Take Any Job or Wait for the “Right” Job?

Q.  I am the father of a new graduate who told me about your site.  I asked him to ask you a question, but that hasn’t happened so here it is:  The job market in the PR field is terrible, so should my son broaden his focus to get any job and wait out the economy?  I recall when I was his age that I needed to get a job or starve since I had to pay off college loans and live.  I took a menial job until one opened in my field; it wasn’t fun but I survived and gained from the experience.   -DAD

A.   You’re right, but it also is important that your son conduct an aggressive search for a PR position while doing whatever job he’s lucky enough to land this Summer.  The daughter of a friend of mine is serving as a lifeguard but she also volunteers her PR skills for a nonprofit organization as a way to continue building her resume.  Each day, she scans online job postings and networks with other recent graduates, relatives, family friends and their contacts. 

Encouraging news came today from my broker, who passed along a report from JP Morgan Asset Management that analyzed the last nine recessions with regard to unemployment rates and stock performance of the S&P 500.  Bottom line:

1.  Recessions do end

2.  Unemployment usually peaks after the recession ends

3.  The S&P 500 usually starts to move higher before the recession ends

According to my broker, recent firming of the equity market averages may suggest the end of this recession is approaching.  I hope to God he’s right. 

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