United States companies have experienced tens of thousands of lost jobs in markets from Wall Street to the travel, tech and media industries, despite experts reporting a strong economy. The cause of numerous job cuts may relate to pandemic over-hiring or the need to reduce costs due to high interest rates. Surplus positions are eliminated to optimize the workforce when businesses restructure. Firms in declining industries, such as tobacco, manufacturing and apparel, trim to survive. Technological changes intended to improve company efficiency, including the investment of AI, are replacing human workers. International arenas that bring global rivalry create workforce reduction related to market changes. In order to cut costs in-house employees may oftentimes lose their jobs to outsourcing.

Learning of cohorts losing their jobs is intimidating, as it creates a ‘fear of the unknown.’ Anticipatory anxiety can be triggered when you become aware that changes may be coming or related to what you believe you may lose. There are ways to navigate through feelings of a loss of control by taking a proactive stance. That means creating an attainable, constructive plan of what YOU can do to manage future challenges. Creating a pathway for a sense of control helps keep your wits about you for making good career decisions.

Steps to help to manage your employment stability concerns:

-A job search is a full-time occupation so start now by actively looking for new opportunities
-Better yet, do not wait for an emergency. Always be on the lookout for new prospects while already employed
-Utilize all forms of contact, such as email, in-person, calls and letter writing

-Update your resume with emphasis on your most recent applicable skills and past achievements
-Consider collaborating with a professional consultant to rewrite your vitae in a cutting-edge format

-Reach out to make connections by attending networking events in your sphere of interest
-Stay connected with old and new associates alike, as you never know who will provide you with a viable lead
-Connect with potential employers via online platforms such as LinkedIn, Indeed or Glassdoor

-Stay current in your field by attending career workshops and educational seminars
-If your abilities are no longer in demand, transition current skills into a more sustainable profession Occupational Outlook
-Acquire marketable skills through certification courses

-Realistically assess your financial situation and create a sensible budget
-Consider talking with a financial advisor to explore both areas of opportunity and weakness

-Take time to understand the power of your legal rights when faced with a layoff or other hardships
-Severance agreements should be carefully reviewed for full comprehension

-Looking for work is hard on the ego, so invite friends, family or counselors to lend you a bit of encouragement
-Support groups are helpful to normalize your experience with others who can share insights

-Self-care is important at this emotionally challenging time, so increase a focus on your wellbeing
-Enjoyable hobbies can help us take a break from the stress of constantly thinking or looking for a new position

https://www.visualcapitalist.com/charted-americas-fastest-growing-industries-by-employment-change/

Suzette Turner-Clark, LCSW-S, RPT/S, RYT-200