Stock Market Gyrations/Sub-Prime & Job Creation

Stock Market Gyrations/Sub-Prime & Job Creation

Well it’s been a rocky 10 days for investors. Real estate, banks, hedge funds, mortgage companies & world wide stock markets have been experiencing wide range flux. So as the fed worries and holds emergency meetings, homeowners worry about raising mortgage payments and investors watch their retirement portfolios decrease. What should the job seeker be concerned about? www.jobsbl.com

Having been in the staffing business for over 25 years and being a veteran of several severe market adjustments; I can’t remember a market incident that did not have some effect on the job market. The formula is relatively simple. If consumers have fewer funds to spend, companies have fewer products being bought and hiring needs decrease proportionally.

lower stock prices = less net worth = less spending = lower sales = less staffing.

As you can see I am no economist or macro mathematician but the simple correlations don’t require you be a rocket scientist to get the point.

So what should a job seeker do? Well for one make sure that your skill set adds value to your current employer. If at all possible build you own correlation of how your job assists or increase your employers sales. If you are in a cost center job keep a watchful eye on your employers quarterly sales totals and forecasts. And if negativity continues consider changing jobs to a more stable employer.

If you are currently unemployed consider all job offers. This might be the time to lock in a job even if it’s not the ideal situation or dream job. If history plays out, we might be experience a tightening of job creation in some skill sets and a steady rise in unemployment.

Then again as always I could and hopefully am wrong again?