President Obama on Unemployment in 2009

President Barack Obama is putting off a second stimulus but accepts unemployment will top 10 percent and many Americans will face long periods of unemployment.

In a press conference today, President Barack Obama denounced the violence of the government in Iran against peaceful protesters and also discussed a number of domestic items including clean energy reform, plans for health care and the U.S. economy. Part of his discussions with the media were on unemployment and economic stimulus.

Here’s what was said when asked by a reporter on whether the country needs a second round of economic stimulus (from a Washington Post transcript):

QUESTION: Do you think you need a second stimulus package?

OBAMA: Well, not yet, because I think it’s important to see how the economy evolves and how effective the first stimulus is. I think it’s fair to say that, keep in mind the stimulus package was the first thing we did, and we did it a couple of weeks after inauguration.

At that point, nobody understood what the depths of this recession were going to look like. If you recall, it was only significantly later that we suddenly get a report that the economy had tanked. And so it’s not surprising, then, that we missed the mark in terms of our estimates of where unemployment would go.

I think it’s pretty clear now that unemployment will end up going over 10 percent, if you just look at the pattern, because of the fact that even after employers and businesses start investing again and start hiring again, typically it takes a while for that employment number to catch up with economic recovery. And we’re still not at actual recovery yet.

So I anticipate that this is going to be a — a difficult — difficult year, a difficult period.This news comes on top of recent government data showing a rise in unemployment across a large majority of states.

The President’s take on the economy and jobs is backed up by recent Bureau of Labor Statistics numbers showing increases in unemployment in a large majority of U.S. states for the month of May. Only a handful of states including Massachusetts, Connecticut, North Dakota and Alaska have shown an increase in jobs.

It may be time to consider how to get the broadest perspective on your transferrable career skills and possibly changing industries. From TheLadders article “Is Your Industry in Decline? Make It Work or Make a Move“:

Changing to a new industry isn’t easy, nor is changing to a different role in your own industry, said Robert Hawthorne, president of search firm Hawthorne Research. You have to be objective about your industry’s chances for recovery and for your chances of recovering with it, he said.

Then look at yourself, Neece said [Michael Neece, Chief Strategy Officer, Pongo Resume, Northborough, MA]. Do your skills translate, and can you make the case that your skills add value to a new task? Hiring managers often prefer to hire a candidate with lesser credentials but more time in a particular industry, said Neece. You can try to get ahead of the issue by breaking down your experience into common threads that transfer across industries and explain them in terms of the results you were able to deliver in your previous industry.

Dealing with a layoff, prolonged unemployment or looking to change industries? Here’s some more handy advice:

Checklist: Changing Industries and Changing Careers

Bridge Over Troubled Industries

Signs Your Industry is Endangered

Do You Need Job Retraining?

[Image from Jurveston via Flickr CC 2.0]

Resume Tips: Cover Letter Advice

Career Advice: How to Get a Better Salary