Yes, you read that correctly. There are places that are experiencing the Highest Unemployment Rate In History. Among other the United States for instance.
You might say, it was expected, and in one way you are right probably, due to the causes of COVID-19.
But even you’re being 100% right and it was predictable, what will be the solution for the unemployed?
What would be the solution if it will happen to you?
That’s a tragedy, isn’t it?
I have a friend who was left without a job when the pandemic started. He was working some 3+ years in his company as a Hotel Front Desk. Thank God to him, he could get some unemployment benefits for 3 months, about 75% of his salary(rules in the Netherlands are, that for every year you worked, you can get one month of unemployment benefits)
From another perspective, I could have seen how this impacted him, because he had to move to a new apartment as well, because the old one was not to afford any more. During the 3 months he was supported by the government he needed to arrange a couple of extra loans to get financially over this time.
Trust me, it was not very comfortable during that period for me.
Now, when the highest crisis is slowly getting down, hotels are opening their doors( and in his case the benefits had stopped) he had a hope to get a “proper” job once again.
Unfortunately, the hotels are not anymore willing to pay the salaries they were, and they are keen on getting employed people with more expertise( my friend did not study the field, he doesn’t speak the Dutch language).
So my friend had to take a bad paid job as a room attendant. He is 36. He has to do some ridiculously underpaid job, he would soon or later hate. He is also afraid of what will come.
He had no mortgage, no leasing, no huge debts. Imagine if someone with those payments to be done would face the same as my friend.
Imagine, that it will happen in other countries where the support from the government is not so beneficial or the outbreak will take a longer time and so the market to recover.
The perspective for many employed people isn’t really bright.
Why the highest unemployment rate in history?
The title is actually referring to the US. Not a long time ago the most powerful, the richest and the most desirable country in the world.
Is the number. That is the highest unemployment rate in history.( After the year 1948)
If you add to it the number of people who stopped to look for a job, and the number of those who are working Part-time, but wishing to work full-time, you will get number *21,2%
*The statistics are from May 2020, there is an expectation it will improve, but probably not very soon to the 3,3% as it was before the outbreak
The cause of the high number is that there is no need for these services during the pandemic, right?
People don’t travel! No one is going to eat outside! So what the waiter would be needed for!?
It is not equal for everyone
Guess who was affected most?
The engineers, lawyers, or managers?
The low paid workers. Such as fast-food workers, dry cleaners, hospitality and tourism workers, waiters included, and so on.
It is maybe unfair at some point, but even if you were providing outstanding results and you were hard worker, you could have been fired easily as never before.
Now, I don’t want to scare you, but these are the facts. What more, there is a huge chance that there are countries which have worse numbers like the US.
You might say, but wait a minute, this all I know already, don’t try to be a smart ass.
I know you might all know it already. But what you might not know is, the solution!
What is the solution?
I really don’t mean to be a smart ass. Actually, I have been in those shoes by myself. I was earning some €10-12 for about 5 years as a Front Desk Agent and later as a Manager. (Funny enough, as a manager you get just slight pay rise)
I know how it can be frustrating to work for someone for such a low payslip. For someone who can’t/ don’t want to care about you in times of crisis and you can be easily the first one to get fired.
The times like these can teach us, what actually really matters for business owners or managers. In most cases, not you as their employer, but their profit( or cutting the losses). In most cases, they actually can’t even choose. Because there are just not money and everyone will first save his/her ass.
But what you can do if you’re as well in this unfortunate categories?
I think you have two options.
One is to become to be more frustrated and blame the virus, or your boss, or the government.
Or you can as a number two option, learn a new skill.
If you decide to go for a number two option, you are on the best way to get out of the crisis even stronger like you were, and eventually, you can begin a new, much more profitable, and exciting career.
What are profitable niches you can get into?
You have to remember one thing, there are niches, which are going to be profitable and they are niches they are going to be less and less profitable.
In my article 5 Great Small Business Ideas, I have written about some niches and markets where it can be interesting to start gaining knowledge.
This guy here is offering a very interesting look at how the market will form in the time after the crisis.
I have to agree and at some point the Tech Skills will be very needed.
Other fields which are raising other then tech-related, are Language Teachers or Tutors, Personal or Life Coaches, Fitness or Yoga Instructors.
Starting with Wealthy Affiliate can be great for you if you :
- are looking for a place to teach you how to start your own online business from scratch
- have some niche, where you want to help people, but you don’t know how to monetize it
- have not a bright idea what you want to do yet, but you know that you can’t continue in your present job due to the pandemic or any other reason
- want to be surrounded around like-minded people from more than 160 countries, who are ready to help you
- want to gain a new skill in the rising tech area, which can improve your chances to start a better paid and more entertaining career
Maybe you are happy and fulfilled in your job and pandemic or any other issues are not affecting your professional in any way, then you can just congratulate you!
But maybe you were really badly affected by the crisis, like my friend or even worse. Either way, there is always a place for learning a new skill. If you’ve got some extra time( in case you are without a job, or having a home office you have extra time for sure) then you could really use the time for some productive activities.
Learning a new skill, in a profitable niche, can help you in many ways.
I hope I could provide you some insights here within my article. Even this is the time where there are places experiencing The Highest Unemployment Rate In History and the job market is very shaky at the moment, there is always some way.
Every crisis is a place where some exceptional leaders were born. Would you be the next?
If you need some help on how to get out of unpleasant situations, or if you have some tips or experiences on how to get of out it, please leave a comment below.
All the best