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According to the U.S Department of Labor in December 2008, 37 states and Washington D.C. experienced an increased unemployment rate, compared to the previous month; in addition, over the year, 49 states saw their jobless rate increase.
With so many people losing their jobs throughout the country, it’s easy to feel that losing your job may be just around the corner. But there’s no reason to stand idly by while your current job pushes you out the door. Rather, you can be proactive in trying to recession-proof your career so that you can weather the storm.
It’s very easy, in this current economy, to get caught up in the domino effect that is taking place. But the truth of the matter is that what started with the banks doesn’t have to end with your career. There are more people working than not; we just have to start concentrating on the positive.
In the last 15 months Americans have lost over $2.8 trillion of their hard earned savings. Thousands of people will not be able to retire. They will continue to work. Their savings is gone, their IRAs and 401Ks wiped out and dreams of sandy beaches and sunshine are shattered. Tout television has many economic prophets.Can you draw on their wisdom to make financial decisions?
Few, if any, industries are immune to the global economic recession that has led to millions of lost jobs across the United States. Despite crunching the numbers and considering alternatives, employers are often forced to conclude that layoffs are necessary to keep the business afloat.
Employers need to focus on determining which employees remain vital to execute the company’s critical functions, ensure that protected classes are not disparately affected, notify affected employees in advance as required by federal and state WARN Acts, and have a plan for discharging those employees that maximizes their human dignity and minimizes disruption to business operations, according to Pepper Hamilton LLP, a multi-practice law firm in Boston.
“Employers should also consider their remaining employees, who will watch their friends and colleagues lose their jobs,” says Steven R. London, a partner in the law firm of Pepper Hamilton. “It’s critical to ensure that your remaining employees maintain their morale, and that they stay motivated under the pressure of trying to maintain operations with a decreased workforce. This is a critical, but often overlooked, aspect of any downsizing plan.”There are 7 items tagged with recession. You can view all our tags in the Tag Cloud
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