Resourceful in a Recession

There is no question that the domestic and international economic situations are pretty grim. With the highest unemployment rate since the early 1980s, many people are lamenting the current crisis and fearing it will last longer than expected. While I understand the situation and know people who have been laid off or lost property during these difficult times, we cannot give in to despair. We have to think “outside of the box” to survive during this recession. It's easier said than done, because we are all used to our routines and regular paychecks, but I think it is the only way we can weather this economic storm.

This means exploring other careers in other fields and industries we may not have thought of doing before. I recently spoke to someone who lost his job working in a dentist’s office and decided to start his own remodeling and construction business. He put his creative skills as an artist and his experience with home improvement projects to good use by working on a variety of jobs for many clients at the same time. He is feeling the effects of the recession like all of us, but is still doing well because he's flexible and willing to compromise.

People looking for specific jobs in specific fields, such as finance and communications, find themselves in fierce competition with more candidates than ever before. I recently saw a report on television about how many men have lost their jobs, while many women are still working, for less pay. One man has been home for almost a year after being laid off from his financial securities position, which he had for almost twenty years. He has been sending his resume to various financial institutions everyday, hoping for the best. In this case, the man with the MBA is not faring much better than the high school graduate.

Stories like these inspire me to be more resourceful. I am looking at other positions, attending more networking events, volunteering, and so forth. This is definitely not the time for any of us to be complacent.

Are you being resourceful during this recession?