Joblessness presents a significant challenge in our nation, an issue that remains critical even with the U.S. average jobless rate having fallen to 4.9%. There’s skepticism regarding whether this positive trend truly permeates all age groups. Market Watch reports that nearly 40% of millennials are jobless, the highest figures being amongst 21 to 24-year-olds. 44% of recent college grads struggle to secure decent jobs, instead being relegated to low paying, dead-end positions. The burden of student debt makes finding a stable, well-paying job not just preferable, but a necessity. While layoffs can’t always be avoided, those with higher education qualifications have increased control over their employment prospects. Here are six concrete strategies to avoid long-term joblessness.
1. ATTEND MONTHLY NETWORKING EVENTS: Networking can be instrumental to your career progress as jobs may come via personal referrals. Many employers bypass advertisements in favor of personal referrals. Career fairs offer a reliable platform for networking, despite minor fees. Also, consider networking groups that align with your career interests. Career-oriented networking events in your home city or former colleges could be beneficial. Learning to face networking issues is crucial; consider a supportive friend if this helps. Networking not only helps build successful relationships but also exposes you to job opportunities you otherwise might never come across.
2. CONSIDER INTERNSHIPS FOR SCHOOLING OR RECENT GRADUATES: Internships are vital for avoiding long term unemployment. Often, employers prefer hiring entry-level candidates with internship experience. Being familiar with the workplace environment is valuable, so have an internship under your belt before seeking full-time employment. Several resources can help you find paying or non-paying internships, such as your college department, prospective internship establishments, or even websites like: Internship.com, InternMatch.com, Idealist.com, Experience.com, and SimplyHired.com. In addition to gaining experience and work references, internships help you build strong professional relationships.
3. REGULARLY UPDATE YOUR RESUME: Keep your resume updated more frequently than when needed for a job hunt. Opt for small enhancements every 3-6 months to ensure your resume is ready when requested. Enlist a trusted friend, family member, or mentor to review and provide feedback on your resume. Alternatively, leverage free community workshops to sharpen your resume writing skills.
4. ENGAGE IN ONLINE NETWORKING: Networking is not limited to real life; it happens online too. It’s simpler and can reep significant rewards. Connecting with people on LinkedIn, or interacting on company webinars, blog posts, or Twitter can foster new connections in your field. Encourage genuine interaction without focusing exclusively on potential career benefits.
5. APPLY FOR JOBS EVEN WHEN EMPLOYED: There’s a danger in becoming too settled in your current job. Maintaining an updated resume and LinkedIn profile, regardless of employment status, is always beneficial. Keep expanding your network and stay open to new opportunities. If your current job is unsatisfactory, draft a plan to transition to a new job without compromising your income.
6. INITIATE A SIDE HUSTLE: To ensure a continuous income stream, set up a viable side hustle in line with your skills and interests. The lack of job security makes income diversification critical in our current society. Extra income from a side hustle will act as a safeguard in terms of job loss.
So, have you faced unemployment? How did you tackle it? Do you have strategies to prevent unemployment, or do you have a backup financial plan?
