These are tough times to be sure. Just as a new President is about to be elected, the U.S. is experiencing the worst economy since the Great Depression. The stock market recently had the largest one-day drop in history. The shockwaves of the “credit crunch” are reverberating across the country and around the globe. Governments are being forced to bail-out entire industries and invest directly into financial institutions to keep them afloat. Millions of U.S. citizens can’t pay their mortgages, or are actually losing their homes. Parents can’t pay their children’s college tuition. Fortunes are being lost on Wall Street and the national debt is spiraling out of control. The job market is extremely weak, with unemployment claims and jobless rates higher than they’ve been since 2001. More than 750,000 jobs have been lost, and this number continues to rise with more layoffs and downsizings.
Previous economic downturns affected specific industries, such as technology, manufacturing or construction. But according toBusiness Week, 10/9/08, “With lending trimmed, and companies and consumers tightening their belts, jobs will be cut across broad swaths of the economy, from the tech sector to investment banking, and from manufacturing to soft drinks.” Worst of all, it seems that no one’s hiring!
The simple fact is that no one knows what’s going to happen to their jobs and careers. Everyone is concerned – even those who still have jobs. Some are terrified – especially those who have been out of work for a long while.
These reactions are understandable, and to be expected. If you’re feeling scared, depressed, lost, disoriented, anxious, helpless – you’re certainly not alone. You might even feel angry or victimized. Perhaps you’re saying things to yourself such as, “This shouldn’t be happening to me! I got a good education. I worked hard. I always did the right thing, and I don’t deserve this! I never thought I’d be in this situation. Maybe this is what OTHER people go through, but not ME!” Sound familiar? This is what I’ve been hearing from many of my career coaching clients in recent months.
In times like these, my clients need comfort and reassurance. My guess is that you do too. So, let me tell you the same things I tell my clients. If your job has been impacted by the current downturn, it’s OK to have all the feelings listed above, and any other emotions you might be experiencing. There’s nothing wrong with you, and you didn’t do anything to bring this fate upon yourself. You’re still a “good person,” and you still have all the qualities and credentials you had before. Although it may be difficult to believe right now, this tough employment situation WILL come to an end, and your career will get back on track eventually.
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