Have you ever repeatedly slammed your TV remote against your palm, desperately trying to make it work?

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What is stagflation? Stagflation is like an imperfect storm, a weather happening with lots of contributing factors. Stagflation is an economic condition caused by a combination of increasing inflation and high unemployment rates, which cause a decrease in consumer demand for goods and services.

In a good economy, there’s a balance, where slow steady economic growth is in step with consumer demand. With Stagflation, the economy is out of balance in a bad way.

What Does Stagflation Mean?

Stagflation occurs when high inflation happens at the same time as high unemployment. Despite recent growth in the unemployment rates, the country is still about 2 million jobs shy of employment numbers in pre-pandemic days.

The pandemic also caused problems that are contributing factors to Stagflation, such as supply chain issues. Lack of product contributes to inflation because rising prices are the result as consumers vie to purchase from an insufficient supply.

To understand Stagflation, economists look at the whole picture.

Is Stagflation a Recession?

What is stagflation, compared to recession? Sadly, and alarmingly, there are levels of Stagnation. At its worst, it’s an economic cycle that can lead to recession. Economic policy actions are taken to combat stagflation, such as raising the interest rates, as the federal reserve did in May and again in mid-June 2022.

Yet when the federal reserve raises interest rates in an effort to combat inflation, that can worsen unemployment rates – as employers fight to run their businesses while facing higher costs. When inflation jumps and the federal reserve approves interest rate hikes, a period of stagflation occurs. Stagflation at its worst is a Recession.

Stagnation Vs. Inflation

High inflation and unemployment rates affect each other. Higher inflation means consumer purchasing power lessens. They have less money to spend. When the money supply is tight for consumers – in other words, when their dollars don’t go as far – they pull back on spending.

That puts a crunch on businesses. During periods of inflation, leading to stagflation, no real economic growth can happen. Economic research has proven that businesses put growth plans on hold during such times. The businesses are also facing price pressures, as their costs for supplies, utilities and borrowing capital increase.

Stagflation Vs. Economic Stagnation

Economic stagnation is a period of no economic growth. It is a stage of stagflation, marked by higher prices for goods, including raw materials that businesses need, and services. Many economists would agree that as economic stagnation periods lengthen, the possibility of recession looms larger.

What Causes Stagflation?

Most economists define stagflation as being caused by these five factors:

Negative GDP Growth

GDP is the Gross Domestic Product, which is a measure of the country’s domestic output. Supply-side economists factor in the rate of inflation when calculating the true GDP.

For the past 2 years, the GDP has been in decline due to slow economic growth. Higher growth in the GDP indicates a healthy economy.

• Consumer Spending: As the largest component of GDP, when consumer spending falls, the entire GDP takes a significant hit. Consumer hesitation can be due to several reasons, such as future economic uncertainties or present financial difficulties.
• Business Investment: A decline in business investments, like capital expenditure or research and development, affects the GDP. Businesses may pull back on these investments when they foresee economic challenges.
• Government Spending: If governments cut back on their spending, perhaps to reduce national debt or in response to reduced tax revenues, GDP can be negatively impacted.
• Net Exports: A country’s GDP is also determined by its net exports. When exports fall or imports surge, it can lead to a negative contribution to the GDP.
• Natural Disasters: Events like hurricanes, floods, or wildfires can destroy infrastructure, property, and businesses, leading to a temporary decline in GDP.

High Unemployment

Unemployment rates have been decreasing since pandemic restrictions eased, but the economy hasn’t returned to pre-pandemic employment numbers.

At the same time, small businesses were largely unable to compete for workers compared to the higher wages that medium and large businesses could offer. The unemployment rate is low, but the US is still 2 million jobs less than pre-pandemic levels.

Unemployment and Stagflation	Description
Technological Displacement	As technology advances, certain jobs can become redundant, leading to unemployment in those sectors.
Structural Changes	Shifts in the economy, like moving from a manufacturing-based to a service-based model, can leave many without jobs.
Mismatch of Skills	Sometimes, there are jobs available, but the unemployed don’t have the necessary skills to fill those positions.
Seasonal Unemployment	Certain sectors, like tourism or agriculture, may have job fluctuations depending on the season.
Labor Market Rigidity	Inflexibility in the labor market, whether due to stringent labor laws or powerful labor unions, can also contribute to high unemployment.

