Employment In An Ailing Economy

In this feature, we discuss how the current economic problems in the United States(and elsewhere) may affect those of us currently employed in the I.T. industry as well as those looking for work. We will also explain how that may affect certifications.

While I am not an economist, I can tell you that the world's economy is heavily affected by what happens in the United States, which means you may feel the effects of this no matter where you are located. Much will depend on how bad things get and how long it lasts.

In December 2000, layoffs were up 200% from 1 year ago and it isn't getting any better thus far in 2001. A recent article posted by CNN stated, "...claims for unemployment insurance are going up as layoffs hit not only the dot-com industry, but banking and manufacturing as well." Layoffs inevitably lead to higher unemployment rates, which creates a situation where more people are competing for fewer jobs. So is this good or bad? Depends on on who you ask. If you are thinking about breaking into the computer industry, now probably is not the time to do it. If you are already working in this field, have a strong skill set and don't get laid off, it will probably increase your market value in the long run. When the economy is good, people have more liquid cash available which gives them more lateral movement to switch careers, go back to school and get training. When times are bad, it will put up a serious roadblock to these types of activities. The I.T. industry is already way short of QUALIFIED professionals and with less people moving into the industry, you will come out shining on the other side - if you can weather the storm.

So you aren't in danger of getting laid off? Well, you aren't out of the woods yet. One of the most popular cost cutting moves is to cut back or cut out training and career development which many consider to be already in very poor shape. In a recent interview after meeting with President elect George Bush, John Chambers of Cisco Systems stated, that Bush understood "...the key issues facing high tech today are number one, education, and number two, workforce preparedness -- the availability of skilled workers in America".

We aren't quite done yet. Were you expecting a big fat raise this year or generous profit share payout? You will probably need to prepare yourself for the worst on these as well.

Many of you pursuing computer certification may now be asking yourselves if it is worth your time to get certified right now in light of all of this. For the last couple of years(during economic boom) we have seen tons of "Paper MCSEs" and other paper certificate holders break into the business. When times are good, companies are more willing to spend money on training and hire people based on other qualifications that they find desirable. When times are tough and bottom lines are being closely scrutinized, corporations will want employees that can come on board and be immediately productive. If it was hard for paper certified individuals to become gainfully employed before, it will only get harder by the day if things persist.

The nice thing about hard times is that they always seem to be periods of great cleansing.

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