Easy Change

Are we recovering? "Optimists point to the rapid decline in the unemployment rate after the first wave of the pandemic—from nearly 15% in April to 6.7% in November— as a reason for a speedy recovery. Pessimists' go-to statistic is the high and rising rate of the long-term unemployed, those who have been out of work for more than six months. It has risen from 0.7% of the labour force in February to 2.5% today."  -From The Economist - Jan 2, 2021 (America's Jobs Market. Speed Limits) The article recounts the fact that many people who are long-term unemployed have indicated that they are only temporarily laid off, while history and shows that over time, many of these jobs may not come back. Many people have dropped off the rolls altogether and are no longer looking for work. According to Jason Furman and Wilson Powell III of Harvard University, the real unemployment rate is 8.5%.  Within the sectors of knowledge work, there has been a dramatic overnight shift to large nu...

As I was browsing the web this week I came across an article that I found quite astounding. The article was online at The Atlantic magazine and dealt with the socio-economic impact of unemployment on neighborhoods and the long tail effects going out ten, twenty, and thirty years. What I found interesting about the article was the premise. That is, the idea that unemployment was a problem that was rather long-term in nature was something that quite honestly I'd never really given much thought to. However, given how long and deep the downturn has been (e.g. even in the face of an upswing in the stock market, many people still are out of work), it is not hard to believe that there will be some longer term effects. This article about unemployment takes this concept and really explores it to the depths. The idea begins with a common example, that men (and people in general) often feel that their job is a major part of their identity. And in a protracted period of unemployment, that can...

Today I ran into an old friend from a previous job. I think that given the state of things, now more than ever, it is important to maintain the network of past colleagues. Unfortunately, I haven't been taking the time to do that, but it is definitely something that I want to do. If you have a group of people at your workplace, it might even be worthwhile to start some sort of regular meeting with them outside of work so that as people leave and move on to other pursuits that everyone can stay in touch. I have done this with the people from one job and I think that it is very helpful.

Recently, I got some very good news with regard to work-related compensation. In this economy, and in this troubled time of unemployment, any good news is really great news. So, for us right now, we're looking at a bonus, albeit smaller than expected. In addition, there will be a three percent raise. So many people are losing their jobs, that there are not situations where people who even have their jobs may not be getting raises or bonuses at all. So, I'm quite grateful. I think that it is important that people are grateful for what they have and realize that this is a time to be even more conservative. In this regard, I'm practicing what I preach here. And even in a good economy, this type of behavior is a good idea. It will make you more likely to keep your job when times are tough and more likely to get a raise and/or promotion when times are good. I'm convinced that these principals are what has helped me succeed in my current job. 1. Work hard. This is general, bu...