THE SILVER LINING IN THE SOARING UNEMPLOYMENT RATE CAUSED BY THIS PANDEMIC

The memory of the 2008 recession is still fresh in the minds of many people. You will recall that in the US alone, the labor market was shedding more than 700,000 jobs every week. The job search becomes exclusively available for the skilled professionals and as if that is not enough, the banking systems and the auto industry appears to be shrinking by the day. Everything looks apocalyptic!

With the event of this past week (March 16-20, 2020) alone, it is remarkable in in the US history as more than 3.28 million filed for unemployment insurance. Experts are now forecasting that three times this number accrue by end of March 2020; we are talking roughly between 9-10 million labor force strong. The massive layoff is caused by the COVID-19 pandemic, and many will now be forced to explore alternative means of making end meet.

The challenges are high; loss of health insurance, inability to pay bills and support self and family. All other plans that involves use of capital is now grounded to a halt. Since healthcare experts are projecting that the virus will dictates its own timeline, that makes it even more difficult to predict when things will turnaround for the better.

Recalling the experience of how things turned out in 2008, not all the job returned. Not all the business came back, and at the same time, there were still many good things that happened. But as we are all witnessing history, it always carries two surprising gift bags; one is ominous and the other is profitable. The ominous signs are the economic hardships many people are currently experiencing. We’ll talk about the profitable at length.

The Real Benefits of this Pandemic

Just as the recession of the 2008 bites harder, the Federal Government bent backwards to do all within its power to jolt the economy back to life, through stimulus bill that gave life to the auto industry, mortgage banks and the financial system. As the growth accrues, new jobs and careers emerges; gig economy took a life of its own. Ecommerce soared to greater heights, Uber, iPhone, iPads, online education, automobile with USB and Wi-Fi. Just because we all blended into these advancements of the 21^st century, we seem not to have noticed; how much our lives have changed.

A similar trend is brewing as this pandemic reach its crescendo and bows out. Let’s keep examining them one after the other.

New opportunities

Let me start with the new advanced technologies, iPhones started growing in numeric numbers. Experts began to forecast that blackberry’s last days are here. It was not long after that Samsung strengthened its competition and the smartphone war began with the Apple iPhone. Whoever wins this battle, one thing is clear, technology has opened several doors opportunities to mankind on a scale unimaginable.

This leads me to increased wages. Just because employers of labor have learned a lesson from the recession, productivity took on a new meaning and as such they are now ready to attract the best talents to meet the growing competition that is driven based on innovativeness. As such, workers compensation received between 40-65% increase, depending on where you find yourself on the cadre.

As new opportunities arrive from all directions, the business approaches was revisited, employers of labor decided to retool and embrace forward looking methodologies from the psychology of office seat arrangement to project management methodology, everything was tinkered with, to validate that after the 2008 recession, we are now in a new era.

World over, everyone perceives Governmental authorities as archaic and not much of any relevance. Yet around the globe all the progressive Government rose to the occasion. They give more recognition to the consumers, the larger section that makes up the middle class. They realize they need legal protection in a capitalistic economy. They enacted laws that shows that Government actually listened when the whole pains was all gone. The experience of the depression becomes a lesson they never wanted to unlearn.

As the Governments cleans its house, innovative ideas explode to the point where we see the emergence of more millionaire that we can ever imagine in a generation or not even a century. This wealth is not generated by working without sleeping, but very smartly as these individuals leverage the platform that the iPhone and Android technologies (one of the many examples). The recovery of the 2008 recession now embolden a lot of many people to become risk takers. In the long run, the risk paid off; uber and Lyft are a good reference. As of today, there are tens of thousands across the globe that earn their income from smartphone app development alone. Before the recession, this would have been described as a pipe dream.

As all these events unfolds real time, there are a number of professionals that could not wrap their minds around these facts; that life before the recession can be compared to Dark Ages when we stark the volume of accomplishments in the years after the recession. There is a lesson here for you and me, if you are discouraged. The innovation that gained momentum after the recession did not come by accident, it was engineered and orchestrated by humans that looks like you and me. If they can lead, we should be able to follow at a good pace. We should be able to catch up the pace and strive to surpass these fellow humans. In the end, it becomes a win-win outcome for everyone, as we navigate the dangerous map called future!

Personal Lessons

While out of job, don’t become discouraged, see it as a time to prepare for the job of the future.

For those that refuse to advance their career by learning a skill for the future, they risk remaining a clog in the wheel for the fast-moving train. But if you advance yourself by learning a trade and/or a professional skill, you are strategically positioning yourself for something profitable. Remember in a capitalistic economy, there is no stagnation.

In 2008, professional certification opened many doors of opportunity for many workers that were laid off. I was able to secure IT and Project Management teaching opportunities in at least 4 Training Institutions at the time; teaching and preparing these candidates for CompTIA: A+, Network, Security+, Project+, Microsoft Certified Systems administrator (MCSA), Microsoft Certified Systems Engineer (MCSE) and Project Management Professional (PMP) certifications. Virtually all my students are gainfully employed today, I know this because I keep track of them on LinkedIn.

Before coming to the class, many of these students were struggling to find their feet, because as they explained in class “no specialized skills to claim”. But the 2008 recession jolted them to life, and they were not discouraged but much more encouraged as they see their new skills opening new frontiers each day. In their little ways, they embrace the risk, bite the bullet and sacrificed at least three to six months to retool for the future, now the burning of that midnight candle paid off. I need to also remind you that before the recession, these students were earning much less, but after their certification training and testing, many of them secure various new opportunities within 3-6 months afterwards. Today, they are on a defined career path because of the professionally acquired skills and excelling in their little ways. Now they can look back and heave a sigh of relief, “it was a time well spent”

This pandemic will soon disappear as medical experts works at creating strong therapeutics to combat it. When it is all over, you want to be ready for the show time. The time to start is now.

I have more useful information on cloud technology, cyber security and project management. I have useful and reliable information on artificial intelligence, machine learning and deep learning as well. Adaptability and willingness to learn are the roadmap for future opportunities.

Examine where your interest lies and start working at it. Determination and courage will also be required on your part. This is the time to hold a conference call with yourself and prepare for that journey to the future. It is not far, it will be dire, if you delay!

The Silver Lining in this Pandemic

It is both ways; just as employer heave a sigh of relief for shedding those labors, it gives them time to rethink and retool for another future competition. So are you, if you find yourself at the end of the tunnel, see it as a blessing in disguise, now you have the time to meet the demand of the future labor force that is productive!

Please remember, it will be tough and rough, but you will survive it. Look back, several tough life experiences you have weathered in the past. Here you are today, still waxing stronger. This is not the end of the world; it is just the end of a phase in your life history. We all go through it, to be refined. See this moment as one of refinement and time to get to work.

Conduct your personal research, ask good questions, talk to professionals in your prospective field, glean as much reliable information as possible, pray for guidance, explore all the options available to you. With courage and determination be optimistic, give it your all, you will be amazed at the successful results.

Another silver lining, I was thinking about, perhaps you have several great ideas that can give birth to Uber-like investments or position yourself to compete with Tim Cook. Your idea might be the one that Jeff Bezos is willing to compete for. No matter how small it may look, please don’t dismiss it, remember the frank word your teacher instill in you, before you left high school millions of years ago; ”always believe in yourself”, there is a light at the end of every tunnel as long as you are optimistic ready to take the journey. Remember, you have nothing else to lose, experiment taking the risk, because you have nothing to lose but a lot to gain. Long life lessons and abundant success awaits you.

Your job loss today will result in a huge again as you explore all the suggestions outlined in this blog. Please get a paper and pen and get to work now!