After all of the talk about “are we” or “aren’t we” in a recession, the Wall Street Journal reports that it appears that the people who know these things really think we can honestly say we are in a recession:
“The evidence is now beyond a reasonable doubt,” said Scott Anderson of Wells Fargo & Co. Thirty-six of 51 respondents, or more than 70%, said in a survey conducted March 7-11 that the economy is in recession.
So, the big question of the day for job seekers is this:
What impact does this recession have on your job prospects?
Penelope Trunk blogged today that A Recession Probably Won’t Affect Your Job Market.
She quotes experts who note that Boomers are expected to retire in droves causing a shortage of employees. (Click here for another take on what the Boomers may have planned.) Penelope suggests that even sectors that have been hard-hit by the economy such as finance and real estate should maintain their hiring. Trunk notes that “In terms of real estate…almost 60% of people working in this market will be retirement age by 2010.” In theory, there should be plenty of jobs to go around!
I agree with Penelope’s assertion that it is pointless to get all worked up about a recession. There are many steps to take to help make yourself more marketable and competitive in your search. If you need a job, job hunting at this stage may or may not be harder than it ever has been in the past.
However, the fact is, if you are out of work and can’t find a job, pundits and researchers aside…How you are impacted by the recession is based on your own circumstances. If you are a Boomer not ready to retire or re-invent yourself, this may be a difficult time for you. On the other hand, Gen Y job seekers right out of school may find many job opportunities (assuming they aren’t starting their own online firms!)
Back to the point of the job search being in YOUR hands…
I think most of us in the career industry agree that leaders, well-branded professionals and flexible performers who are on top of their career plans should do fine.
The key point is to be prepared, keep on top of your game and don’t let negative talk get you down. Opportunities happen for people who make them happen.