Recently, there has been a lot of talk about the high unemployment rate. As a job seeker, this number can be downright scary. However, the reality is that labour market conditions may not be as bad as they initially appear. Here are some reasons why you shouldn’t let the unemployment rate get you down:
Worrying About it Doesn’t Help.
Unfortunately, there is very little that you can do to improve the unemployment rate. You have to work within the current labour market conditions. Obsessing about the unemployment rate doesn’t help you find a job. It only stresses you out and distracts you from tasks that are actually productive.
The Unemployment Rate Varies by Industry and Location.
When looking at labour market information, it is important that you read the fine print. Even if the national unemployment rate is high, there may still be a lot of jobs available in your region, or in your industry. Before you jump to any conclusions, look at the demand for your target job within your city.
There are Always Some Jobs Available.
Even when the unemployment rate is painfully high, there are still jobs available. Reports still need to be written, shipments still need to be delivered, buildings still need to be built, and the world moves on. People go on vacations, have babies, retire, and change jobs. All of this action means that there are always some openings available, even if it’s just a few. The key is to customize your resume to show the employer that you are the perfect fit.
There’s More to the Story.
Whether the unemployment rate is 5% or 25%, it does not tell the whole story. It may include people who don’t want a job and people who aren’t looking effectively. The number of people who are actively looking for work may actually be a lot smaller. Don’t waste time worrying about the unemployment rate. Instead, stay focused on your own job search.
You shouldn’t stress yourself out about the unemployment rate, but that doesn’t mean that you shouldn’t be doing labour market research. Do your homework and determine how much demand there is for your target job. If you find that there are not a lot of jobs available, it may be a good idea to shift your focus.
(Written by: Karen Bivand)