A looming recession on the horizon isn’t the best period for anyone, including employers, managers, or job seekers. Since the economy is mainly registering downturns, we’re noticing higher unemployment rates and perceive it as the worst time for job hunting.
The truth is that we are currently living through an uncertain economic environment, specifically in the job market. Following last year’s major tech layoffs, which resulted in over 93,000 job cuts, we can’t help but notice how more and more competitive the job search is getting.
Finding a new job can be difficult during a recession because businesses frequently cut hiring expenditures and tighten their budgets. However, with the proper approach, confidence, and a positive attitude, finding work during a recession is not impossible.
Our article explores how you can stay ahead of the game and find a job even in a slower economy!
Seek Out Companies That Hire Despite the Economic Downturn
An optimistic thought to keep in mind is that some recession-proof industries still offer job openings despite the weak economy. It is crucial to look into these companies and find the ones that are actively hiring. You should learn how to adapt your job search to the currently available opportunities.
The truth is that you need to go deeper into the hidden job market, which is constantly adapting. During a recession, most companies can’t deal with an increasing number of applicants, so it might be a good idea to shift your focus from major job posting websites to job descriptions on company websites.
During your job search, try to prioritize growing and lucrative industries, the ones which are least impacted by the economic downturn. Networking with friends and family members who work in these companies or industries can be an excellent way to gather information about the hiring process and job opportunities.
- Pro Tip: It’s crucial to customize your resume and cover letter for finding a job during a recession. In a competitive job market, this will make you stand out from other applicants. Additionally, you need to emphasize your skills that match the demands of the position. Tailoring your job applications can also show that you pay attention to the little things, which is a valuable trait for employers.
Consider Alternative Employment Options Such as Freelancing or Contract Work
When traditional employment is hard to come by during a recession, contract or freelancing work may be the alternative for job seekers. It can offer you a source of income, while still preserving your freedom and control over your schedule. Contract work and freelancing are both great ways to learn new skills and gain experience that will be beneficial in the long run.
Freelancing can also work in your favor in the long run! Gaining more experience in an industry increases your chances of getting hired for a full-time job. Not only can you use that experience to attract more freelancing contracts, but you can also include it in your resume or Linkedin profile and increase your visibility for potential new jobs.
Most people look for freelancing gigs on platforms like Upwork, Freelancer, and Fiverr, where they can connect with potential clients. Furthermore, networking is also your secret weapon to land freelance work. Making your availability known to your friends, family, and coworkers can help promote your services.
- Pro tip: It is important to create a contract or agreement that specifies the scope of work, deadlines, and payment when thinking about freelance or contract work. This can help to make sure that everyone is aware of the obligations and expectations.
Look for Professional Development Opportunities To Increase Your Marketability
Maintaining your relevance and competitiveness in the job market is critical during a recession and these both can be increased through professional development. By participating in workshops, taking online classes, or earning certifications you can not only improve your skill set but also show a proactive approach to prospective employers.
You must first evaluate your marketability before making a career move, regardless of whether you want to land a new job or advance in your old one. You are more likely to appeal to hiring managers if you are aware of your strengths, core values, and technical skills.
Professional development can also give you the chance to grow your network and establish new relationships. You can keep up with the most recent trends and advancements in your field by participating in online forums, attending industry events, and joining professional associations.
- Pro tip: Managers examine job candidates based on growth patterns. In your resume and cover letter, make sure to highlight your accomplishments and top priorities if you’re looking for a new job.
Stay Positive and Focused During Your Job Search Process
Finding a job during a recession can be a frustrating and challenging experience. It’s essential to stay focused and upbeat during this period. You can easily do so by setting and monitoring reachable goals related to your career. As each objective gets accomplished, it can help divide the job search into doable steps and give you a sense of accomplishment.
Additionally, networking can help you stay optimistic and concentrated while job searching. Attending events and meeting new people can give you a sense of support and community. Likewise, asking mentors or experts in your field for advice and direction can offer encouragement and insight.
- Pro tip: Maintaining a routine and developing healthy habits can be beneficial during the process. It can involve scheduling time each day for activities like exercising, job searching, and self-care. Setting up a routine can help keep things feeling normal and less stressful.
Level Up Your Job Searches With AI!
Although looking for a job during a recession can be a daunting task, it is not impossible!
Besides the multiple tips mentioned above, there are many powerful tools that you can employ in your job search. These will allow you to find a strategic approach that aligns with your skills, even during a recession. AI-powered technology can help you find relevant opportunities, tailor your resume, and receive instant feedback.
Take a look at GabiLabs’ features to streamline your job searches and find your next job!
