U.S. President-Elect Obama aims at saving and/or creating at least 2.5 million
jobs with bold stimulus plan.
The proactive two-year stimulus plan, which he discussed in his weekly radio address, will be
a comprehensive effort to increase employment while addressing other serious
problems in the country.
"If we don't act swiftly and boldly, most experts now believe that we could lose millions
of jobs next year," Obama said. "[Our plan] will be a two-year, nationwide effort to
jump-start job creation in America and lay the foundation for a strong and growing economy," Obama said.
"We'll put people back to work rebuilding our crumbling roads and bridges,
modernizing schools that are failing our children, and building wind farms and
solar panels; fuel-efficient cars and the alternative energy technologies that can
free us from our dependence on foreign oil and keep our economy competitive in the years ahead,"
Obama added. (Watch the entire address here.)
The news could not come at a better time, as people seeking first-time unemployment benefits
jumped to 542,000 -- the highest level in 16 years; continuing claims for unemployment benefits
were 4.012 million -- the highest level since December 1982. Furthermore, more companies are
announcing layoffs (none bigger than Citigroup, which not even survive its recent nosedive),
and the Big Three domestic automakers face possible bankruptcy -- which could cause a massive
domino effect of job losses -- without some sort of government bailout.
Job losses in November, which will not be announced for until the
first week in December, are now expected to reach another 200,000, as 2008 looms as one of
the worst years on record for workers and job-seekers.
November 17, 2008
The number of Americans filing new claims for unemployment insurance surges past
500,000, and hits highest levels since 2001.
The U.S. Labor Department announced that initial filings for jobless benefits hit
516,000 for the week ending November 8th -- the highest total since the week that
ended September 29, 2001. Last year, the number was at 338,000.
Furthermore, the number of people continuing to collect unemployment insurance for one
week or more jumped by 65,000 to 3.9 million, 1.3 million higher than the same period
last year, and the highest level since January 1983.
November 10, 2008
November announcements of job cuts -- and potential job cuts -- could make it
one of the worst months on record.
With the latest announcement that DHL will be ceasing operations in the U.S. and
eliminating 9,500 jobs (mostly in Ohio), November has started on a very
negative note in terms of job security. Sadly, DHL had already cut 5,400 jobs
earlier this year.
Circuit City, which filed for bankruptcy protection, also announced plans to cut
more than 7,000 jobs -- and most likely more cuts will be forthcoming.
Many experts expect other retailers to fall in the next few months, as a dismal
holiday season pushes some of them to end operations.
Furthermore, other companies have announced job cuts in the past 10 days, including
Mattel (approximately 1,000 jobs), Fidelity Investments (1,300 jobs),
GlaxoSmithKline (1,000 jobs), La-Z-Boy (850 jobs), and the Hartford (500 jobs).
While it is certainly not time to panic, it is time to shore up your job and your
marketability if you still have a job -- and to intensify your job-search efforts
if you are unemployed (or expect to be soon).
Almost 1.2 million jobs have been cut in the U.S. so far in 2008, with unemployment rate spiking
to a 14-year high in October.
The Labor Department reported that employers -- as expected -- cut 240,000 jobs in October, marking
the 10th consecutive month of job losses.
With the job losses, the unemployment rate increased to 6.5 percent (higher than the predicted 6.3 percent),
up from 6.1 percent last month -- and the highest level since 1994.
Even worse, the Labor Department revised figures for September and August -- with job losses much
greater than originally reported. In September, 284,000 jobs were cut (well above the reported 159,000),
while in August, employers cut 127,000 jobs (compared to the 73,000 originally reported).
In just the past three months, more than half a million jobs have been lost as employers
continue to cut back.
Experts are mixed on whether job losses will continue to accelerate to levels not seen since
the 1980s or whether the largest losses are occurring now and future losses will continue,
but at a slower rate.
Job losses continued the same pattern, with manufacturing losing 90,000 jobs,
construction losing 49,000, retail losing 38,000 jobs, professional and business services
losing 45,000 jobs, financial services losing 24,000 jobs, and leisure and hospitality
losing 16,000 jobs.
The only winners -- industries with job gains -- included the government, education, and healthcare.
November 5, 2008
It's been a historical week for the U.S., and all the more reason to keep at your job-search.
This year's inaugural
Job Action Day
was a huge success -- and we expect it to be even bigger
and better next year!
But don't let the momentum stop! If you heeded the advice and took action on your career
this past Monday, make a point to keep at it until you find a new job that is right for
you -- or until you further secure your current job.
With that advice in mind, here are some suggestions for both job-seekers and workers.
For job-seekers:
Make a new network contact daily
Update your resume and interviewing skills
Follow-up on all job leads you uncover
Research potential employers whose culture fits yours
Look into additional training, education, or certifications
Apply for job listings directly from company career centers
For workers:
Meet with your boss informally to discuss your accomplishments
Seek out new opportunities to make a name for yourself
Learn a new skill or position to make yourself more indispensable
Find a mentor and/or talk to your mentor about the future
Show your loyalty to the organization (even if you are not)
Build your brand externally so you are better known in your industry/profession
November 3, 2008
Job Action Day is today! Do at least one thing today to strengthen your career or protect your job
in this weak economy.
Job Action Day is a day for all job-seekers and workers to take stock of your situations and take
action steps to improve your careers.
We have several new resources and articles, as published in
QuintZine, and more than 15
expert career and job-search bloggers -- all with the goal of inspiring and empowering you to
do at least one thing today for your career.
With the ever increasing importance of having a strong reputation, our suggestion is for you
to take one step today to improve your personal brand. There are all sorts of activities you
can do -- from joining LinkedIn or some other business networking Website, to brainstorming an article
to write for your industry trade magazine or Website, to researching opportunities for additional
training or a new certification, to becoming an expert on a social bookmarking site such as Squidoo.
Building your personal career brand -- building your reputation -- will help strengthen your
standing in your current job and make you more marketable for your next job.
Quintessential Resume & Cover Letter Tips Blog,
a blog from another part of the QuintCareers Network, with new resume and cover letter tips daily. A must-see for any active job-seeker.
The Career Doctor Blog,
a blog from another part of the QuintCareers Network, where each day our own Career Doctor Randall Hansen answers one career, job, college, or workplace question.
Job Stuff, A Blog for Your Career, from Stephen Harris.
Stephen's blog is a great resource for those job-seekers who find yourselves in transition, searching for guidance
and reassurance.
The Occupational Adventure Blog, from
Curt Rosengren, a Passion Catalyst. Curt's blog is great for finding encouraging ideas (and resources) for moving forward with your career... a career
that lights your fire.
Blue Sky Resumes Blog, from career
expert Louise Fletcher, a general career and job-search blog that covers all aspects of the job-hunt.