 

Supply Chain

The pandemic caused supply shocks all through the chain, from production to delivery. As the economy faced a lack of supplies, the higher demand for items threw price controls out the window. Supply chain issues contributed to the rise of inflation.

Interest Rates

The federal reserve raised interest rates in hopes of keeping inflation from reaching the double digits and settle the economy. Inflation is a contributing factor to stagnation, as consumers and businesses have less money to spend. Discretionary spending decreases as money is set aside for necessities, such as financial obligations and utilities. When the Fed raises interest rates, central banks soon respond by also raising rates.

Inflation

High prices are part of inflation. Inflation affects businesses, who pay more for supplies and utilities. Their customers are facing the same challenges and reduces spending.

Stagflation and Economic Growth in the US

It’s not as if Stagflation is something new. It can be part of the economic cycle in every government. The US had a period of stagflation in the 1970s. Then-President Richard Nixon initiated a monetary policy that put a 90-day freeze on wages and prices, and levied a 10% tax on imports. Stagflation still hit its lowest point with a national recession.

How Stagflation Affects Small Businesses

Consumers and small businesses feel the pinch of stagflation. Here are the main ways:

Rising Prices

Small businesses are paying more for supplies, utilities, and financial obligations. Those costs are passed on as higher consumer prices, as businesses are forced to raise prices. It’s a trade-off.

Spiking Oil Prices

The rise in the prices of oil and gasoline/diesel has reached historic levels. The rate of inflation for oil and gasoline/diesel has been staggering. The country is facing an oil crisis, with the winter months to come.

Although unemployment rates are decreasing, the nation is still about 2 million jobs short of pre-pandemic employment levels.

Rising Interest Rates

When the Federal Reserve raises interest rates, the central bank responds to raise interest rates. The cost of borrowing capital increases for small businesses. Many small business loans have variable rates of interest. The rising interest rates increase the amount of monthly payments.

Supply Chain Issues

These issues will continue, as manufacturers struggle to find raw materials, and also sustain the costs to deliver the materials.

Consumer Confidence

As prices rise, consumers drawback spending habits, especially on luxury items.

Preparing for Stagflation

• Refinance any loan with a variable interest rate
• Shop for a business credit card that has a no-interest introductory rate
• Focus on customer relationships
• Focus on vendor relationships
• Pivot the business
• Cut expenses, such as travel

How Does Stagflation End?

There are three conditions that are part of stagflation – flat job growth, no wage increases, and a stale stock market.

Economic policy changes can slow stagnation and possibly help the economy turn around. If the three conditions worsen, stagflation ends with a Depression.

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This is to inform all candidates who applied for admission into the University of Maiduguri (UNIMAID) for the 2023/2024 academic session that the Post UTME/DE (PUTME) Screening Exercise will commence on Monday, 18th September 2023 and will end at midnight of Sunday, 22nd October 2023.

Candidates are advised to visit the website putme.unimaid.edu.ng for details on the procedure for online registration, requirements for the screening exercise, procedure for payment and other general information.

Candidates are to pay a non-refundable fee of TWO THOUSAND NAIRA (₦2,000) ONLY THROUGH REMITA PLATFORM.

Admission Requirements

• Only UTME and DE candidates who selected the University of Maiduguri as their first choice during the 2023 JAMB are eligible for the Screening Exercise.
• UTME candidates MUST have a minimum score of 140, except for those courses for which higher cut-off marks have been indicated on the university’s website.
• Candidates must meet the minimum UTME scores for their chosen courses and have the right UTME subject combinations as prescribed in the 2023 JAMB Brochure.
• iv. Candidates who do not meet any of the above requirements will be allowed to change to another course whose requirements they meet.
• v. All candidates must possess a minimum of five O’ Level credits in subjects relevant to their proposed courses, including Mathematics and English Language at not more than two sittings. In addition, Direct Entry candidates must possess a minimum of Lower Credit at National and/or Higher National Diploma Level(s) or Merit at NCE Level
• vi. Only O’ Level result print-out(s) downloaded directly from the website of the national examing bodies (WAEC/NECO/NABTEB) or photocopies of original certificate(s) will be accepted at verification.

