Surviving the Jobless Recovery
The road to economic recovery has started. On the other hand, the job market may still take longer to recover. That is why economists call the situation a jobless recovery. Many questions linger on people’s minds. How can the economy recover if unemployment rate is high? How can we survive a jobless recovery?
Probability of a jobless recovery
The concept of a jobless recovery started during the last two recessions in 1990-1991 and 2001. That time, as the economy recovered, the job market failed to follow suit. And economists believe that it is highly probable for another job recovery to occur as 467,000 more people lost their jobs in June. Unfortunately, the job recovery today could be worse because many of the layoffs were permanent.
Think positive
Positive thinking is a powerful weapon especially during trying times. How can you still think positive?
First and foremost, this is not the first jobless recovery to occur. After the jobless recoveries before, the economic and job markets were able to bounce back. This means that job recoveries do not take forever. These scenarios are only temporary. And there’s no reason to get too pessimistic about the future.
Instead of wallowing in fear and disappointment, you must think of ways on how to survive the jobless recovery.
Be creative
There are so many ways by which you can make ends meet. Be creative and imaginative in thinking of ideas.
Many different job opportunities opened up when recession began. You can explore many of these different ventures and see which one can become another income source for you — home-based jobs, online selling, direct selling, your own business, freelance jobs, part-time jobs, and many more. These may not be paying as much as your full-time job but these can still be viable income sources. Having more than one source of income is very important as more layoffs are predicted to occur in the near future.
Be indispensable
One important lesson in this recession is that as an employee must become recession-proof or indispensable to the company. Can this be done? Definitely!
Learning is a never-ending process. To make yourself a vital part of the company’s workforce, you must continuously improve your craft and master your skills. First, always accept challenging assignments. These will be great opportunities for you to learn. Second, enroll in a master’s or doctorate degree courses to further increase your competitive edge. And third, get additional training. If your company offers bonded trainings, grab the opportunity of getting into one. This way, you are getting more training and job security within the scope of the bond.
At work, having a positive attitude is also a plus. Many bosses like having employees who are optimistic and light-hearted. Networking with your bosses is also a good strategy.
A jobless recovery is not all about doom and gloom. It may take more time before the situation gets way better. But you can find hope in the fact that this will not last forever. So while at it, you can learn to stay positive and to recession-proof your job.
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