As the title indicates, the unemployment rate reached 9.5 % today. Which is a lot. In fact, it’s a 26-year high. Roughly 467,000 jobs were lost in June, which wasn’t as bad as the over 700,000 jobs in January; but it was a step back from last month, when only 322,000 jobs were lost. In fact, the number of jobs lost had slowed down each month, until now. Now, this is bad news for everyone hoping for a recovery. Turns out, employers are making sure the recovery is real before hiring more employees. But their reluctance to hire may just stall the recovery. (Don’t you love economics?)
How high the unemployment rate will go is anyone’s guess. Analysts aren’t ruling out 10%.
The point is that yes, this is bad news, but it’s nothing to panic over. So, don’t panic (Hey, if it’s good enough for the Hitchhiker’s Guide to the Galaxy, it’s good enough for this blog). It’s time to focus on improving your skills and your resume, and set yourself apart as much as you can from your peers (in a good way, not in a criminal record kind of way). Luckily for you, there are tons of good articles about that on ILostmyJob.com.