Job Security In A Hurting Economy
What do you do for a living? I work as a secretary in a law firm. I have a great boss I’ve been with for almost 10 years, my half hour commute to work is very peaceful, the pay is competitive and I have no real complaints. There is one thing however I don’t have: Job Security.
Last month alone, the economy lost 80,000 jobs and nearly a quarter-million over the last three months. Despite this fact, my view of job security has always been a pessimistic one. When people mention the security they feel within their job, I raise my left eyebrow, my head tilts down and left, I look at the person over my glasses, then I burst out laughing. Job security! Advancement in technology is replacing jobs once done by people at a steady rate. The only person who has job security might be a mortician and with people living longer, even they have to wait on our business.
When things are going great it’s easy to get comfortable, to get lulled into a false sense of security, until our job is outsourced or either terminated. Sadly, when a job no longer needs or can afford our services, they let us go, sometimes without warning.
So what can we do in an economy when things are unstable? Prepare now!
Valley and Peaks
Pay off debt. Getting rid of debt should always be a priority in any economy. If you feel your job is secure, why not use your guaranteed income to pay down debt.
Build your emergency fund. The rule used to be a savings of 3 to 6 months of household expenses, or the amount you would need to maintain your household for 6 months. Now it’s 12 months of expenses. Finding a job is a job in itself and may not happen as quickly as you hoped. You can buy yourself more time to find a job that’s right for you if you have a bigger cushion to soften the blows.
Learn a skill. I know people with more degrees than a thermometer and no job. They have the skills and education, and while that’s a huge advantage, it’s no guarantee of a job. However, if you can do something with your hands, no one can take work away from you. Sure you may have to work harder at finding work, but the ability to create work always remains with YOU.
Use free resources. I’m a huge fan of the library, to me it’s a free education. Through reading alone, I’ve taught myself photography and web design. I don’t have the greatest skills in these areas, but I’ve used both as a means to generate income doing work that I love. Yes, I have to find the work, but no one can take away my ability to work. To me, I feel it’s always there when I need it.
How do you feel about your job in this economy? Do you feel a measure of security or do you think you could wake up one day with no job?
there is never any job security no matter what your position..(government excepted)..running my own truck for years forced me to be proactive in having a safety net at all times..in the early years I didn’t have that net..so it was a struggle
Hi Natural,
Being self employed, with a business that relies on construction, our key to success has been diversification, and building up our reputation. It’s gotten us through many tough times.
Paying down/off deb, having savings, and using free resources is fabulous advice.
Barbara Swafford’s last blog post..Beach Blogging In Belize
Well. I am a commercial insurance agent and have been for 5 years. Its the most boring job On The Planet. I have a ‘nice boss’ I guess. My commute is a nightmare and the pay is ridiculously LOW.
However, they are never going to find someone that does the job I do, for the salary I make, which = Job Security.
Either that Or I am just a moron.
meleah rebeccah’s last blog post..60 / 40
Robert I don’t think so either, but Meleah Rebeccah has a point. lol
Glad things are going well for your business Barbara. It’s probably even more difficult being self employed and while things are good…it would be a good time to prepare. I do get clients through referrals…so having a good rep. helps.
Meleah Rebeccah, lol. I should have checked with you first before I wrote this. What a great quote:
“However, they are never going to find someone that does the job I do, for the salary I make, which = Job Security.” Maybe I do have something….still laughing. Seriously though, I’d never be surprised at a tap on the shoulder…always preparing myself for downtime.
Security being the key word. I, am not the bread winner, as you know, so as for my wife, she has a security clearance computer job with many projects in the queue. I don’t put her as untouchable or anything but, she could get work quickly if she needed to based on her experience and security clearance. Cool post.
That’s great Joe. I think the important thing is to never get too comfortable, always prepare for “what if’s.” Gradually things change behind the scenes and by the time we get word, someone has pulled the rug from underneath your world and it’s too late.
Natural’s last blog post..Job Security In A Hurting Economy
I am training to be a school bus driver. Job security? With as many hoops as I’ve had to jump through, I like to think I have a little security. Apparently, in between the drug tests, the fingerprints, the background check, and numerous interviews A LOT of people don’t “check out”. One more reason I’m glad I kept my nose clean.
We are working on getting out of debt AND saving money. Unfortunately if anything bad happened right now, we would very well be screwed! *Crosses fingers*
Jillian’s last blog post..A Few Things Plus Love Songs for the Downtrodden
Absolutely, we are definitely in pay off debt/save mode. Can’t get comfortable for sure.
for real!!
meleah rebeccah’s last blog post..FaceBook
That’s great Jillian…you have the advantage.
Joe Cool, I just had to say that. The less debt you have the less you have to worry about it there’s a change in circumstances.
Meleah Rebeccah, for real!
Natural’s last blog post..Job Security In A Hurting Economy
I have hardly any debt (a house note and a small credit card) and am STILL having problems paying my bills let alone build up any sort of emergency fund
Michigan sucks for commission sales, especially in the auto industry
nameless’s last blog post..4-1-08
I know how you feel nameless. It’s tough and the good thing is that you’re not swamped with debt. Start small, pinch pennies, read finance blogs, there are some really frugal people out there that come up with some great ideas to earn additional income.
I am trying to write a comment on this but I keep getting mad and depressed at the same time.
I don’t even want to watch the news anymore because it’s just one thing after another. It’s like going by an accident and you just can’t turn away.
The big problem is that we are all the ones in the accident.
I work for the local library. Our funding was recently renewed for another 15 years. It’s a gov’t job, in a sense, so I do have job security. For the first time in my life.
Sorry for my recent absence, again–mundania intruded!
Lana’s last blog post..My Town Monday
Road Warriors, it can be a frustrating topic. I’m skeptical…the foundation is weak.
Lana, I want your job!!! You work at the library!!!! OMG!!! See, I would get fired if I worked at the library, I would think I’m a guest and read all day. I’d get lost between fiction S-Z. Hmm, maybe I need a government job…would I be able to read all day, untouched and not be fired? I might get upset if people asked for help while I was reading, so never mind. Good for you Lana! I just better keep one eye open.
No worries about stopping in, I know where to find you! I’m way behind on my blog reading and commenting. I’ll catch up tomorrow.
When it comes to job security, the industry you are in makes a big difference.
Some industries are very sensitive to swings in the market. like car sales, in hard times people can hold off on buying a new car.
Industries like food are safer, because people always need to eat.
Other industries do well in hard times, for instance the cigarette industry. People smoke more when times are tuff.
Craig’s last blog post..Subscribe Travel Magazine
Craig you are right, I am toast!
That’s why I’m working to become debt free. No bills, no worry.