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This morning the stock market rose a bit even though the jobs numbers were worse than expected (this makes sense if you buy the idea that there is no logical explanation for daily market movements). Investors expected the unemployment rate to top 7.9% with 648,000 jobs lost in February and the actual numbers were worse -- 8.1% and 651,000, respectively.
But do you really care about government statistics? The simple fact is that if you're now unemployed you're scrambling to find a job and it's probably very tough. And if you have a job, you're worried you won't have it for much longer. I meet with several undergraduate and MBA students each week who are looking for help to find jobs. And the simple reality is that there are no easy answers. But I have three ideas.
Before offering these suggestions, it is worth emphasizing that if you do not have the skills or the interest in these kinds of jobs then these companies will be of no use to you. Also, with the hunger for jobs high, the competition for these positions will be fierce. And if you are trying to "transition" from another industry and you face competition from people within that industry, you will need to do a great job of convincing a potential employer that your previous experience in another industry is valuable.
Without further ado, here are three suggestions:
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Go Green. Within the next two years the $787 billion stimulus spending is expected to create or save 3.5 million jobs -- 79,000 in Massachusetts where I live. $83 billion of that is targeted for green jobs. One company creating those jobs is Conservation Services Group (CSG), an energy-efficiency company, which has hired 50 employees in its main office. Because of the stimulus bill as well as several new contracts, it plans to add 200 more jobs in 2009. CSG currently employs about 400 and does business in 22 states.
- Follow the money. Another suggestion is to look where venture money has been invested most recently. Companies that have received venture cash probably have solid business models -- otherwise they would not have gotten the extremely scarce venture cash. And those firms are likely to use some of that cash to hire people. This MoneyTree Survey gives you an idea of where that money has been invested most recently. It's not easy though -- you have to do some digging to get the names of the companies.
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Go where the growth is. Finally, you can go where the growth is. I have been writing a series of Growth Matters posts on BloggingStocks that currently covers about 30 growing companies -- most recently, Evernote and MocoSpace. You could read each of these posts and if you're interested in the company, you could contact its CEO. I have no idea whether these companies are hiring, but if they're growing chances are they need people to manage that growth.
When the going gets tough, the tough get going. And things are really tough.
Peter Cohan is president of Peter S. Cohan & Associates. He also teaches management at Babson College. His eighth book is You Can't Order Change: Lessons from Jim McNerney's Turnaround at Boeing. He has no financial interest in the securities mentioned.
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Reader Comments (Page 2 of 2)
3-08-2009 @ 5:15PM
Bob said...
Want a job? See your local Army recruiter.
3-08-2009 @ 5:44PM
lramper said...
Bush destroyed america, he spent over 613 trillion dollars on a war so what the hell is wrong is obama spent 850 million on our own country
3-08-2009 @ 7:03PM
luven9forever said...
Obama is trying to make it better in America.. of course things will get worse before they get better and we are just getting started...
3-08-2009 @ 7:13PM
Irma said...
This isn't Obama's mess. This mess was done by Bush and only Bush. And it's going to take Obama to fix it.And he well.
3-08-2009 @ 10:24PM
Z1PPrincess said...
I think what started a great majority of this is the Banks. Loaning people loans for Houses they COULD NOT afford knowing all well they would seel this loan to another company. We need to go back to the Day when you could not get a home loan unless you made 3 times your mortgage. It used to be the law. What happened? I'll tell you greed! Pure and simple. It is about time the banks are being regulated! But it is at our cost! People who could not afford a loan, SHOULD NOT HAVE GOT ONE, PERIOD!!!!!
3-08-2009 @ 8:03PM
David Lapp said...
We being the people of this country need to see if we can by any way change this Government that has been doing this s___ for much to long.
3-08-2009 @ 9:20PM
dave malden said...
If you think the path being followed now is the cure for the ecomonic troubles of the country then in your next post explain why Tatoo removal in California is a governnment sudbidized act. Then explain why high speed rail from LA to Vegas benefits the whole country.
Then wake up your Stepford spouse and have more Kool aid.
3-08-2009 @ 9:33PM
Scott said...
Com-on guys who voted bush in ,even after the crap he pulled 1st time around!
NO I'am not for anyone right now,sorta sensless would'nt you say?
3-08-2009 @ 10:30PM
Rocky said...
First off Obama is not destroying America, the damn Banks with Presidents and CEO's of banks and other corporate structures are due to being overpaid and not bonding jobs for people to work at. Add to that the Insurance companies and mortgage companies and the big three. The greed of these grups caused this economic drop and yet still they are not satisfied and want more and more. Secondly all this green job stuff is all fine but if you do not have skilled labor which has been the backbone of this country from beginning to build for you where is all the stuff going to be housed and where are your offices or your homes if no one is building it for you. Manufacturing of our own items within country is another part of that backbone, why are paying for stuff like steel when we have steel plants that are closed down which can make it here in country, clothing is the same why are we buying from foreign countries, we do not know how to sew in this country? Forget how to garden? Forget how to make more economic vehicles, which the big three have had the techniques for this since the fifties? Oh by the way oil as I worked in oilfield as a rig electrician comes out of the ground unleaded to begin with, they added lead to it. Next off natural gas happens every time one drills for oil. AS another thought for pondering ever hear of Butte MTN. well that is whre nuclear waste could be stored and nuclear power is cleaner than coal power plants for the atmosphere and finally why are we spending monies looking for another planet to live on, a waste of monies here as this is possibly one of dumbest ideas ever and the space shuttle blasting into space is destroying the ionsphere with holes being put in it plus the ost of sending it up is quite extensive. Now figure it out.
3-08-2009 @ 11:27PM
Patrick Whitby said...
Everyone knows how bad the economy is. It is not getting any better. People losing more than just jobs. They are losing peace of mine of affordable health care. Our health is as important as our jobs I think. If there is anything I can do to help anyone please do not hesitate to contact me at my web site http://www.everyonebenefits.com/40659415 or email me at stryker25u@aol.com. Have an bless day.
3-10-2009 @ 8:22AM
john said...
All I see is people blaming on this blog. What can we do to fix this mess. Lets start thinking on fixing this mess. As for the writer JD, you think you know it all. What happens to the person who has no debt, but lost their job. Does that person need to commit sucide. I wish you all the best, but if your world comes crashing down, maybe you will think diffferently. GOD BLESS