June 16, 2009

President Obama Predicts 10% Unemployment

In an interview with Bloomberg News’ Al Hunt yesterday, President Obama confirmed what most economists are predicting — that the rate of unemployment will reach 10% by the end of this year.

Although the rate of job loss has slowed over the past three months, employers have not started hiring new workers to keep pace with previous lay-offs.

“We’ve got to produce 150,000 jobs every month just to keep pace,” the President told Al Hunt.

In other words, the future is starting to look a little more secure for those of you who currently have a job. But for those of you still job searching, the job market is unfortunately still rather cold and will probably remain that way through the end of the year.

If you need some tips for finding a job during the recession, check out this post from last December with six tips for job hunting during tough times. A quick rundown of the tips:

1. Research recession-proof industries
Teaching, nursing, defense industry jobs – these are some of the most “recession-proof” sectors.  To learn more, check out this list of the top recession-proof careers.

2. Focus on Achievements
Rethink your resume in terms of measurable achievements. For more tips on how to do this, visit JobMonkey’s section on resume writing tips.

3. Volunteer

There are many benefits being a volunteering, from gaining real experience to getting your foot in the door with a future employer. For more on volunteering your way into your next job, check out these past blog posts:

4. Network, network, network.
Open up your Contacts and start making calls. Then ask those people to make some calls too.  Here’s more on how to network:

5. Freelance
Not all fields support freelancing, but if yours does, this is a great way to stay afloat financially during a job search, while strengthening your skills, enhancing your experience, and making great connections.

6.  Stay optimistic
If you are feeling downtrodden, it will show in your interactions with network connections and potential future employers. No, the economy isn’t booming yet, but your job search can be.

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