Increase in Unemployment in 2008 - Coaching Through a Recession
Posted by Tom Floyd Insight on Coaching at 8/28/2008 9:39 AM 
Categories: Coaching Through a Recession
Categories: Coaching Through a Recession
Increase in Unemployment in 2008
We kicked off our Coaching Through a Recession show with a discussion about the current state-of-the-state in the U.S. economy. When I asked John Challenger the question “are we in a recession,” his answer was yes.
One of the topics both John and Rich Milgram discussed was unemployment.
John shared there are 1.6 million more people unemployed this year than there were at this same time last year. He followed that up by emphasizing there has been a steady increase in the amount of unemployed workers every month in 2008. Some additional themes that came up on our show related to this:
- More people are taking part-time jobs to make ends meet in the current economy. (1.4 million more people are working in part-time jobs this year than last year)
- Experienced professionals with more than 7 years in the workplace are willing to take lower paying jobs to make ends meet given the current economic state.
- Companies aren’t as willing to hire or invest in recent college graduates or professionals with less than 5 years of experience due to the amount of workers with more experience looking for jobs.
- The end doesn’t appear to be in sight yet – it’s been slow going into this economy, and it’s going to be slow coming out.
What have your observations been? Share your thoughts and stories.
- Do you believe we’re in a recession?
- For job seekers out there, are you finding it more difficult to find work in the current economy?
- Are more people taking jobs with lower salaries or supplementing incomes with part-time jobs to make ends meet?
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Tom Floyd
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Specializing in Management Consulting, Change Management, Workforce Performance, and Employee Development
Coaching Through a Recession
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