March’s unemployment dropped to 4.4% — but the average time a job seeker remained unemployed increased from 16.4 weeks in February to 17.3 weeks in March.
I’d add another one for the job search plan — increase your savings to account for the increase in job search time. After all, seventeen weeks to a new job — on average — means having to survive on your savings if you are laid off for a total of 4+ months. Do you have take home pay, including the ability to pay for COBRA health insurance for 4+ months?
In today’s marketplace, having the financial backing to search for a job — the right job — is a great reliever of stress. Financials in place allow you to systematically look for a position that is right for you.
Behind all six steps of a simple job search game plan are finances that let you do the the work to find the right job. And not desperate for any job.