: 1,500
– Median hourly wage: $40.03
– Median annual wage: $83,260
Bannafarsai_Stock // Shutterstock
#14. Terrazzo workers and finishers
– Total nationwide employment: 1,460
– Median hourly wage: $25.16
– Median annual wage: $52,330
Adwo // Shutterstock
#13. Geographers
– Total nationwide employment: 1,360
– Median hourly wage: $42.74
– Median annual wage: $88,900
fizkes // Shutterstock
#12. Industrial-organizational psychologists
– Total nationwide employment: 1,280
– Median hourly wage: $66.96
– Median annual wage: $139,280
Robert Kneschke // Shutterstock
#10. Forestry and conservation science teachers, postsecondary
– Total nationwide employment: 1,270
– Median hourly wage: Not available
– Median annual wage: $96,500
goodluz // Shutterstock
#10. Animal breeders
– Total nationwide employment: 1,270
– Median hourly wage: $21.79
– Median annual wage: $45,320
Canva
#9. Communications equipment operators, all other
– Total nationwide employment: 1,240
– Median hourly wage: $22.20
– Median annual wage: $46,180
motodan // Shutterstock
#8. Dredge operators
– Total nationwide employment: 940
– Median hourly wage: $22.64
– Median annual wage: $47,090
beerkoff // Shutterstock
#7. Pediatric surgeons
– Total nationwide employment: 780
– Median hourly wage: #
– Median annual wage: #
Canva
#6. Model makers, wood
– Total nationwide employment: 720
– Median hourly wage: $22.57
– Median annual wage: $46,940
carlesmiro // Shutterstock
#5. Cooks, private household
– Total nationwide employment: 610
– Median hourly wage: $18.54
– Median annual wage: $38,570
Canva
#4. Refractory materials repairers, except brick masons
– Total nationwide employment: 580
– Median hourly wage: $24.30
– Median annual wage: $50,550
Canva
#3. Farm labor contractors
– Total nationwide employment: 550
– Median hourly wage: $23.72
– Median annual wage: $49,330
PRESSLAB // Shutterstock
#2. Timing device assemblers and adjusters
– Total nationwide employment: 370
– Median hourly wage: $20.33
– Median annual wage: $42,290
Dusan Petkovic // Shutterstock
#1. Patternmakers, wood
– Total nationwide employment: 330
– Median hourly wage: $21.29
– Median annual wage: $44,290
Data reporting by Paxtyn Merten. Story editing by Jeff Inglis. Copy editing by Robert Wickwire.

Founded in 2017, Stacker combines data analysis with rich editorial context, drawing on authoritative sources and subject matter experts to drive storytelling.
Business
How to build company culture in a scale-up
Culture is no small thing, and according to Virtual Gurus founder and CEO Bobbie Racette, communication — and even getting uncomfortable — is key.

Published
4 days agoon
May 31, 2023
Anyone can type out a vision, mission statement, and outline some core values. But Bobbie Racette, the founder and CEO of Virtual Gurus, took things one step further: she made sure it was posted at the entrance to the company’s office with messages of inclusion and acceptance.
She says those messages are a central part of the company culture, which she sees as a shared belief in acceptance that unites the approximately 50 people working in the company’s headquarters.
But even with such a visible statement, she struggled to maintain a company-wide focus as the start-up grew and expanded.
“Even though the pandemic was still 300 percent, year over growth, we broke internally,” said Racette. “Because our culture was just a mess.”
For Racette, it required her to realize she couldn’t just instill that culture and stress its importance to her leadership team, hoping it would trickle down. She couldn’t just put it on a wall. She had to model those beliefs and bring them directly to all of her employees.
And she had to listen.
So, what really is culture?
The struggle of building and maintaining culture through rapid growth isn’t rare. The start-up world is littered with companies that lost their way.
Culture is no small thing. It’s the foundation of a business and helps guide decisions — from the big to the mundane. If the focus is sharp and the will is there, it will help guide who is hired and how they fit into the larger team.
It’s not about what the office looks like, or free lunches and abundant snacks — the sort of perk-heavy, laid-back office that has come to be associated with tech startups. The atmosphere of a place is not the core of what it means to work there.
Finding and nurturing that core is particularly important for Racette and Virtual Gurus, which provides companies with remote workers on everything from social media to accounting, and focuses on providing employment for underrepresented communities.
“I realized I had to pull back some of the perks and then push the values and I had to essentially retrain everybody to think, ‘wait, if I’m gonna get the perks, I gotta live with the mission, vision, and values, not the other way around,’” said Racette.
The culture she wanted at the company prioritizes inclusiveness, but also innovation, agility, and positivity. Racette realized it was critical to screen out those who didn’t buy in or could be toxic to the kind of workplace she needed for her company.


