49% of Workers Think the Job Market Will Get Worse Over the Next 6 Months. Do These Things if You Agree

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KEY POINTS

  • If a recession hits, it could lead to widespread unemployment.
  • There are steps you can take to try to avoid winding up on the chopping block at work.
  • Become more vital to your employer, and build solid relationships with different parts of the company.

Talk about a dire prediction.

The U.S. has an inflation problem, and the Federal Reserve is trying to solve it by raising interest rates. In doing so, the Fed's hope is that consumers will balk at higher interest rates for things like loans and credit cards and cut back on spending in response. Once consumer spending declines, it should narrow the gap between supply and demand that led to inflation in the first place.

The problem, though, is that expensive borrowing could lead to a major decline in consumer spending, not just a moderate one. And that could be enough to fuel a recession and drive unemployment levels up on a national level.

If you're worried about that happening, you're definitely not alone. In a recent Joblist report, a good 49% of workers said they're worried that the job market will get worse in the next six months. And if you feel the same, it pays to do what you can to secure your job. Here's how.

1. Identify a need your company has -- and fill it

When economic conditions sour, sometimes, companies have no choice but to lay off staff members. But if you prove yourself invaluable by learning a skill no else at your company has or solving a problem no one else is capable of tackling, then you might manage to hang onto your job during a period of downsizing. Think about some of the ways you can fill a major gap at work -- and then develop the skills needed to be the person to come to the rescue.

2. Get involved in more areas of the business

If you're one of three staff accountants at a company that's going through tough financial times, it may be hard to make the case to keep you around -- especially if your fellow staff accountants have seniority. But if you do your part to branch out and learn more about your company on a whole, you might manage to secure your spot -- especially if you start getting more actively involved in other operational matters.

3. Build relationships within your company

It may end up being the case that your department needs to cut its headcount. But if you make a point to establish a solid working relationship with people in other departments, that could do the trick of sparing you a layoff.

Say your manager can no longer justify keeping your job around, but you've made a good impression on another manager whose department doesn't have to be cut. You might manage to move into a different role within your company, thereby avoiding an unwanted period of unemployment.

Turn your fears into action

The idea of a worsening job market can be scary. But rather than spend your time stressing about that sort of scenario, focus your energy on doing what you can to secure your job and avoid ending up on the chopping block.

At the same time, it pays to do your best to boost your savings while you are still gainfully employed. Having more money in the bank should give you some peace of mind as layoff-related fears loom.

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