My Thoughts on The Job Market, the State of Job Search, Layoffs and Current Events - Week Ending 3-27-20

Everyone

I wanted to share with everyone my thoughts on the job market, job search, layoffs and the effect of the Coronavirus on jobs in the near term along with potential courses of action to take in both the near and long terms. Today is Friday - March 27, 2020

I have really been on the front lines again this past week, speaking with job seekers in South Africa, Hong Kong, France and all around the United States. The big news of the week was yesterdays unemployment figures. There were 3.823 million unemployment claims this past week. Although this figure is almost 15X the normal monthly claims, it still may be misleading and understated.

State unemployment offices and websites have been overloaded with some actually crashing. This means that many claims may not have been processed and many people were frustrated and will try again next week. It also does not include self employed people that don't qualify for unemployment. I personally received messages from several of my clients stating that they were laid off this week. So next weeks numbers could be much worse.

The longer (although necessary) shelter in place orders stay in effect, or if new or expanded shelter orders are issued, the longer it will take for people to get back to work. Remember, in a normal economic downturn, companies have revenue shortfalls of 10-20% . In this economy, some companies went from having consistent revenue, to having no revenue at all. Companies are still trying to figure out what to do.

If you were laid off this past week, log on to your states unemployment websites in off hours (very late at night or very early in the morning). The traffic volume will be considerably less and the setting up of your account and profile will be easier to do. In addition, you need to be aware that even though your accounts have been setup, because of the enormous increase in claims, you may not receive your first check for 21 days. Don't worry, the check should include retroactive pay. The United States Government should pass the Coronavirus relief package today but it may also be several weeks before you start receiving assistance.

It is important to immediately assess your current situation, your expected status over the next few weeks and for the months after that. If you are currently out of work, don't wait. File your unemployment claims and start putting the pieces together for a comprehensive job search. Resume, cover letters, job board registrations, alerts and updating and optimizing your LinkedIn profile. Do you feel safe in your current job? If not, or if you think you may get laid off in the next few weeks, don't wait. Start putting the pieces together because in a few weeks, there may be several million new workers out of work.

It is also important to remember that some industries will be tremendously impacted in both the short and long term. Some industries, may only be impacted in the short term and will rebound back to normal levels. So, it is important not to overreact because mostly likely you will be able to ride it out. If you have even the slightest doubt, starting putting the pieces together. Waiting a few weeks could cost you months towards your search.

In terms of how the new unemployment rate may impact foreign workers, for one thing, the process of bringing them to the United States at this time has become very difficult. With the cancellations of interviews at U.S. Consulates abroad, the new travel bans introduced, the suspension of services like premium processing by the U.S. Citizenship and Immigration Service and the closing of field offices, the flow of legal immigrant workers into the U.S. has been severely disrupted.

If you get laid off during the COVID-19 pandemic, you’re not alone. Job loss is rampant among businesses ranging from movie theaters to aerospace manufacturing. Unemployment claims have skyrocketed to record highs, and things are only getting worse: Experts predict up to 37 million jobs could be cut in the next few months, and the country’s unemployment rate could reach 30% (it’s currently 3.5%.

As Congress finalize a stimulus package, the Department of Labor is doing what it can to ease the hurt on individuals affected by cutbacks and shutdowns. It’s set up a website, CareerOneStop.org, with a compendium of resources for the unemployed.

Here’s Some of What it Offers:

Option to search based on the type of worker you are: The site sorts resources into categories such as “laid-off worker,” “older worker,” “career changer,” and “worker with a criminal conviction.”

Industry insights: To help you decide on a career direction, the site contains recent data on which industries are the fastest growing and highest paying, and which have the most openings. It also displays employment patterns for more than 800 occupations.

Skill and interest assessments: A 30-question “Interest Assessment” quiz and 40-question “Skills Matcher” tool allow you to narrow down potential paths based on what you like to do and what you’re good at.

Funding finder for training programs: The site offers a filterable list of 8,220 scholarship, fellowship, grant, and financial aid awards to defray the cost of training or education.

State-by-state directories: The site offers economic profiles and labor market information for each state, including employment projections, wage rates, government jobs and job banks, and unemployment benefits.

Layoffs have started in the airline, hospitality, retail and oil and gas industry, auto, manufacturing and sports and entertainment. This will create a ripple effect to other industries.

So what does this all mean. In my 35 years of experience in the job market as an applicant, a hiring manager and a global recruiter..... DONT WAIT. People are taking a wait and see attitude on whether to step up their job search. Don't

In my professional opinion, this is the wrong action to take. Start putting together the necessary pieces for a comprehensive job search. Resumes, cover letters, job board registration, setting up customized alerts, updating and optimizing your LinkedIn profile and investigating remote work as an option.

No one but you is responsible for your job search and finding another job. Not your current or former employer or the Federal Government.

It takes a few weeks to put the foundation together for an effective job search (resumes, cover letters, job board registration, alerts and LinkedIn profiles. It will then take a few weeks more to apply to potential job openings and have them in process. Companies have only just started to feel the economic impact. Over the course of the next few weeks and months the transportation, travel, hospitality, manufacturing, automotive and retail industries will be hit the hardest. But there will also be a greater ripple effect to other industries.

Getting started now will put you ahead of everyone else. 

If you are interested, I can have everything in place and applications to specific positions in process within a few weeks, before everyone else has even decided what to do. You need someone that understands the job market and the technology from an applicant, hiring manager and global recruiters perspective.

Career and Job Search is what I do. It’s the only thing I do. It’s the world I live in and I do it very well. 

If your interested in hiring me, I can definitely help. If not, you still need to get started. Don't wait on the sidelines

If you are interested, here is a link to my calendar for the next few weeks. I encourage you to schedule a 30-minute, no obligation call to discuss your background, experience and the types of positions you are seeking. I even have available weekend hours if needed.

https://JobSearchCoaching.as.me/KenZwerdling

Digital Job Search Course

I have been providing personalized one on one coaching for the past several years and decided that I wanted to make this information available to everyone that is interested in finding their next job, on their own. So, I spent the last several months developing a career job search course that condenses 35 years of experience into a 3-hour comprehensive course.

If you are interested in putting your own comprehensive job search together we have developed a comprehensive Digital Job Search Course

This digital, on-demand course breaks down the entire process of finding a job into tiny manageable steps that help job seekers tell their entire story….BETTER, find and apply to more job openings with a comprehensive resume, cover letter, job board registrations, daily job alerts, create an awesome LinkedIn profile, land more interviews, get more job offers and negotiate higher salaries.

To Learn More About The Digital Course -Visit: HERE

Be Safe

Regards,

Ken Zwerdling – CEO, MBA, Global Career Coach

Global Expansion, Inc.