In an ideal world, we’d be holding hands and cheering our praise at the global markets’ speedy recovery in combatting Covid-19 and people getting the opportunity to return to their livelihoods after a long period of lockdowns and restrictions. Sadly, much of the world has hit a plateau in its progress towards an economic rebound. The job market, specifically, still stands at a 6.1% unemployment rate, unchanged from the previous month’s job report.
As a result, this has left an unpleasing aftertaste among the weary labor workforce, that despite their struggles and the efforts of unemployment benefits to support them, everything might still be for naught if the weak job market continues to instill a lack of confidence and distrust. Therefore, we think it’s highly relevant that we discuss how people can secure their employability amidst all the market uncertainty. Still, we must understand where all this negative market sentiment originates.
Why The Job Market Isn’t Looking Too Bright
It’s evident and undeniable that the Covid-19 global pandemic is the origin of this economic recession. Still, specific aspects of the health crisis prevalent today have rendered much of the progress less optimized and close to obsolete. Namely, we can point out that (1) partial employment recovery and (2) restricted operations in major industries are the factors at fault, and unless these issues are resolved, the job market will always be on its back foot.
Only Partial Employment Recovery
Investors, analysts, and the general population expected regional markets to support a boom in recovery as vaccination rollout programs and easing restrictions enable more freedom and movement. However, much of what’s expected is still left to be seen because the job market had only experienced partial employment recovery, staggeringly lower than the would-be optimistic forecasts. And if this slow and undesirable trend refuses to budge, it might be a couple of years before we reach pre-pandemic levels of growth.
Restricted Operations In Major Industries
Supply chains are still depleted, and the health hazards remain at large, which both prevent all major industries from operating at full capacity. And while companies would more than appreciate extra hands and employees on the work floor, the solution of scaling up production is not as simple as it sounds. As a result, the interplay between the inability to hire talent and logistical issues force industries to work within the limitations.
What You Can Do To Remain Employable
With these gloomy developments and news in mind, there are ways for you to remain employable despite the apparent downturn of events in the job market. And you’ll want to exercise as much caution as you would resilience because no competency is more important than your ability to adapt to the new normal. So, ensure that you tailor and apply the advice mentioned below to your respective industry and field of expertise.
#1 Bump Up Your Technical Skills And Specialize
While being a jack-of-all-trades may seem tempting, the digital migration of businesses and surge in E-commerce calls for more technical skills and job candidates specializing in key areas of demand. So, instead of trying to funnel every skill imaginable, identify and isolate the ones relevant in your field that also present the greatest opportunity of advancing in your career.
Furthermore, it doesn’t hurt to add more qualifications under your belt because this will boost your overall appeal to potential companies. With education systems now fully online, you can slowly work on your master’s degree or preferred certifications during your off-hours. Evidently, it may seem like a lot of work upfront and rightfully so, but your honest hardships today will bear fruitful growth soon.
#2 Explore Other Employment Opportunities
Considering that many industries are stretched too thin, it never hurts to explore other employment opportunities and different job sectors that can provide long-term employment and better conditions. People often build from the misconception that changing careers is too much of a hassle, but there’s no better opportunity to segue than the chance we have right now.
For example, many speculate that the aviation industry, despite the losses incurred throughout 2020 and in the current year of 2021, will grow and remain relevant regardless of the setback, meaning that working on your private pilot license might not be a bad idea. And many industries like it have received the short-end of the stick but refuse to bite the dust, so know that cards you’ve been dealt and don’t be afraid to tread new waters.
Secure Your Future
In conclusion, while the current job market is nothing we can be confident about, we should do everything in our power to secure our future and stay afloat in case of abrupt economic turbulence. So, remember to approach any opportunity you get with caution and understand the risks of every venture you choose to traverse.