Job Revival 2016 Edition

Posted by in Articles, personal finance | 17 comments

According to a recent jobs outlook report, the job market will make a come back in 2016 if things continue along a sluggish path. Just in time for the 2016 Olympic games I say. Let’s analyze the significance of 2016 as a year:

  • 2016 is a leap year: Next year is a leap year as well, but I’m pretty sure the economy won’t have bounced back quite yet.
  • 2016 is a summer Olympic year: Rio is the place to be if you want to catch water polo or gymnastics.
  • Almost half the US will be over 50: Thanks to the boomers. I’ll be a few years shy, but definitely on my way!

Hopefully job prospects will open up sooner than 5 years from now, but at least there’s an end date in sight. As for what to do in the meantime, I have some ideas:

  1. Live frugally. Continue to live frugally even if you have a great paying job and receive a raise. I wish I had learned this lesson earlier in life. I’m now back-pedaling to catch up.
  2. Think outside the box. I knew right out of college that I didn’t want to work in a corporate setting. That just wasn’t me. It took a while to figure out what I wanted to do – run side businesses while doing something I love; teaching.
  3. Diversify. This is similar to number 2, but if you work in a corporate setting or have a career that’s along these lines, learn a new skill to keep yourself nimble. Diversify your assets as well; don’t bank on just one retirement plan for the future. Make sure you have a few options.
  4. Accept change. Sometimes change is needed to match the current climate. That change might mean a lifestyle change, moving to a less expensive area, working longer, or retiring in another country. I’ve always been open to the idea of change, but actually doing it is more difficult. Note to self: Be bold, make a move!

What do you think, will jobs rebound sooner? Are you out of a job and having to rethink your future?


Join the conversation and post a comment.

  1. No Debt MBA

    I agree with your suggestions on how to cope with a sluggish recovery. I’m not sure what will actually happen, but I really hope things have picked up by early 2013 when I graduate from business school with my pricey degree in hand 😉

  2. Krantcents

    Believe it or not there are jobs out there! You have to market yourself and network. The traditional job search of answering an ad or posting will not work. I agree change is important to be effective in this market.

  3. Squirrelers

    All good tips. It’s a good idea to accept change, and to be able to see it coming. So many people (myself included) have fallen into the trap of getting comfortable with a certain circumstance that we don’t anticipate change. Best to embrace and anticipate.

  4. Amanda L Grossman

    Interesting facts about 2016. That seems like a long time to wait for the job market to bounce back. Fortunately my husband and I are both fine.

  5. John Border

    That is a long time to go, So I am hoping to develop a good passive income stream and get a fair amount in the bank for my retirement.

  6. 101 Centavos

    Sure, there will be new jobs… in Rio. 🙂

  7. Moneycone

    I’ll say keep updating your skills. Things change, upto you to keep up with it!

  8. First Gen American

    During the last downturn, I realized how much deep doo doo I’d be in if both me and my spouses jobs were lost in one layoff (we both work at the same company and that company in the middle of nowhere). We would have to move, we’d have 2 houses to sell and we’d have to sell them in a down market.

    All our decisions since that point have been around increasing our preparedness for mobility in the future. (Finish off house projects, pay down mortgage balances, build equity and savings so that if we move to a higher COL area it won’t sting as much), not being underwater on one of our loans, etc. This makes me feel a lot better, like we’re not just treading water, but working towards being better prepared for the next downturn.

    • Little House

      @First Gen American – That must have been an eye-opening moment. I know that living on a variable income can make it difficult to budget, but at the same time the flexibility allows me to not have to depend on one income. I can pick up extra work from another avenue if one dries up. But paying off debt has definitely helped as well. I’m now down to the last of a car loan (so close!) and student loans. I can’t wait to be completely debt free!

  9. ekg technician training

    The traditional job search of answering an ad or posting will not work. I agree change is important to be effective in this market. Thanks for contributing about this great information.. I admired this post…

    • Little House

      @EKG Technician – You’re right. Sending in a resume is like dropping a needle into a haystack – good luck being found! I think job seekers have to be more visible and daring. And of course networking helps!

  10. granite countertops

    Yes, updating skill is very important. waiting in 2016 is a long time to wait Krantcents is right, there are jobs out there! You have to market yourself and network. You’ll need to join the competition of searching a job. Very nice and very interesting blog. Thanks!!!

  11. pima medical institute

    Job Revival 2016 Edition is very nice to all people who are not working at that time.. But for now 2016 is a long time to wait, granite is right there are jobs out there! But you need to compete your Skill.. Thanks!!

  12. Marie at FamilyMoneyValues

    Wow, 2016 – not sure I agree with that report!

    Your last point is very important. Change happens all the time, change is life and life is change. Repeat after me “change is good, change is good, change is good”.

    As a manager, the folks I favored most were the ones that saw the changes coming, held them up to the light and thought about they meant and then charged ahead with enthusiasm. Unfortunately, most employees resist change – it seems to be human nature.


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