Coming Clean of the Recession aftermath

(I may have to post my economy-related write-ups here till the other blog spot, that seems to have a problem, is fixed. So here I go:

A lot is said about recession these days. People have different takes on it as to what it is and how long it will last. When there is negative growth for two quarters in succession, a slowdown is indicated. But when this slowdown is synchronized, that is other firms of the similar and dissimilar industries also face sliding profits, recession is said to have hit an economy. Amidst definitions and forecasts, some serious and some less-grim, it’s important for a job-seeker to take stalk of a situation and decide his course of action. Now, this job-seeker could be the one already with a job, but seeking a better one or the classical job-seeker, i.e. ‘the unemployed’. Here are a few facts to bear in mind while economy is going through its own roller-coaster ride.

* Always keep your eyes and ears open to the economic health of your nation, irrespective of the field of employment you belong to, as it always pays to know what you don’t know.

* When all is upswing with the nation’s economy, and the first sign of sickness comes through any of the three crucial industries, primary, manufacturing or service industry performing bad consecutively. This results in sustained inflation. It is now you should assess your career goals and job prospects.

3. Remember, recession is NOT uniform; it affects a few industries more than the others, and a certain work force more than the rest. To elaborate a few streams remain recession-proof such as Education, Health care, Security and such, which is to say that people will continue to study, or consult a doctor when sick or need a shield against crime however the economy might be doing. Similarly people with a back-up of specialized degrees like PhDs, MDs, MScs etc have less to jitter about. There are usually jobs for them. It’s only a workforce that is well-literate but is not specialized, who should defer their plans of job-change. Not that there are no jobs for them, but may have to settle for something that’s not their choice NO. 1.

Most importantly, recessions also come to end, education can always be upgraded as per the market needs, and job switch-over can be timed better as tools to combat slumps.