CANDIDATES ARE TO ENSURE THAT THEIR O’ LEVEL RESULTS ARE UPLOADED ON THE JAMB CAPS PROFILE WEBSITE All enquires should be directed to: [email protected]

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Template files are modular and reusable files that make up WordPress themes. WordPress uses a template hierarchy to determine which template file (or files) to use on specific pages. 

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YouTube Cards are valuable tools for businesses on the platform. They play an important role in enhancing user engagement, a critical factor for success. In this article, we’ll dive into the ins and outs of YouTube Cards, equipping you with a comprehensive guide to make the most of this powerful feature for your channel.

Understanding YouTube Cards: A Brief Overview

YouTube Cards are a potent tool for boosting engagement in your business videos. They can provide benefits in a wide array of video ideas for YouTube. Let’s dive into what they are and why they matter.

What Are YouTube Cards?

YouTube Cards are sleek, interactive elements that pop up within videos. They can be links, images, or calls to action, subtly enticing viewers to engage further. As you get YouTube views, you can then drive traffic to other sources or even gather leads for your business. These unobtrusive yet powerful tools enrich the viewing experience. They are similar to elements on other platforms, like vimeo interactive video cards.

Why Business YouTube Videos Should Consider Using Them

For business videos, YouTube Cards are golden tickets. They boost engagement by offering relevant links, increasing traffic to your site or other videos, and delivering tailored messages to your audience. They’re the secret sauce to keeping viewers hooked.

Incorporating YouTube Cards into Your YouTube Channel Strategy

To make the most of YouTube Cards, integrate them seamlessly into your YouTube channel strategy. Use them strategically to keep your audience engaged, informed, and coming back for more. It’s all about crafting a captivating viewer journey.

Setting Up YouTube Cards: A Step-by-Step Guide

Follow these steps to set up YouTube Cards seamlessly.

Step 1: Accessing YouTube Studio from Your Channel

Log in to YouTube Studio via your channel’s dashboard and navigate to “Content” in the left menu.

Step 2: Selecting the Desired YouTube Video

Choose the video you want to add a card to and click the edit icon.

Step 3: Using the YouTube Video Editor for Cards

Within the video editor, find the “Cards” option and click the edit icon.

Step 4: Picking the Right Card Type and Crafting a Custom Message

Select the card type from Video, Playlist, Channel, or Link and create a compelling message to accompany it.

Step 5: Determining the Card’s Timing on the Video

Choose the ideal moment in your video for the card to appear, enhancing viewer engagement.

Step 6: Saving and Previewing Your YouTube Card

Click the “Save” button to save your changes and preview how the card will appear in your video.

Step Number	Step Title	Detailed Description
1	Accessing YouTube Studio from Your Channel	Log in to YouTube Studio via your channel’s dashboard and navigate to “Content” in the left menu.
2	Selecting the Desired YouTube Video	Choose the video you want to add a card to and click the edit icon.
3	Using the YouTube Video Editor for Cards	Within the video editor, find the “Cards” option and click the edit icon.
4	Picking the Right Card Type and Crafting a Custom Message	Select the card type from Video, Playlist, Channel, or Link and create a compelling message to accompany it.
5	Determining the Card’s Timing on the Video	Choose the ideal moment in your video for the card to appear, enhancing viewer engagement.
6	Saving and Previewing Your YouTube Card	Click the “Save” button to save your changes and preview how the card will appear in your video.

Enhancing Your Business YouTube Videos with Cards

Elevating your business YouTube game involves mastering the art of YouTube Cards. Let’s explore how to wield these digital gems effectively.

Designing Cards That Align with Your Branding

When it comes to YouTube Cards, consistency is key. Customize their appearance to match your brand’s colors and style. Ensure your message reflects your brand’s voice. This way, your cards seamlessly integrate into your video content and reinforce your brand identity.

Choosing the Right Moment: Timing Your YouTube Cards

Timing is everything with YouTube Cards. Introduce them at relevant moments to enhance viewer engagement. Place cards strategically when you want to provide additional information, direct traffic, or encourage interaction. Make sure they flow naturally within the video’s narrative to maximize their impact.

