Employment numbers are proving to be as shaky as the economy. In some places and sectors, employment numbers are starting to level out, or at least not fall so quickly. In other places, the numbers are still looking bleak.
In the US, total employment has been down for 18 consecutive months. The most recent numbers indicated that 467,000 jobs were lost in June. That is not encouraging, though the number of jobs lost has been decreasing almost every month since December, 2008. The number of mass layoffs has also been on the decline since the beginning of 2009.
All of this talk about how bad the economy is can be really depressing, so it is a good idea to think about the positives. Many of us still have jobs. If you are out of work, this might be a good opportunity to continue with that college degree you always wanted.
If you are unemployed, this might be the time to turn your hobby into an income source. It might be a good chance to give that entrepreneurial idea a go, though don’t throw your entire savings into it. If you are out of work, but an expert in a highly skilled field, you might be able to find contract work as a consultant. You might be able to self teach web design or graphic arts and find freelance projects. If you enjoy writing, you can start a blog for income or do freelance writing gigs.
The point of this is to remind you all that, even if it feels like it, this is not the end of the world. The economy always turns around. You are smart and will recover. Be resourceful. Enjoy the vacation.
Some things to remember when you are unemployed, though, that could get you into trouble later on:
- Do not, under any circumstances, take money out of your retirement accounts to fund your current needs. You will have to pay severe taxes and penalties on the funds you withdrawal.
- Enjoy the vacation from work, but do not live like you are on vacation if you can’t afford it. Make sure your savings stretch as far as possible until you find a new income source.
- Don’t freak out. Everything will be okay in the end.
