According to Sify News today, the unemployment rate in the nation is currently at 9.7%, the highist in 26 years. That’s with the job cuts being at it’s lowest this year, with 216,000 labor jobs cut in August.
What do these numbers mean? First of all, the unemployment rate is higher because it’s including those who did not find jobs from the months before. It is also high because blue collar jobs such as construction (with 65,000 job cuts) and manufacturing (with 63,000 job cuts) are being cut at a faster rate then white collar jobs, with the exception of the financial institutions (with 28,000 job cuts).
However, this report should not scare anyone. For one, the Department of Labor is working to bring in more jobs and make the job cuts even lower next month according to Secretary Hilda Solis. Remember that the stimulus package is slowly starting to fund many infrastructure projects which will help the construction sector. I do believe the government needs to mandate the overseas job sourcing for cheap labor. However, that idea will have to wait for another blog.
What can you do when you hear something like this? What ever you do, DO NOT PANIC! You would be surprised how many jobs are available out there, especially in many metro areas such as San Francisco Bay Area, New York City, Houston and Miami. At least in San Francisco where I live, companies are going out of their way to not have any layoffs, but pay cuts so that their employees maintain their jobs. You will have to work harder then just posting your resume on an online job board. You’ll have to expand on your network, utilize the social media and even make a few cold calls. Organize your time as to what your tasks are in order to get back into the work force. Something as simple as looking up templates to perfect your resume can do you a lot of good in the near future.
If you are self employeed as I am, you will have it tougher getting those contracts when businesses are on a strict budget. If you are willing to take on part-time job or even a second job along side your freelance work, I recommend you do so. I also recommend to all my job seekers to take refresher courses in their fields at their local community colleges. If you used to work in the construction or manufacturing sectors, I recommend going back for higher education in another feild or even a certification in a similar sector. It is never to late to pick up new skills that could even help you improve the skills you already have. The Department of Education is encouraging it if anything, they are helping fund it! I had much of my BSBA student loans bought out by the DoE at an extremely low interest rate!
In short, there is much hope in getting back into the workforce by doing your research, organizing your job search tasks, as well as going back to school. Until next time, fear not the unemployment rate reported, stay positive as you continue to work towards your goal.
Happy Labor Day!