Unless you have been living under a rock you are aware of the apparent slow down in the US economy and the shockwaves that it is sending around the world.  The Dow opened up in a nosedive today but has since rebounded as I write this post.  The fact of the matter is the economy and the stock market fluctuate everyday.  One-day earnings are good and the next day they are not.  One day the interest rates are cut and the next day they rise.  Today business is booming but tomorrow unemployment might rise higher than it ever has.  The economy, business, our career, our lives all have ups and downs.  There isn’t anything we can do about it.  Solomon was right on the money when he said there is nothing new under the sun.

I am not going to write this article today hoping to give you some economic insight and reassurance.  My brother is majoring in international affairs and national security at the University of Pittsburgh.  When he goes on and on about the economy and world affairs I often find myself yawning through the speech because it begins to bore me to death.  However, that doesn’t mean I am not interested in it and glad that someone is thinking about these issues.  I am also glad that it isn’t me.  Even though I am not an economist I do have common sense.  My common sense tells me to not get so excited about the down turn in the economy and the stock market.  These things happen and will continue to happen; simply because the economy is slowing down, and yes we might go into a recession does not mean that your employer is going to walk into your office today and hand you a pink slip.  Could it happen?  Yes, but it won’t happen because your boss was watching CNBC and heard the news of a recession and decided to start taking preventive measure by firing you.

Here are a few things to keep in mind since the mainstream media is constantly talking about recession, recession, and more recession.

Every industry is different: The trucking industry is down today because the homebuilders industry is down.  On the flip side the software industry is booming and so is telecom.  In certain sections of the country manufacturing is still going strong while the car industry limps along.  The education and government sectors cannot find enough qualified workers to fill their seats.  The ups and downs of life have always been there, why do we act like this is something new?

Anita Bruzzese over at 45 Things.com has a great post on “Recession Proofing” your job.  Here are a few items she suggested, I recommend reading the entire post for more detail.

Keep Your Butt in the Chair – Now is not the time to slack off.  Now is the time to step it up and show your company that you care and want to see them succeed.  I agree.
Reach out – she suggests reaching out to other departments and learning from them about what is going on in their world so you can stay ahead of the game.  Another way to put it is to make sure you are reading the writing on the wall.  If your company is talking about closing offices, losing big clients, etc… you might want to consider redoing your resume.
Network Like Crazy – all of those industry meetings you have been attending, or should be attending, will now begin to pay off.  If you have developed a good network of people you might want to consider putting your feelers out there to determine what is going on in the marketplace.
Be on the cutting edge – I love this idea.  The people who are on the cutting edge will not be left behind.  Have you been reading the trade publications for your industry?  Have you been reading and contributing to blogs in your industry?  All of that effort won’t be in vain when you need to switch jobs.  All of that effort will add to your networking efforts because those are the people you need to be talking with when you need to jump ship.

Great post Anita, I think you are right on the money.

I would also add…

• Consider hiring a career coach before you do lose your job
• Call the college you graduated from and talk with their career center.  These offices can be a great resource when you are considering a new job.
• Take a step back and consider what you are doing for a living.  If you are unhappy in your current role now might be a great time to go back to school or take some time off to find what you are truly passionate about.
• Understand the business you are in and make sure you are trying to read the writing on the wall before they read the writing on the wall to you by telling you to pack up your office and be out by 5PM.  That is never fun.

Here’s the bottom line.  Simply because we might be headed for a recession does not mean you are going to lose your job.  If you do lose your job there are a number of factors that went into this decision.  CNBC doesn’t have as much impact on your boss’s decision as it might seem.

What do you think?  Do you agree with my assessment of the situation?  Do you agree with Anita over at 45 Things? Tell us what you think by leaving a comment.