Layoffs are on the rise, particularly from big companies. Why?
There’s always great flux in the U.S. labor market, even in a recovery. Companies continue to restructure, use IT in new ways, and shift work globally. Some layoffs will continue, since private demand remains weak and state and local governments are cutting back a lot.
Who’s most vulnerable to job cuts today?
The strongest predictor of vulnerability has been and still is education level. Unemployment rates for the least educated tend to be far higher. Those with a strong college education plus professional degrees are much better insulated than those without.
How valid is the notion of trying to ‘layoff proof’ oneself?
Best advice: Stay engaged and work to the best ability. It’s a bromide, but true. Most unemployed people also say they wished they did more networking while they still had a job. It’s not a protection, but people are better prepared if they are laid off.
Why are most downturns worse for men than women?
Construction and manufacturing, where men work more often, are highly cyclical. But many jobs won’t come back. Construction was a bloated industry powered by an unsustainable housing bubble. And manufacturers have restructured, replacing people with machines.
How far away is a vibrant economy?
Real vibrancy depends on innovation, yet the rate of breakthrough innovations has been disappointing. Consumer spending is likely to remain weak until households have rebuilt balance sheets. Targeted fiscal expansion could add to our economic and job growth in the next few years.