It's no secret that the COVID-19 has caused the worst unemployment in the US rate since the Great Depression, ballooning from 3.8% all the way to 14.4% in just two months. We even experienced the most unemployment claims in one week, ever. And while things may be looking grim, it will get better eventually and there's even still hope to find a job today. While it may be more difficult, it's not impossible to navigate the job market during an economic downturn.
Leverage your network to navigate the job market in an economic downturn
A study finds that most jobs are found through using someone you know. Even further, they found that these jobs weren't found through close friends, but weak ties. While also being more likely to get hired, job seekers also found that using these weak ties allowed them to get better information during the hiring process and a higher salary. You could use this pandemic to connect with some of those weak ties and navigate the job market in an economic downturn. Don't be afraid to reach out to someone you have talked to in a while, because the worst they can do is say no.
Start by thinking of a list of people that you know loosely and may be willing to help you out. If you need to, you could also start networking. Apps like Shapr allow you to connect with people and expand your network. It's great in the current environment because it doesn't require going anywhere to meet someone.
Build up your resume
An economic downturn can also be a great time to increase your skills. With tools like Coursera making education as accessible as possible, it's easier than ever to learn a new skill and improve your resume. Learning some new skills can help you become more marketable and allow you to stand out from other candidates applying for jobs. Remember that many other people are probably looking for jobs too and you have to stand out from the rest of them. While upskilling will definitely help, you also have to make sure that your resume and cover letter highlight your abilities too.
Don't be scared to go outside your comfort zone
When jobs are scarce, it can be hard to find jobs inside your industry. Don't be afraid to take the skills you have and apply them elsewhere when navigating the job market during an economic downturn. Even if you don't have industry experience, your skills could still apply elsewhere and it's worth looking deeper at the job descriptions to see if you're a fit. You could even try something else, like working for a nonprofit, the government or a startup that interests you.
Remember that the market won't always be this way and will eventually recover. Keep your head up, because you will land a job. Many people are struggling to find a job in the current climate and are in a similar situation. If you keep looking around and applying, you'll find something.
