I just did a google news search on "job market" and the top results were all about stagnation, talent demand-supply tension, and impending recession:
From Forbes: "Japan's job market recovery at a standstill as companies battle higher costs"
From Economic Times, India: "Shrinking Job Market"
From Viet Nam News: "Job market suffers from shortage of skilled staff"
From BBC: "New dip in US consumer confidence"
All a bit negative, but then I saw this article from SmartMoney.com: Four ways to keep your job during a slowing job market. While there may be some worry to job cuts (depending on which industry you're in), you still can do something about it. It's important to always be positive, to be prepared, and to perform strong. To "recession-proof" your job, here's a recap of SmartMoney.com's advice:
1. Make yourself indispensable. Best way to do this is to maintain a good relationship with your boss, along with other managers. Make sure they know your up-to-date accomplishments, skills and how you give value to your company. The decision-makers who know how good you are will back you up and vouch for you when it comes to letting people go.
2.Don't be high maintenance. It's human nature, isn't it? High-maintenance people drain you, and make things unpleasant. So even though you perform well, if you're a difficult person to work with, causing problems either through constant complaining or being a "stirrer", you will be on the top of the list when it comes to downsizing, no matter what the official reason may be.
3. Stay busy. This is a given. It also counters the number one step of making yourself indispensable. Show your managers how good you are by taking on assignments and getting involved in projects. Of course, you don't want to bury yourself in work where you can't produce or perform, so be realistic, keep communication open and try your darnest to impress.
4. Do damage control. If the worst does happen - their advice especially for 45-60 year-old employees who may be laid-off, try to negotiate a lower salary to stay on. Although not ideal, it would keep you from having to look for a job when the market is down and also something that's much harder for people in that age group.
Here's what I'd like to add to these steps:
1. Always keep an open mind for opportunities. Whether it be within your company or outside. This means maintaining good relationships with key people in your industry both within and outside of your company, including headhunters & recruiters.
2. Being creative and flexible in your career path. When they suggested making yourself indispensable, that included giving an updated resume/CV to your boss. Take stock of where you've progressed and grown in your career, your accomplishments, newly acquired skills and expertise and gauge it against your overall career goals. Where do you want to be? How close have you gotten? Or how far did you stray? Are the goals still the same as when you made them? Have you found that you've acquired all these new skills that you enjoy and want to pursue even further? Perhaps apply them to a growing industry that won't face big hits as other industries - like green tech or biotech? Consider other locations where the market is still strong? Keep an open mind for opportunities with a creative outlook and where you could go.
