Tuesday, January 18, 2011

Changing Our Paradigm on Jobs

A look at the latest figures from unemployment show are mixed.  While it is good that the unemployment rate fell from 9.8% to 9.4% in December 2010, job growth remains underwhelming at 103,000.  According to an estimate from the Economic Policy Institute, we would need to see an average growth of nearly 300,000 jobs for a period of five years to return to pre-recession employment levels.  Since it is likely we will not see much of a change in the labor market, how do we fight frustration and find inspiration in landing gainful employment?

Even with unemployment rates near the double-digits over the last year, the overall picture is worse when one takes into account the underemployment rate.  The underemployment rate remains very high at 16.7% as of December.  This measure attempts to count the jobless, who have dropped out of the labor force.  Economists refer to them as the discouraged workers and are not included in the official unemployment rate figures.  It also accounts for individuals employed, but are working at wages that are vastly different from their skillset.  An example would be a law school graduate flipping burgers at a local fast food restaurant.

Given the dire labor market, it is easy to see that the psychological toll of unemployment can be significant.  In particular when you are the main bread winner, it can be very discouraging to find out that you can no longer support your family.  In some instances, this leads one into a tailspin where multiple rejections results in them dropping out of the labor force altogether.  It is vitally important that people fight this urge to give up because sustained periods of idleness will result in skill erosion and further limit your marketability.

Now is the time to take inventory of your career and establish a plan of action.  First, have a positive attitude and rid yourself of people with negative thoughts.  It is essential that you maintain a healthy outlook and a strong faith that your efforts will not be in vain.  When you surround yourself with pessimistic people, you are potentially inflicting damage to yourself and that could lead you to not reach your destiny. 

Next, do a careful assessment of your strengths and weaknesses.  Think back to previous jobs and determine if they were ideally suited for your personality, mindset, and skill levels.  In order to learn about yourself, seek out career services that offer testing to determine what career is best suited for you.  In particular, personality tests offer good insight on yourself and where to target your occupational pursuits.  While it is possible that those tests come with a fee, they can be a good investment if their results can quicken your job search and lead to more successful job leads.

With your additional free time, make sure to obtain balance.  Do not spend all of your time seeking a job.  Consider it a blessing to have more time to spend with family and friends.  That can involve connecting more with your children or spouse.  You also want to exercise more.  You will be amazed how increased physical activity will improve your outlook and energy level.  Lastly, always seek to improve through reading more.  Establishing regular quiet time to enjoy various pieces of literature can be relaxing, along with minimizing the erosion of skills from long periods of unemployment.

Even though it is easy to focus on a poor economy, look at it from a new perspective.  Realize that you control your destiny and no one can deny your blessings and favor.  Stay positive, identify strengths, and seek balance.  When that occurs, do not be surprised when your outlook changes for the better.