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SPRING AG
Wednesday, March 13, 2013
Challenges: Unemployment in agriculture was far higher than most other industries in 2012 From Page 5 Climate change is another environmental issue farmers must deal with. Strong storms and severe droughts have made farming even more challenging.
Financial fall-out The ongoing recession of the last half-decade has also affected farmers. In November of 2012, the United States Bureau of Labor Statistics indicated that the unemployment rate within the agriculture, forestry, fishing, and hunting industries was at 13.6 percent, far higher than the national unemployment rate. As a result, many farm families have found themselves stuck between a rock and a hard place, as rising costs for equipment and technology are being coupled with decreasing profits and rising unemployment. Further complicating matters is competition from corporations and international food producers who have made it difficult for family farmers to turn a significant profit. Many family farmers rely on loans and lines of credit to survive, but thanks to changes in the financial sector that saw banks become less willing to extend lines of credit, some farmers are facing bankruptcy. Though it can be easy for those who do not work in the agricultural industry to overlook the struggles facing today’s agricultural professionals, a greater understanding of those struggles and the challenges that lay ahead can benefit the industry and its employees down the road.
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Hector 320-848-2296
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Lafayette • 800-642-4104 Hector • 320-848-2296