Safeguarding your job

It's their jobs. Without a regular income, you stand to lose all your other assets.

New data shows that – using the broader definition of unemployment (including people who have been discouraged and aren't actively looking for work any more) – more than 31% of South Africans are jobless.

South Africa now has about 1.2% of the world's labour force, but makes up about 5.3% of the world's unemployed.

The global economic crisis is making things worse. The International Labour Organisation expects that more than 50 million jobs will go during this downturn.

In South Africa, more than 208 000 workers have lost their jobs in past couple of months. According to some estimates, another 300 000 workers will be retrenched this year.

While mining, the car industry and manufacturing have been worst hit, almost all sectors have been affected by job losses.

Everything to do with housing – estate agents, lawyers, builders, developers – has been hit hard.

Small companies, who are struggling to get bank finance, are being forced out of business.

Last year, the number of liquidations jumped by 140% and already in the first three months of this year, more than 1 000 companies and close corporations were declared insolvent. Many other businesses – including some 1 400 restaurants, which closed their doors in 2008 – are feeling the pain as consumers spend less.

Are any jobs safe?

According to one estimate, one in three South Africans finds themselves in a precarious work situation. More employers are increasingly using casual labour, making workers easier to fire.

But traditionally, jobs in health care, education, energy and security are seen to be recession-proof.

In South Africa, skilled workers in infrastructure – government plans to spend R787bn in upgrading infrastructure over the next three years – should be relatively safe.

Some new types of jobs – like accredited debt counsellors – have also emerged from the current crisis.

Should you switch to a safer job?

Trying to switch to a safe job could be dangerous – particularly if you have to retrain to do something that you do not feel very passionate about.

By the time you have spent money and time on getting new skills, the economy may have moved on and you are stuck in a job you have no interest in.

Talk to experts in human resources about existing opportunities or using your current skills in a safer "industry".

If you are keen to switch careers, extensive homework is needed. Contact people in the chosen industry and professional organisations to find out which skills/qualifications will be most valuable to acquire.

Recession-proof your income