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Job Hunters, Is It Time for a Career Plan B?

By Al Lee , Posted Aug 1st 2011 @ 3:00PM

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Payscale

It has been two years since the recession officially ended in the summer of 2009 and economic expansion began again. However, the U.S. economy clearly isn't back to where it was at the end of the last boom in 2007. And, there are a lot of signs that it is not getting there any time soon in some areas of the country, some jobs and some industries.

How is your career coming along? If you are one of the many people who have been looking for work for the last two years and not finding the job you want, it may be time to take stock and adjust your goals. Simply put, you may need to move, switch industries, take a lower-paying job, or all three, to get back into the workforce.


Move On

Despite the tendency of the media to focus on single numbers, like the current 9.2 percent national unemployment rate, we really live in many different economies:

  • Looking for work in North Dakota or New Hampshire? With unemployment rates back below 5 percent, both have employment situations consistent with what economists call "full employment"; pretty much everyone looking for work can find it.
  • Looking for work in California or Nevada? With unemployment rates still around 12 percent statewide and even higher in some cities, there is a lot of competition for most every job opening.

-- 10 States That Added the Most Jobs in the First Half of 2011


Explore Other Industries

Even if you are in a state that is doing better than average, you still may be waiting for a job that is never going to come. It is not just about location, it is also about the industry you are in.

For example, nationally, construction unemployment is still over 15 percent in June 2011, though this is down from 20 percent a year earlier. That improvement is not because there are more jobs in construction. Total construction employment nationally is actually dropped 1 percent from a year ago.

How is it possible for the construction unemployment rate to be down 5 percent, when the number of jobs available is also down? Basically 6 percent of people who used to be looking for work in the construction industry gave up.

Which brings us to a key question you must consider: Are you like one of the 6 percent in construction who recognized the jobs are not coming back and went for Plan B? Perhaps you decided to look for a job in health care or computer manufacturing, both with over 2 percent more jobs this year than last?

Or are you one of the 15 percent still waiting for a rebound in construction that is still many years away?

-- 25 Jobs in Demand Right Now


Embrace the Pay Cut

Besides looking for a job in a location and industry that is actually hiring, the third piece of realism is about what level of pay you can expect.

An example of this is mortgage originator. Back before the financial collapse, these employees found the (sometimes subprime) customers to take a mortgage for one of the many new houses being built. With healthy commissions (frequently 1 percent of the value of the mortgage), it was not uncommon for a mortgage originator to earn a six-figure salary.

While the job of mortgage originator still exists, and can pay well, the total number of people needed is dramatically lower today. People moving out of this job will have to recognize that, while their sales and financial knowledge may be useful, it may be hard to find an employer who can afford to pay like Washington Mutual did. Arguably, even Washington Mutual couldn't afford to pay as it did during the boom, since it went bankrupt.


Make a Change

Change is hard, but change is what America has always been about. Just before the Civil War, the hot job of the day was steamboat pilot on the Mississippi. As Mark Twain explained, these river experts were in high demand, easily earning more than $100,000 per year in today's dollars.

However, between the Civil War shutting down commerce on the Mississippi, and the expansion of railroads making steamboats obsolete, by the end of the Civil War this job had basically disappeared. Mark Twain went on to be a successful writer (after being a poorly paid newspaper editor) after he recognized that his dream job of steamboat pilot was no more.

Look hard at your "dream job." If it is still out there, make sure you are looking in the right locations, industries, and with a realistic expectation of pay to land it.

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Al Lee

Al Lee

Al Lee, Ph.D. is the director of quantitative analysis for online salary database PayScale.com. Lee regularly contributes to a blog for PayScale called "Ask Dr. Salary," where he demystifies the world of pay and employment. His most recent contribution to making salaries negotiation easier for the average person has been the development of The PayScale Index, which looks at salary trends for various U.S. metros areas, industries and company sizes since 2006.

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rbondo1963

Uhhhhh... Reality check for the author. The recession did not "end" in 2009. Obama was just gearing up to really flush the economy down the socialist crapper. One of the best ways (for the non-Ivy League egghead) to gauge the economy, is to follow the gas prices. Pre 2008 election, gas prices dropped to nearly $ 1.50/gal. Now after 2 1/2 wretched years of this inept oaf that we call "President", gas prices are $3.70/gal. And, that's after a decine in price. The past bears out my notion as well. Do your homework... Gas prices during Carter's presidency vs. gas prices during Reagan's presidency. All of those not-so-"Smart Cars" and Chevy Volts, sitting by the thousands on storage lots (because no one wants them) have not done a damned thing to stimulate anything. Stagnant economy = little use for plan a, plan b, or plan c. If there are no jobs, there are no jobs. Taxing is not going to create jobs. Forcing over-priced, ineffective autos, cork-screw light bulbs, and other such crap, down our throats is not going to create jobs either.

