Career and Job-Hunting Blog
Career and job-search news, trends, and scoops for job-seekers, compiled by the staff of Quintessential Careers.
|Career and Job-Hunting Blog Index|
|December 5, 2008|
More than a half a million jobs were lost in the U.S. in November — the worst monthly cuts since 1974.
The Labor Department reported that employers cut 533,000 jobs in November, the most in 34 years and far more than experts had been predicting. The news guarantees that more than 2 million jobs will have been eliminated by the time this year is over.
Along with the increase in lost jobs came the news that the nation’s unemployment rate rose to 6.7 percent last month — to the highest reading since 1993 — compared with 6.5 percent in October.
Furthermore, with some adjustments made to the previous months, the total number of jobs lost in 2008 is now at 1.9 million. (October’s loss was revised to show a cut of 320,000, originally given as a 240,000 loss, while September’s drop was revised to 403,000 from 284,000 — making this three month period the third highest three-month job loss total since World War II.)
In terms of specific losses in November, professional and business services lost 136,000 jobs, retailers cut 91,000 workers, manufacturing axed 85,000 jobs, the leisure and hospitality industries cut 76,000 jobs, construction cut another 82,000 jobs, and financial services jobs lost 32,000 jobs.
Growth was only seen in government hiring, which has stayed strong throughout the downturn, where another 7,000 jobs were added. Education and health services also grew payrolls, adding 52,000 employees.
Yes, the news is bad, and yes, it’s amazing that politicians and economists are finally calling this economy in recession — when we have known this fact for many months based on the job market and your stories of struggles, along with the real estate, home mortgage, and financial services meltdowns.
Whether you are unemployed, underemployed, worried about losing your job, or simply wanting a new job — now is not the time to panic or give up in your search. Organizations are still hiring. Now IS the time to double, triple, quadruple your job-search efforts, focusing on productive activities such as networking and tracking down job leads — not wasting your time on the big job boards such as Monster or CareerBuilder. Besides networking, focus on individual companies and specific industry niche sites. Make certain your resume is top-notch and practice your interviewing skills so you’re ready when you get the chance.
Tools to help you today:
- Networking Your Way to a New Job
- The Quintessential Directory of Company Career Centers
- Career and Job Resources — by Industry
- Job & Career Resources for Career Changers
- Resume Resources for Job-Seekers
- Interviewing Resources for Job-Seekers
See also our article, Silver Linings in a Financial Meltdown: How Workers and Job-Seekers Can Make the Best of a Bad Economy — as well as our entire collection of job-hunting in a weak economy series: Job-Hunting During a Recession Articles for Job-Seekers.
|Quintessential Career and Job Resources|
Other topical resources for job-seekers:
- QuintZine: A Career and Job-Hunting Newsletter
- Q-Tips: Quick and Quintessential Career & Job Tips
- Q&A with Career & College Experts
- The Career Doctor Career Advice Column
- College, Career, and Job-Related Articles
- Career and Job-Related Tutorials