A Client Speaks - 18 Dilemmas Facing Executives in the Job Search
Dilemma 2 - Economics of the Job Search
Unemployment Cntinues To Rise: This means that more an more people are seeking fewer and fewer positions. U.S. employers slashed jobs and unemployment rose to a nearly three-year high, offering the latest signs that the economy has fallen into a recession.
"The job market is a lagging indicator," said Arpitha Bykere, economic analyst at RGE Monitor.com. "We can expect the picture to get gloomier. We won't see a positive picture any time soon, even if the economy recovers."
Earlier this week, Fed Chairman Ben Bernanke made his bleakest and bluntest assessment on the economy's condition. The central bank chief told a joint congressional committee that a recession is possible in the first half of this year. The Labor Department now estimates that the economy has shed 232,000 jobs in the first three months of this year. The above information was extracted from an article by Chris Isidore CNNMoney.com senior writer:
Whether you are employed, unemployed or in the process of being unemployed, today, an executive's financial picture can be very bleak because of lack of income and monthly expenses. Therefore, the longer your job search lasts, the more expensive it becomes to your short-term cash flow and to your long-term retirement income strategy.
Here is an exercise to test where you stand in how much your job search is costing you. Type in the salary you aspire to earn and enter it into the table. Then, add your monthly expenses into the box below. Use this calculator to determine what this search is costing you daily, weekly and monthly.