August 02 2011 at 11:50 PM Report abuse rate up rate down Reply
CherMoeLin

Welcome to the "new" America .... the land of OPPORTUNISTS and the home of the poor. CEO's live here but the jobs and money stays overseas. There are lots of sick people here but no insurance. Plenty of doctors and hospitals but no one can afford them. We don't make anything here and even our "service jobs" went overseas. Our government doesn't exist FOR the people, but is an arm of the greedy corporations. Prisons are being built at an alarming speed and waiting for citizens to get out of line, while the guilty bankers, people on Wall street, real estate people, politicians and judges all go free for their crimes against the people. Our rights are being taken away and our Constitution trampled and ignored and misinterpreted. We are a military nation and people around the world no longer look up to us. How sad to see what we've become in what seems to be such a short time.

August 02 2011 at 6:09 PM Report abuse +1 rate up rate down Reply
1 reply to CherMoeLin's comment
snoopydance1984

Couldn't have put it better myself. You hit the nails on the head. Our nation is in very sad shape.

August 02 2011 at 7:11 PM Report abuse rate up rate down Reply
blueyeagle1

There are, in my mind, four major ways to create wealth in any country. I will list these in the order I believe they are historically important in the development of human advancement.

The first is to grow it. Either from the ground as food or from farm animals used for food or as in the early days, used for transportation or beasts of burden to work the land.

The second is to take the wealth from the ground in the form of natural resources...both below the ground in the form of ores and minerals and above the ground in the form of wood mostly and natural occuring medicinal plants. The wood and medicinal plants, of course, are renewable through propagation. Some of the products from below ground are renewable such as the recycling of metals and others such as energy products are consumables and are not.

The third is manufacturing and processing which is to take the ideas of our people, the natural resources from the ground and the effort of our population to create products which value is greater than the sum of all it's parts. This includes agricultural products. We have given away too much of this element of creating wealth for our population to foreign countries.

The fourth wealth factor is education. I cannot stress too much the importance of the education of our population, concentrating that focus on our children. A new idea is the possible invention of a new product or process but cannot be implemented without the education and knowledge to make that happen. Unfortunately, we have not prepared a significant portion of our young people for the way ahead in this new future our country faces.

Service jobs are trading dollars. They are necessary but they do not add to the real wealth of the nation.

August 02 2011 at 5:35 PM Report abuse rate up rate down Reply
blueyeagle1

sorry about the double post!

August 02 2011 at 5:23 PM Report abuse rate up rate down Reply
blueyeagle1

I am not telling you people anything new. The facts are in front of us. It is up to us to do what is best for THIS country so the economic problems of other countries will not impact our success in the future. We must fix our budget problems, take care of our aging population, bring our jobs BACK to this country so we can put people back to work making things we USE AND BUY every day. The only way our economy can be sustainable is if WE manufacture things we use and buy every day. This way as the population grows so does the job base. China needs to solve their own economic problems without our help. If you are afraid of a trade war...forget it..we are losing w/o firing a shot unless we do something quick!! We need to educate our children and retrain our workers if it is needed FOR THE WORK WE ARE ACTUALLY GOING TO DO! We need to bring our troops home from the Middle East and other foreign countries and have them guard our borders and seaports and cut off most foreign aid. There are people who would say this sounds like a FORTRESS AMERICA scenario....ok, can you think of a more appropriate time for it with people in radical countries all over the world running around with their HAIR ON FIRE!! What are we are going to do attack and kill all of them...which ones? For what reason?? That is going to have to be a line we cross very carefully in the future and quite possibly NOT in a full out assault unless our country is in imminent danger. No more screwing around in a ground war with thousands of our soldiers being killed and many thousands wounded! We have to watch more intently and plan more carefully using our technology to our best advantage. I am sure I have not thought of everything, and you could add to this. God bless America.

August 02 2011 at 5:22 PM Report abuse rate up rate down Reply
bailey1808

I've been trying plan B,It isn't working. Went to school to try to get a different job and still can't get nothing. October will 2 years out of work and 2 months since I've had an unemployment check.

August 02 2011 at 5:06 PM Report abuse rate up rate down Reply
Fred

The recession ended 2 years ago... when the depression started???

August 02 2011 at 5:02 PM Report abuse rate up rate down Reply
1 reply to Fred's comment
CherMoeLin

I tried to give this a "thumbs up" but it's not showing.

August 02 2011 at 5:50 PM Report abuse rate up rate down Reply
gts31bumbee

To those out of work nearly year or more, i sincerely hope you grab the first thing to help you 'get by', that is about as good as it will get as the hiring industry in conjunction with the GOPERS have written you off. It certainly will doubly hurt once you realize you have been kicked under the bus by these same repugnant republicans. They have theirs and you are on the outside looking in.... You will be a fool to vote republican again !

August 02 2011 at 4:55 PM Report abuse rate up rate down Reply
Tommy

I would like to know who in this corupt government said that the resession is over ! Must b some loser in the whitehouse that things are well in this country !

August 02 2011 at 4:55 PM Report abuse rate up rate down Reply
Lynda

Florida is one of the worst places right now. I get so mad when I receive a recording on my message machine from Governor Scott claiming that Florida's unemployment is improving and it just gets worse. The medical jobs are plentiful and if you are bilingual - you can find a job. Experience and skills don't make the cut like they use to. Going back to school doesn't guarantee a job either unless it's medical. Many unemployed people can't afford to go back to school. Too many jobless people, too much competition, but the bottom line is too few jobs.

August 02 2011 at 4:45 PM Report abuse rate up rate down Reply
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