It’s been over two years since the first wave of covid-19 prompted an unprecedented shutdown of offices, factories, and schools. Finally, we are starting to see the U.S. economy is finally moving beyond the coronavirus. Thousands of new jobs have been added on a seasonally adjusted basis, according to the monthly employment report. Economists had been expecting positive news, but the report was far stronger than expected. Hiring is healthy across a broad range of industries, and the labor force expanded by more than three hundred thousand people, as more Americans are returning to work. June 2022 showed an unemployment rate of 3.6 – the lowest since pre-pandemic February 2020 (which was 3.5).
As always, it is important to note that month-to-month job figures bounce around quite a bit. But in February particularly, the report showed that the economy had displayed sustained strength: the employment figures for December and January were revised upward, and the updated figures show that the economy had created almost 1.75 million jobs over the prior three months. That’s close to six hundred thousand a month—roughly three times the rate before the pandemic.
While this is all good news now, the idea of an impending recession could lead to the opposite. Amid various business challenges ranging from market volatility, rising inflation, lagging revenue and a high risk of recession, companies could slow hiring and, in some cases, let workers go. In other cases, this could mean a change in the work-from-home landscape.
A quickly shifting employer-employee dynamic could give companies the ammunition to take a harder line against the full-time work-at-home arrangements that many employees have pushed for. In fact, more companies could start pressing staffers to come back to the office — at least a few days a week.
This means that the hybrid workforce is not going to go away, but the situation where employees refuse to come to the workplace at all is not likely to hold if there is a looming threat of layoffs.
So how can you navigate the ups and downs of the job market in relation to the economy? It always comes down to establishing yourself as a valuable part of the team. Here are 4 things to focus on when positioning yourself as a much needed asset to the business, and to your Executive:
- Have a positive attitude
How you go into a situation greatly affects how you react to anything that happens – good or bad. It’s easier to problem-solve and adapt with a positive attitude, a can-do type of attitude, determination. Inversely, if you were to go negatively or doubtfully into a situation, you will have a harder time accepting things or making them work efficiently.
- Show powerful job dedication
Being able to demonstrate your commitment to getting the job done professionally speaks volumes in relation to your value. Continue to actively search out ways to remain invaluable to your Executive.
- Develop professional relationships
It’s more than being socially connected – building professional relationships sustains your ability to network towards jobs in the future and having connections to vendors or influential people will allow you to serve a higher purpose to your Executive.
- Constantly improve and develop
Just like the courses that we offer at AdminUniverse, look for ways to continue and build on your education. Not only will this serve you well in adding to your capabilities, but it will also show your leadership team how dedicated you are to being valuable.