Readers Share Fears and Hopes for Economy

Recently we ran a giveaway for the book Bulletproof Your Job by Stephen Viscusi. As part of the giveaway, I asked for comments related to finding work, the economy, keeping work, or whatever your concerns may be for the upcoming year.

Many of you responded with fears for your own job, your children’s future, and questions about the economy. Several of you were self-employed, and concerned about what the new year will bring. Kathy S. said:

“I have a bookkeeping business that I run from home. I have 5 clients two of which are construction. My business has declined by 40% because the construction clients are not working.”

Kathy’s comment was a good example of how interconnected we all are. When we hear of an industry that is doing poorly, it begins to affect other companies and industries down the line. Even if our business is doing well at the moment, you never know how that can change due to troubles in other areas.

Cara reiterated this thought by saying:

“I am a communications consultant who works from home and while I currently have solid employment, I’m worried about where to find my next project.”

Certain areas tend to decline first in a poor economy. As our reader Teresa G. put it:

“I have concerns about being kicked off my team at work. People are just not spending money on luxury items which is what we sell. I don’t blame them with the cost of food and gas being so high.”

Quite a few comments we received were not about finding work, but about finding quality work. It can easy to find a job – but will it pay enough? Offer enough opportunities? Our reader Dave said:

“I lost my full time job almost two months ago and immediately set out to find part time work. It didn’t take too long to find something, but the pay is so low I would actually make more money if I had stayed on unemployment. But I’d rather be working, even though I am losing out on money. I hope the economy picks up soon, and perhaps I will be able to return to my old job.”

Sito brought up the issue of “underemployment“:

“I was laid off and took several “underemployed” positions to help work through. This actually hurts, since potential employers see it as a lack of ambition when, in fact, it was the opposite. I didn’t want to collect unemployment and do nothing.”

Several of you said you had been laid off, and worried about things getting worse. Still others wondered how secure their jobs will be in the next few months. Many of you showed concerns for your kids. Our kids need our guidance and with a changing economy like this it can be hard to give them direction. Anne said:

“I worry about my children, who are young and finishing their high school education. What direction should they go in? Where will jobs be?”

Quite a few folks commented that with any down cycle, an up cycle is around the corner. An optimistic yet pragmatic approach is always a great strategy. Many of you talked about faith and in knowing that whatever happens, you will stay strong and deal with it. Isaak’s comment echoed many others:

“I recently relocated to Adelaide, Australia from Singapore. And it has been a little tough looking for work as the job market is a little soft at the moment. I’ve spoken to some recruitment agencies and even they say the market is weak at the moment. But I’m sure things will look up in the new year.”

I hope you’re right, Isaak. Thanks to everyone who commented. I wish you all great opportunities in 2009!