Ghosts of layoffs past: A little nervous to make the job jump

QUESTION: You probably don’t remember me but I graduated with a degree in finance in May of 2007 and was working at my first “real job” when the “Great Recession” began that December. By June, I’d lost my job because the economy was showing few signs of recovering and you helped me find another one.

When the “Great Recession” officially ended in June of 2009, I had just been laid-off for the second time. Once again you updated my résumé, provided Career Coaching, and helped me to think positive instead of feeling sorry for myself. Pretty soon I had a new job. (I always get good reviews and thanks to several promotions, I am now a department manager.)

So what is the problem? I like my job but I’m not sure about working here for the rest of my career. However, I’ve started having nightmares about getting a new job only to have the economy tank like it did in 2007.

Gillespie: It doesn’t seem possible that not only has it been over 9 years since the Great Recession “officially ended,” we are continuing to enjoy one of the longest “bull markets” ever. But it is definitely true. The U. S. Bureau of Labor Statistics noted that last month (September) was the 96th consecutive month of job growth.

Even more impressive is the Dow Jones Industrial Average passing 26,000 for the first time ever back on Jan. 16, 2018. (This happened only a week after it had reached 25,000 and it is currently closing in on a new all time record of 27,000.) And that’s not all… September’s unemployment rate of 3.7 percent is a 48 year low. Believe it or not, the last time this happened was at the end of 1969.

In addition, employers have added close to 20 million jobs over the past 8 years (twice the previous record). This has resulted in unemployment being way down, including being near an all time record low for both African-Americans and Hispanics.

That said: if what you are really worried about is less people being hired in September than in August, smile and think positive. Economists and others point to Hurricane Florence for being the culprit.

If that doesn’t work (pardon the pun), do remind yourself that while the economy has small set-backs from time to time, there are no signs we are headed for another “Great Recession” in the foreseeable future.

You may submit job and career questions for Judy to judy@careeravenuesbyjudy.com