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"unemployed"- How To Survive The Present Economy Recession

  • Jan 2018
  • startup_tips

  • Recently the economy was hit with its worst economic crisis in decades. The export value of crude which is the number one resource in the country nose dive to 52 percent, that is #1.27 trillion Naira and most of the hard currency needed to finance import disappeared. Worst is, the country hardly manufacture what it consumes --making her dependent on import commodities.

    Some economic experts have gone to predict hard times for the country. Only just last year, business confidence stood at about 8.4 percent, people were hopeful and confident in the economy. Also, the country's gross domestic product GDP growth rate indicated a significant growth of 9.19 percent as at the end of September last year compare to the 2.57 percent recorded in the previous year.

    These economic experts have also predicted high inflation rate from 9.6 percent to 10.18 percent just for this year alone. Meanwhile, the almighty dollar continue to fight and dominate the Naira in the foreign exchange market. The present condition of the foreign currency market and the big gap between the parallel market and the inter bank rate is a big worry for everyone despite the desperate efforts f the Central Bank of Nigeria CBN to settle/revive the situation.

    From all indication, it have shown that proper plans needs to be in place in order to be able to handle serous economic issues such as crude oil price drop. And failure to do so will result to naira fall which in turn affects other sectors in the country and likely to cause economy recession which we have been experiencing so far.

    Economy recession is a period of general economic decline and it is usually accompanied by a drop in the stock market, real estate market and increase in unemployment.
    The cause of the decline is clearly seem in the financial report of the oil and gas industries who were unable to merge their total expenditure together with their total revenue which then lead to the laying off of employees, therefore increasing the unemployment rate to an alarming 12.1 percent just for the first quarter of this year.

    According to the labour market report released by the National Bureau of Statistics, the number of unemployed Nigerians increased by 518,000 to 5 million just for the first quarter of this year. It is no surprise that the average individual on the street is always angry and bitter especially with the high cost of living today.

    The purpose of this article is to tell you how or the ways to survive the present economy crisis.

    Take your time to figure out that which you know you are good at but have not given it your attention before now. Find that inner skill which you possess, that is what will drive your interest. Take your time and discover the entrepreneur in you and utilise it to your advantage. For instance, you like the internet and are always online, why not consider blogging. You see, blogging is another perfect way to stay busy while still doing what you love, you can blog about anything you like as long as you have the knowledge and interest in it. And as you continue to blog about interesting stuff and there is enough traffic to your site -- you never know, any corporate firm might be interested in placing adverts on your site and the cash will start coming.
    Or you enjoy teaching and you are good with kids, why not take up a teaching position in any of the schools close or around your environment --at least that will save you the cost of transportation.

    As a graduate, whether you recently graduated or not it is advisable to learn and get trained on skills that will make you employable or make you self employed. This days everyone is talking about learning skills that will be beneficial and make them less dependent. You can apply for a vocational skill that is of interest to you and learn that which you can utilise to bring in income if the jobs are not forthcoming.

    Internship programs gives you the opportunity to use what you learnt in school to expand your knowledge. It is also another way to open your mind to the career choices that is ahead of you. Keep in mind that some companies might refused to pay you or even offer less money when you take up an internship program with them, do not be discouraged if that happens --rather see it as a sacrifice you have to pay in the path to success

    Many graduates hardly ever think of enrolling for professional courses that will help boost their knowledge in order for them to be more marketable. Agreed, enrolling for professional courses can be quite expensive but there is a saying "nothing good comes easy", so you need to make that sacrifice and re-invest in yourself. Being a member of a well-recognised professional body always give one an added advantage.

    Once in a while, group of professionals/experts organizes one serminar or another to enlighten people and discussed about the economy and other important subjects. The private and public sectors most times send their top managers to represent them in such seminars --so you need to try all you can to attend one of the serminars and have the opportunity to talk directly to employers and find out things they look for in applicants while also using the opportunity to sell yourself.

    In conclusion, do not let the present situation in the country deprive or stop you from achieving your set goal. This is the right time to fully invest and improve yourself, so go ahead and start something today. I wish you good luck in your chosen path.





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