Types of YouTube Cards and When to Use Them

YouTube Cards come in various flavors, each suited for specific purposes and YouTube niches. You’ve got Video or Playlist Cards, perfect for promoting related content. Channel Cards help cross-promote channels. Donation Cards are great for charity drives. Poll Cards engage viewers, while Link Cards direct traffic. Tailor your choice to your goals.

Crafting a Compelling Custom Message for Your Cards

Don’t underestimate the power of words on your YouTube Cards. Crafting an enticing message is key. Keep it concise yet engaging, prompting viewers to click. Use action verbs, create a sense of urgency, and offer a clear benefit. It’s your gateway to higher engagement and interaction.

Crafting Engaging Teaser Text for Your YouTube Cards

Teaser text, the snippet of text on YouTube Cards, is like the cover of a book. It gives viewers a glimpse of what’s inside, piquing their curiosity.

The Importance of Getting it Right

A compelling teaser text entices viewers to click, boosting click-through rates and engagement. It’s your chance to reel them in, so make it count.

Best Practices for Crafting Teaser Text

Creating teaser text for YouTube cards is both an art and a science. It’s an essential part of ensuring your content gets the attention it deserves. By following best practices, you can significantly improve the chances of viewers clicking on your cards. Here’s a more detailed breakdown of how to perfect that teaser text:

• Keep It Concise and Relevant
  • Brevity is Key: Aim for short and impactful sentences. The goal is to get your message across in as few words as possible.
  • Stay on Topic: Ensure your teaser text is directly related to the video content or the card’s purpose.
• Address the Video’s Main Point or Benefit
  • Highlight the Benefit: What will the viewer gain from clicking on the card? Whether it’s learning a new skill or getting entertained, make it clear.
  • Tackle Viewers’ Pain Points: Addressing a common problem or question your audience has can make your teaser text more compelling.
• Use Action Words
  • Evoke Emotion: Use verbs that inspire action, such as “Discover,” “Learn,” or “Experience.”
  • Avoid Passive Language: Sentences like “This could be interesting for you” are less compelling than “Unlock the secret now!”
• Create a Sense of Urgency or Curiosity
  • Use Time-Sensitive Phrases: Words like “Now,” “Today,” or “Limited Time” can make viewers feel they might miss out if they don’t act.
  • Pose a Question: Asking a relevant question can provoke thought and encourage clicks. For example, “Want to master the art of baking?”
• Test Different Approaches
  • A/B Testing: Create two versions of a teaser text and see which one performs better in terms of clicks and engagement.
  • Seek Feedback: Ask your viewers or peers for their opinions on your teaser texts. They might provide insights you hadn’t considered.
  • Analyze Performance Metrics: Use YouTube analytics to monitor the performance of your cards. Adjust your strategy based on what the data tells you.

Teaser text for YouTube cards requires thought and strategy. By ensuring relevance, inciting curiosity, and frequently testing your approaches, you can effectively engage your audience and drive more interactions on your videos.

Common Mistakes to Avoid

Crafting effective teaser text for YouTube cards requires a balance of engagement and authenticity. It’s easy to fall into pitfalls that can decrease your video’s credibility or confuse viewers. Here’s a breakdown of mistakes to avoid and ways to sidestep them:

• Avoid Vague Teasers
  • Non-specific Language: Phrases like “Check this out!” or “You won’t believe this!” don’t provide viewers with any context or incentive to click.
  • Tip: Always offer a hint about what the content will provide or how it will benefit the viewer.
• Never Promise What You Can’t Deliver
  • Misleading Clickbait: Touting a groundbreaking revelation in your teaser when your video provides common knowledge can disappoint viewers.
  • Tip: Match your teaser text’s promise with your video content. It’s okay to intrigue, but ensure you deliver on the tease.
• Stay Away from Overhyping
  • Excessive Adjectives: Using words like “mind-blowing,” “earth-shattering,” or “revolutionary” for content that doesn’t measure up can erode viewer trust.
  • Tip: Aim for authenticity. If your content is genuinely extraordinary, let it speak for itself. Viewers appreciate honesty.
• Maintain Truthfulness and Alignment with Video Content
  • Irrelevant Teasers: A teaser that doesn’t match the main content can lead viewers to feel misled.
  • Tip: Think of the teaser text as a mini-summary. It should encapsulate the essence of the video or the particular segment you’re highlighting.
• Avoid Jargon and Complex Language
  • Industry-specific Terms: Not all your viewers may be familiar with niche terminologies.
  • Tip: Use simple and universally understood language unless your content is explicitly targeting a specific professional or expert audience.
• Stay Clear of Negative or Offensive Language
  • Controversial Statements: These can alienate or offend a portion of your audience, leading to negative feedback or decreased engagement.
  • Tip: Keep the teaser text positive and inclusive. Aim to attract viewers, not push them away.
• Refrain from Overloading with Information
  • Too Much Detail: While details are essential, a teaser shouldn’t be an information dump.
  • Tip: Give just enough information to pique interest. Let the video provide the depth.

