Increase in Unemployment in 2008 – Coaching Through a Recession

Increase in Unemployment in 2008

We kicked off our Coaching Through a Recession show with a discussion about the current state-of-the-state in the U.S. economy. When I asked John Challenger the question “are we in a recession,” his answer was yes.

One of the topics both John and Rich Milgram discussed was unemployment.

John shared there are 1.6 million more people unemployed this year than there were at this same time last year. He followed that up by emphasizing there has been a steady increase in the amount of unemployed workers every month in 2008. Some additional themes that came up on our show related to this:

More people are taking part-time jobs to make ends meet in the current economy. (1.4 million more people are working in part-time jobs this year than last year)
Experienced professionals with more than 7 years in the workplace are willing to take lower paying jobs to make ends meet given the current economic state.
Companies aren’t as willing to hire or invest in recent college graduates or professionals with less than 5 years of experience due to the amount of workers with more experience looking for jobs.
The end doesn’t appear to be in sight yet – it’s been slow going into this economy, and it’s going to be slow coming out.

What have your observations been? Share your thoughts and stories.

Do you believe we’re in a recession?
For job seekers out there, are you finding it more difficult to find work in the current economy?
Are more people taking jobs with lower salaries or supplementing incomes with part-time jobs to make ends meet?

Your Insight on Coaching Host,

Tom Floyd

CEO

IEC: Insight Educational Consulting

Specializing in Management Consulting, Change Management, Workforce Performance, and Employee Development

Coaching Through a Recession

Coaching Through a Recession | tfloyd | August 28, 2008 10:39 am | Comments (0)

Coaching Through a Recession

According to a survey that appeared in the April 28th, 2008 issue of USA Today, two-thirds of 52 economists polled said the U.S. economy is in recession.

As quoted in the August 9th 2008 issue of Newsweek, according to the Bureau of Labor Statistics, the national unemployment rate is now at 5.7 percent, the highest level in four years, and now with two consecutive quarters of falling GDP, “America is bracing for a recession.”

Combine the above with rising energy prices, an unstable financial sector, and an overall decrease in the amount of jobs available, many people are nervous about the impact of the economy on their livelihood and careers.

In his article titled “Strategies for Surviving the Slump”, BusinessWeek writer Chris Farrell says “The big fear during a recession is layoffs, and the best move may simply be to try to make your current position more secure.”

But how can you make your current position more secure during a recession? Is it possible to recession-proof your career?

And how can coaches help you survive a recession?

Our panel of experts address these questions and more.

Highlights of the show include:

A discussion of the indicators and trends that indicate our economy is in recession.
Why it’s important to not let fear and self doubt consume you during a recession.
How to successfully market yourself during a recession.
Strategies to help you “stay on the island” in the workplace during a recession.
Why skills like relationship management and networking become even more important during a recession.
How coaches can guide and motivate people during a recession, as well as help them retain and find jobs.

Featured Guests:

John Challenger, CEO, Challenger, Gray & Christmas, Inc.
Krishna De, Employer Branding and Employee Engagement Strategist and Commentator
Wendy Enelow, Coach and Author of 101 Ways to Recession Proof Your Career
Amy Lindgren, Expert, Columnist, and Founder/President, Prototype Career Service
Rich Milgram, Founder and CEO, Beyond.com, Inc.

Tom Floyd
CEO
IEC: Insight Educational Consulting
Specializing in Management Consulting, Change Management, Workforce Performance, and Employee Development

Coaching Through a Recession

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