How to Find a Job in an Economic Downturn

Online guide gives aid to job seekers

As employers put the brakes on hiring in this economic downturn, the best and fastest way to a new job for the nation’s 7.8 million unemployed workers may be to look for positions where others are not: companies that have recently announced layoffs.

Target struggling companies is just one piece of advice being offered by global outplacement consultancy Challenger, Gray & Christmas, Inc., in its new downloadable guidebook, How to Find a Job in an Economic Downturn. The guide can be retrieved at Challenger Guidebook.

The guidebook comes just as the job market is starting to show signs of strain from the housing market collapse that began last August. While job cut announcementshave not surged to levels reached in previous recessions, layoffs are beginning to creep upward. A total of 200,656 job cuts were announced in the first quarter, up slightly from the 195,986 job cuts in the same period a year ago.

In addition, the government’s monthly survey of employer payrolls indicates that more jobs were lost than created in each of the first three months of 2008. This represents the first three-month job contraction since 2002. Overall, American payrolls have experienced a net loss of 232,000 jobs since January 1.

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