Industry analysts are sounding the alarm that unemployment may go in to double digits before peaking. If this happens, who is more likely to lose their job?
Most of us have personal stories of friends or family who have lost their job in the recent economic downturn. One of the few industries that are still safe from job losses may be my wife’s. She works for a county bureau of jobs and family services. Their job is to provide food stamps (now called a “directions card”) cash assistance, and healthcare to those who can’t afford it or have lost their job. Many of these people are victims of the economy.
According to the latest data, unemployment is over 9% nationally with pockets of America being much higher. For example, in the county where my wife works, it is 13%. Not far down the road, nearly an entire city is unemployed due to DHL moving out of the United States. (Wilmington, Ohio was the subject of a 60 Minutes report)
There is an interesting angle on the unemployment epidemic. Did you know that if you are a male, you are much more likely to be unemployed? In fact, The Financial Times reports that 80% of everybody who is unemployed are male.
Why? Because the sectors of the economy who have been hardest hit are construction and manufacturing. These are male dominated. In contrast, the sectors who have lowest rate are healthcare and education. All of these human services oriented jobs are referred to as consumer staples. No matter how bad the economy is, we all need healthcare, education is federally mandated, and county services that help those in some sort of emergency in their life are immune to the economy.
If you have found yourself unemployed, what is one of the best things you can do? Educate yourself. If you are being forced not to work, think of education as a career move that will pay you in the end. You may not have ever considered it while you had a job but now you don’t. What better time?
The good news about unemployment is that, like the economy, what goes down will soon recover. Jobs will come back and it’s not your fault. The natural moves of the economy have nothing to do with your worth as a person.
If you know somebody who is unemployed, help them and if you’re one who isn’t working, hopefully, somebody is helping you.