Given the magnitude of this recession, with millions of people jobless across the world, you need to differentiate yourself to survive this crisis. What can you do to find a new job in case you are laid off, or how can you switch careers and settle into a new industry to become recession-proof?
Although business leaders and communities are laying down strategies to bounce back from the economic downfall, the negative impact is still on the rise. No matter what relief initiatives are taken to protect businesses from collapsing, the economy is not going to be as strong as it was in early 2020. Supply and demand in many industries are shifting, temporarily or permanently. Estimates tell us that almost 3 billion people around the world are now affected by the economic halt. You need to work on an individual level to survive these unforeseen times.
The world is continually changing, and this pandemic is impacting our jobs, skills and competencies. Below are a few ways to survive and succeed in times of crisis.
How will my job and career be impacted by a recession?
A crisis is characterized by two aspects: unpredictability and uncertainty. For instance, due to Covid-19, U.S. GDP is estimated to have dropped by 4.8% in the first quarter of 2020. Due to the abrupt pause in economic activity in both advanced and developing countries, the world economy is encountering a crucial challenge.
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