“I truly believe that in order to get comfortable, you have to get uncomfortable first. So our entire company had to go through an uncomfortable moment,” she said.
And those values she’s so determined to nurture are personal and hard-earned.
“I have lived through the barriers of being an Indigenous woman, a queer Indigenous woman, who has tattoos and… can’t get a job,” she said at the recent mesh conference in Calgary.
How do you maintain culture through growth or scale-up?
When Racette started the company in 2016, maintaining that culture was easy.
She was the only employee.
Then came funding rounds and growth. More employees in the office, but also more and more virtual assistants — over 1,000 at last count — spread across North America.
“You can run a company all day long, but when you’re scaling, you have to pivot left, right, and center all the time,” Racette told mesh conference attendees.
“And so when you pivot, you have to take your whole company and pivot with you, and when you’re doing that you have to keep the culture during that.”
Screening out those elements toxic to the culture at Virtual Gurus was an important step. Research has shown that toxic culture is a big driver of what’s been dubbed “the Great Resignation.”
Racette also followed the advice from organizations and other businesses when it comes to managing growth and culture — from hiring to setting targets and ensuring she is accountable for both change and cultural stability.
Communication, she said in a recent interview, was key.
“I send out weekly CEO updates by email, and then we’ll have all-hands meetings twice a month, and I host those,” said Racette. “So I’m very communicative about why and how the culture is changing.”
Central to that communication is allowing staff to offer feedback, listening closely to what they’re saying — and not being afraid of criticism. She now does what she calls a daily “lion hunt,” going through the office and checking in with employees.
She also says there has been an increased focus on all of the virtual assistants who form the backbone of the company, but who can’t be there in person for her walks around the office. The company has created a virtual hub to maintain those connections, providing incentives and perks, while also emphasizing the importance of the company values and mission.
“We don’t just treat them like a number,” Racette said.
But like those words written at the entrance to the company office, it takes more than spelling it out and carrying on.
“You can talk about it all day long, it’s actioning it,” said Racette. “And that’s one thing I’ve noticed with us is we were talking about the culture, but we weren’t actually actioning it.”
And, of course, incentives work too. Racette says employee bonuses worth four to eight percent of their salary now hinge on whether they follow the company values.
How has work culture changed over time?
Contemporary workplaces, and certainly startups, are a different beast than the offices of old. They are nimble and often more flexible. And unlike many formal offices, there’s no dress code at Virtual Gurus.
But it’s also about how company’s measure and value work — something that can have a profound impact on culture.
“I think it’s changed from being activity and action-driven to being more outcomes-focused,” said Racette.
At her office, employees aren’t judged for showing up late, or engaging in more activities that don’t necessarily lead to the right kind of results. If it takes five hours for someone to do all their work, then so be it.
Racette wants her staff to be accepting of those around them, and to be adaptable in the face of constant change. In order to get there, it only makes sense to put that same faith in her employees, leading down to nurture that all-important culture.
“You can’t fix your culture or have a good culture unless people have a psychologically safe space to work,” she said.
Stepping off an elevator and seeing a wall plastered with good intentions is one thing, but walking into an office where employees are all committed to goals based on those shared values is another, more successful thing altogether.

Business
Rising costs, work-life balance among top mental health stressors for Canadian entrepreneurs
A look at BDC’s latest survey results on mental health challenges for Canadian entrepreneurs.

Published
6 days agoon
May 29, 2023By
Veronica Ott
Have you recently gone into business for yourself? BDC’s latest survey indicates a higher likelihood of you facing some mental health challenges.
And you’re more likely to seek professional help if you’re a:
- Women
- Younger business owner
- Business owner with 20+ employees
- Business owner in the arts, entertainment, and recreation fields
- Startup business owner
While men and older business owners were less likely to seek professional health, that doesn’t necessarily equal fewer mental health challenges.
Indeed, BDC’s latest survey on 1,500 Canadian SME business owners and mental health illuminates a concerning 45% increase in Canadian business owners facing mental health challenges (compared to 38% last year).
Here are some more highlights from the report:
More Canadian entrepreneurs feel tired and depressed, with fewer seeking help
The survey responses show that 67% of entrepreneurs felt tired and low-energy at least once a week. Similarly, nearly 50% felt depressed and like they didn’t accomplish everything they would have liked to.
“Entrepreneurs often comment that it feels lonely at the top and rarely speak candidly about organizational and personal challenges,” said Hassel Aviles, co-founder of Not 9 to 5.
While certain groups are more likely to seek support than others, the survey still only shows about a third (35%) of respondents actually sought mental health support.
And the hesitation isn’t a matter of pride. The top barrier to seeking help was the high costs of mental health services, with uncertainty and discomfort discussing things following close behind.
“I currently pay out-of-pocket for a private therapist,” said one anonymous survey respondent. “I am very grateful for that, and I click with my therapist well, but it typically costs me $200- $400 per month. This is a hard expense to tend to in the current economic situation.”
Inflation and work-life balance are top stressors
The survey showed that 54% of entrepreneurs cited inflation and work-life balance as top stressors. The two go hand-in-hand, since rising costs fuel longer hours to make ends meet. Notably, work-life balance was a more sought-after support to mitigate the stress, followed by better access to mental health resources.
“Inflation rates and other factors are affecting their businesses in ways that are harder to control, leaving many entrepreneurs resorting to working even longer hours just to stay afloat,” said Annie Marsolais, CMO at BDC.
Small business owners are just as mentally strained as medium business owners
You might assume these findings apply more to “bigger” business owners with 20+ employees. But the survey profile indicates that 88% of respondents have under 20 employees, with 56% having under five employees.
“As individuals, we can’t control the rates of inflation and the stress it may cause,” said Aviles. “But we can learn to manage our reactions to that stress. Learning how to do this is an opportunity to create separation between who we are and the work we do, which is healthy, and supports the work-life balance entrepreneurs are seeking to achieve.”
Read BDC’s full survey results.

Veronica Ott is a freelance writer and digital marketer with a specialization in finance and business. As a CPA with experience in the industry, she’s able to provide unique insight into various monetary, financial and economic topics. When Veronica isn’t writing, you can find her watching the latest films!
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