Job Searching in an Uncertain Economy
You may have heard the news that jobs are being cut and unemployment is rising. Here are some tips to help you stay ahead and still land a great job after graduation. Stay tuned, as we will continue to update this space with more information on how the economy will effect you in your job search.
Our blog also has a ton of articles on job searching in this economy.
Job Searching in an Uncertain Economy Presentation
Slides and notes from a recent presentation on Job Searching in an Uncertain Economy.
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The key thing to remember about job searching in a recession is that things aren't bad for everyone. Find your niche and you can thrive! |
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If you have been paying attention to the news at all, you have heard that the unemployment rate continues to climb, but you have to look at who is unemployed as well. Of all the unemployed, new entrants into the workforce (that is you, as a recent or soon to be college grad) is in the lowest percentage.
Remember, even with high unemployment rates such as 25% as we saw in the great depression, that still means 75% of people are employed. There are jobs, you just have to work harder to find them and land them.
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Even college hiring is predicted to be down. But again, look to where hiring is still happening. In this economy, people are predicting that smaller companies are looking to increase hiring more than larger ones. |
| With a further look at who is unemployed, you can see that people with a bachelors degree or higher are the smallest group of the unemployed. And it still pays to have a higher degree, generally speaking, the higher your level of education, the lower the unemployment rate and the more money you make. |
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Again, you are in a good position here in the South West. College hiring is expected to decrease less here than in other parts of the country. |
| As you can see, over the past three years, we have also seen a decline in the number of jobs being posted on CareerRAM, our job posting database. |
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Based on past recessions, these industries are generally a little more stable. |
| This recession is different for a lot of reasons, and it has gained the attention of the government. The new administration's economic initiatives may have an impact on which industries will thrive in this recession. |
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Think like a free agent! What can you offer that can't be automated or shipped overseas?
Watch a quick 1 minute video of Daniel Pink.
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Daniel Pink, in his book A Whole New Mind, talks about the 3 A's that have been impacting our economy for the last several years. Asia - cost of living is lower and there are plenty of skilled workers, due to computing and high speed networks, jobs can be done up to 75% cheaper overseas. A recent Harvard Business School study estimated 21-42% of US jobs are potentially offshorable. Abundance - we have so much stuff, it is no longer enough to produce something reasonably priced and adequately functional, it must also be beautiful, unique, and meaningful (think iPod vs other mp3 players). Automation - anything process based or rule based is being automated by machines or computers. |
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Think about what skills and experiences you have and how they can be used in other jobs.
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Creating a resume focused on the job you are applying for is a must to set yourself apart from all the people that have one generic resume!
If you are unemployed, don't just stay at home! Get out and get involved with groups and organizations to continue building your resume and meeting people.
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