Job security is a dodgy notion.Just ask employees at Yahoo!. They're waiting out rumors that the tech giant will slash hundreds, or possibly thousands, of jobs to increase profitability and help rejuvenate its stock price. The Yahoo! layoffs aren't likely to be an isolated event in thecoming year. With the economy teetering on the edge of recession andshowing signs of an economic slowdown, so-called secure jobs really aren't.
5. Get credit. If you are responsible with credit cards and don'tcarry a balance, now is the time to apply for more credit. The easiesttime to get credit approval is when you don't need it. Call yourcredit card company and ask them to increase your credit card spendinglimit or even open up another credit card account. This additionalcredit shouldn't be used to increase debt, but as an added layer ofprotection in case of a worst-case scenario. 6. Reap employer benefits. Take advantage of any employer benefits offered.If your company offers ongoing training and educational opportunities,take advantage of them to improve your skill sets and your worth as anemployee. If a worst-case scenario does occur and you lose your job,your employer may also offer help and training in finding a new job.Knowing that these benefits exist can help make finding a new joba lot easier than trying to do everything on your own. 7. Be proactive. Instead of keeping your fingers crossed and hopingthat the recession doesn't hit your pocketbook, be proactive and beginlooking for new job opportunities now even if you don't currently needone. Make sure that your resume is up to date, listing yourprofessional experience and highlighting all your talents andabilities. Update your list of contacts at other companies and begininformal networking to see what types of jobs are out there. The time to begin job-hunting isn't when the bad news arrives, but long before. Even if the worst-case scenario doesn't happen, you may find an added bonus: a better job. While a recession can bring about more difficult financial times, it doesn't have to ruin your personal finances. By taking precautionary steps, you will be in a much better position to survive any hiccups that may occur and greatly lessen the impact if a full-blown recession does materialize.