San Diego’s unemployment rate has jumped up to 4.5%, which normally would be nothing to be alarmed at.
But what worries most economists is that recent job growth seems to be confined to an increasingly narrow range of industries.
Hiring in fields like health care and hospitality has been especially robust.
However, as The Atlantic points out, many of the layoffs we are seeing, coinciding with a slowdown in hiring, are focused on white-collar fields.
This is especially true in middle-management and areas. Some of the blame can be credited to reliance on artificial intelligence to replace real people in the workforce.
But that’s only a small piece of the puzzle.
We are, it seems, sitting in a “frozen” or “stuck” labor market.
Are you currently working at one of these “stuck” companies? Sales aren’t so good, management is having lots of closed-door meetings, and you’re not invited.
What should you do about it?
With serious cuts in both employment and funding being announced daily by the DOGE folks and others, now might be the time to think how these moves might impact your job.
If so, I’d advise you to think proactively about what you might do if your career security is threatened.
An exit plan forces you to listen to yourself and may even reignite your bigger dreams. Who knows, it may be time to reconsider that “perfect” job.
Here are five steps to help you think about your career:
Decide what you really want to do
- Even if your employer is doing great, and you think there’s no chance of a layoff, thinking proactively about what you want may spark a desire to change careers, become hybrid, or even go into business yourself.
Create a professional transition plan
- If you were to leave, how would you transition your workload to your successor? A smooth handoff may be a condition of your severance and reference.
- If your departure is imminent, by your choice or theirs, prepare now. Document the processes around your main responsibilities. If a colleague might be a good fit for your position, recommend them as a candidate.
- No matter how you choose to leave, do it on good because you may want to come back some day.
Consider your personal transition plan
- Update the personal information of colleagues you may want to stay in touch with, since your corporate email will be turned off.
- If you use your work email or phone for personal s, be sure to update these details before you leave.
- Curate work samples for your portfolio, respecting confidentiality agreements. Even if you end up staying, you’ll be glad you built some separation between your professional and personal lives.
Confirm your story with ers
- Talk to whomever will take the reference check calls, HR or your manager about what the company might say about your departure. They may want to couch your exit as a change of strategy, rather than a financial downturn.
- As much as possible, make sure your story rings true. Know that prospective employers will do their best to talk to your immediate supervisor for a reference.
- If you’re thinking about quitting, prepare a compelling narrative for interviews and networking meetings. Are you excited about what’s next? Or just looking for a change?
- Always act and sound like a go-getter, not a disgruntled employee who wants to leave.
Start before your competition
- Start looking before your competition heats up. If extensive layoffs do occur, the job market will be flooded with candidates. Employers will sense they’re in the driver’s seat and will be extra choosy about hiring.
- If layoffs haven’t yet occurred and you don’t want to actively apply for job, you still can get started with updating your resume and LinkedIn profile, rekindling your network (confidentially!), and reading up on companies and roles to get more clarity on what you’re looking for.
Even in today’s crazy job market, there are still plenty of great opportunities. Be prepared to take advantage of them.
Blair is co-founder of Manpower Staffing and can be reached at [email protected].