In essence, when creating teaser text for YouTube cards, prioritize clarity, honesty, and relevance. This approach not only attracts clicks but also ensures that viewers stay engaged and feel valued.

Monitoring and Refining Your YouTube Cards Strategy

Now that you’ve mastered YouTube Cards, it’s time to fine-tune your approach for optimal results.

YouTube Analytics: Measuring the Impact of a YouTube Video Card

Don’t underestimate the power of data. YouTube Analytics helps you gauge the effectiveness of your cards. Monitor metrics like click-through rates and viewer engagement. Use this insight to tweak your strategy for better results.

Common Mistakes to Avoid When Using YouTube Video Cards

While cards are amazing, misuse can turn viewers away. Avoid spamming with too many cards, misleading messages, or irrelevant links. Keep it user-friendly and valuable to maintain trust and engagement.

Balancing Engagement: Avoid Overloading Videos with Multiple Cards

Less can be more when it comes to YouTube Cards. Bombarding viewers with numerous cards can overwhelm and distract them. Strike a balance by using cards strategically, ensuring they enhance the viewer’s experience rather than cluttering it.

The YouTube Partner Program’s Role in Maximizing YouTube Cards for Business

The YouTube Partner Program (YPP) is a gateway for content creators to monetize their channels. To join in 2023, you need 500 subscribers, 3 public uploads in 90 days, and 3,000 watch hours in the past year.

Monetization and Advanced Features

YPP unlocks monetization options like ads and channel memberships. It also grants access to advanced features, including external website links in YouTube Cards. These tools open up revenue streams and elevate your video marketing game.

Leveraging the YPP for Business Growth

For businesses, YPP offers a chance to supercharge their video strategy. Monetization can boost revenue, while advanced features like external links in Cards can drive traffic to your site or products. It’s a win-win for those willing to meet the YPP criteria.

FAQs: YouTube Cards

What’s the difference between the old YouTube Video Manager and the current YouTube Studio?

The old Video Manager was simpler, while YouTube Studio offers advanced analytics and features for managing your channel effectively.

How can a YouTube card direct viewers to related videos within my channel?

They can link to related videos, playlists, or your channel homepage, keeping viewers engaged with your content.

Are YouTube cards optimized for display on mobile devices?

Yes, they are mobile-friendly, ensuring a seamless experience for viewers on smartphones and tablets.

Does the inclusion of YouTube cards impact my video’s visibility in YouTube search results?

No, they don’t directly affect search visibility. However, they can enhance viewer engagement, potentially indirectly benefiting your video’s ranking.

Image: Envato Elements

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Applications are invited from suitably qualified candidates for admission into various National Diploma programmes for the 2023/2024 academic session in BELLARKS POLYTECHNIC, Kwale, Delta State.

Eligibility

Candidates who sat for the 2023 JAMB-UTME and had chosen the Polytechnic as their first choice should visit the School Campus or school website to register online.

Also, candidates who did not choose the Polytechnic but scored 100 and above are eligible to apply and will be required to register at the JAMB e-facility portal via https://efacility.jamb.gov.ng/ and make the polytechnic as first choice.

Bellarks Polytechnic Courses

• Business Administration and Management
• Public Administration and Management
• Statistics
• Computer Science
• Computer Engineering
• Electrical/Electronic Engineering

For more enquiries, visit: www.bellarkspoly.edu.ng

Call: 08106703725

Let me know if you have any questions or need further clarification. I would love to assist you.

You can watch my videos on the Studentship YouTube Channel by clicking here.

Join my Facebook Group or Like my Facebook Page for more interactive discussions.