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Whether or not the U.S. economy has hit a recession, one thing is clear these days: Uncertainty is in the air, and it affects nearly every economic sector, including the job market.
The recent rise in the U.S. unemployment rate -- 6.7% in November -- indicates that fewer jobs are being created, but the shrinkage may not affect job-seekers in some fields, such as technology or health care. Nonetheless, experts say job seekers should pay attention to current economic conditions and expect that the job-search process may take longer.
Adjust Your Approach?
"The unemployment rate has risen, but it is not at a point that should cause job seekers to panic," says John Challenger, CEO of outplacement firm Challenger, Gray & Christmas Inc. "There is still demand for workers. Those seeking jobs in construction or mortgage lending might have a more difficult time finding employment, but we have not seen a significant downturn in hiring in other sectors."
But when you have to conduct a job-search in a weak job market, the stress level increases dramatically -- especially if you are currently unemployed, expect to be let go from your currentemployer, or work in an industry or profession that has seen widespread job cuts.