Tips for Generating Income in Lousy Job Markets

I just got an email from Gail. She lives in Western Michigan, an area that’s lost thousands of jobs. She was laid off, unable to relocate because her spouse has a good job but almost 60. Gail is over 45 and is being interviewed by managers who are over 20 years younger. She has an unusual work history (teaching combined with executive administrative support) plus a gap in her work while she tutored her learning disabled daughter and cared for her ill mother-in-law.

Now Gail has some unique issues, but I think many of you can relate. Searching for a job can seem endless at times. This also got me to thinking about possible short and long term solutions and I realized that except for the substitute teaching, these could really apply to most anyone looking for a job today.

Here’s what I wrote Gail:

Short Term Cash Generating Solutions:

1) Sign up for substitute teaching. You will be paid by the day. You can accept or decline substitute teaching opportunities, so the assignments have a built-in flexibility, allowing for time to job interview. It will get you out of the house and into the work force.

2) Look for contract job opportunities. These can turn into permanent positions.

3) Volunteer your services in a company or industry where you’d like to find full-time permanent employment. When a paid opportunity opens up, you’ll have inside information and can apply. This could give you an edge because the staff will already know you.

4) Apply for jobs outside of your immediate work history, yet within your work skill capabilities, in order to bring in some income and have employment. It’s always easier to find a job when you’re employed than unemployed. Obviously a full-time job can lock you in and restrict your job search. Consider part-time employment to free some time for job search.

Long Term Solutions:
1) Conduct Informational Interviews Most jobs are never advertised, in spite of the explosion of online job boards such as Monster, so most jobs are filled informally by word of mouth. Most don’t get posted and many aren’t even formally developed into jobs when they’re filled. So, it’s to your advantage to separate from the pack of job searchers, most of whom are passive, and become proactive. Start seeking out the hidden job market.
One way to do this is through informational interviewing. This is an old strategy for identifying job opportunities that haven’t been advertised. It’s just as effective today as it ever was.

2.) Self-Employment Consider developing one or more revenue streams that you can build from home. One of the advantages to self-employment is that you can grow a business that isn’t dependent upon the local economy. There are many ways that you can earn income without having to find a job in Michigan.

Self employment isn’t for everyone. The downside is that it requires an ability to self-manage. You have to provide a service and also market and sell that service. You must wear a lot of hats. It can be lonely and isolating to be a sole proprietor. The upside is that you have tax advantages and you can have more control over your time and your life. If you operate your business from home, you can keep the overhead down. Because your husband has a good job, you already have one steady income in the family. It’s definitely something to consider.

Provide Day Care or Foster Care
Other options, given your experience caring for your daughter and mother-in-law include starting a day care service within your home. Or you could take in one or two foster children. The state of Michigan may compensate you for providing children with foster care.

These are some ideas that would bring in an income and not require you to seek out employment in an area of the country that has a high unemployment rate. I’m sure that several of our readers could add some more ideas as well.

Sue