In terms of the technical definition, the United States is not yet experiencing a recession. However, that is little consolation for the more than 3 million Americans who filed for unemployment benefits last week. (And by many accounts, that is a conservative number.)
The effects of the COVID-19 pandemic are being felt far and wide, and that definitely includes within the employment marketplace. The hospitality and food service industries have been hit particularly hard, but there have been ripple effects throughout the entire economy.
With all of this in mind, below are four steps for adjusting and adapting in the face of a possible recession:
#1 - Start strategizing now (if you haven't already).
According to the U.S. Bureau of Labor Statistics, the average length of unemployment is between nine and 10 weeks. That's not to say that you're unemployed right now. That might not be the case.
However, this is information that you can use to strategize in terms of the rest of 2020. How much savings do you have? Would you be able to cover your expenses for three months, six months, or longer? These are the questions you should be asking.
#2 - Start preparing for a job search now (if you haven't already).
Even if you're currently employed, you should be preparing for a job search. That doesn't mean you should assume that you're going to be laid off in the near future.
You've probably heard this expression before: "Hope for the best and prepare for the worst." That, in a nutshell, is what we're advocating. Hope for the best with your current employment situation and prepare for the worst if something should happen.
#3 - Continue to grow your network.
We say "continue" because you should already be working to grow your network. Networking is something that all professionals should do, regardless of the industry in which they operate or the work they do.
Obviously, with social distancing all the rage these days, online networking is the way to go. In fact, now is the perfect time to maximize and optimize your LinkedIn profile.
#4 - Add to your existing skills.
In this case, we're talking about soft skills. Theoretically, you could also add technical skills, but that might prove to be more difficult considering current world events. By adding to your existing skillset, you're adding to the value that you could provide to a potential employer.
Time Staffing's team of qualified staffing specialists offers assistance to job seekers in the light industrial and clerical fields. We prep candidates thoroughly by answering their questions and addressing their concerns.
Earlier this year, Time Staffing won ClearlyRated's Best of Staffing Client and Talent Awards for providing superior service to their clients and candidates. ClearlyRated's Best of Staffing Award is the only award in the U.S. and Canada that recognizes staffing agencies that have proven superior service quality based entirely on ratings provided by their clients and job candidates. Time Staffing received satisfaction scores of 9 or 10 out of 10 from 75.4% of their placed talent, significantly higher than the industry's average of 45%.
Are you currently engaged in a job search? Then Time Staffing can help!
Contact us today to find out about the employment opportunities that are available in your chosen field.
Time Staffing Inc.