You Don't Have to Go Home Again - Job Loss & Scrambling

 Sure, we all know about the 32% of young people who never move out of their parent's home. Can't afford to, not even with jobs. 

But the really soul-wrenching saga is this: professionals losing their jobs and returning home.

Reddit bares witness to that current tragedy. Here's a snippet:

"My kid is 30 and was totally derailed when he lost a very good paying job. Took him over 9 months to find a new one. We are good. He can live with us for free until he saves enough to move. No rush and no pressure on him. It’s hard."

That story has a happy ending. Many others who boomerang home don't. The decision usually is shame-based. They give up independence which erodes a sense of self and with that the confidence to put together a soldi next. The location might be devoid of opportunity. Proximity to the network can go poof. 

Get it: The price for affordability might be way too high in terms of again earning a good living.

This is anecdotal. During the Great Depression when I coached laid-off law-firm associates I observed that those who boomeranged home rarely regained their professional momentum. Those who scrambled to stay in place, even if that meant living in their cars or couch surfing, usually eventually landed plum jobs. 

This lesson is important right now. 

More than 60% believe the current challenging labor situation will get worse.

Back to law firms. Recently, Paul, Weiss partner Brad Karp projected AI-driven negative impacts on hiring. In addition, since AI can transform lucrative practices into commodities, big jobs could be lost. 

On Blind, the anonymous professional network for techies, is this: 

"Future is dark- winter is coming hard To be honest, I never felt this much threatened of job future.. may be exaggerated but this is beginning of the end. Every company will shed atleast 30% jobs in 2 yrs is my strong feel.."

The seeming cost-efficiency of bolting back home may permanently lock you into reduced work opportunities. 

During the early 1980s steep recession, I had been laid off in the New York Metro area. I could retreat to a vacant unsold family home in Pittsburgh, Pennsylvania. I asked a headhunter about about that. No way was the answer. Within 36 days I accepted a job paying $20k more. No, it wasn't in Pittsburgh. It probably wouldn't have happened from Pittsburgh. 

Takeaway: Operate from a position of strength. That could be where you are.

Careers. Forget all that. It’s about earning a good living, no matter what. Intuitive coaching and, upon request, tarot readings.

Complimentary consultation with Jane Genova, StreetSmart Coaching (janegenova374@gmail.com)


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