Feeling anxious about potential hiring freezes and layoffs? There are proactive measures you can adopt now to safeguard and even advance your career.

Is a recession looming in 2023? Recent surveys indicate that a significant number of economists foresee a downturn this year. Polls suggest a 70% likelihood of a recession occurring soon. We're here to help you prepare for challenging times ahead: we’ve explored how to manage your finances during tough times, strategize your investments, and how to stay focused on retirement. This discussion highlights another crucial aspect of ensuring your goals remain intact despite economic shifts: your career. What effects do recessions have on various job sectors? How should you respond if faced with a layoff? And how can you transform a career gap into an opportunity?

We’re joined by an expert to shed light on these topics. She’s the founder and CEO of Career Contessa, a platform dedicated to empowering women with career insights, coaching, online courses, and a salary database. As the host of the Career Contessa Podcast and author of “Power Moves: How Women Can Pivot, Reboot, and Build a Career of Purpose,” she brings a wealth of knowledge.

She shares valuable lessons from her own journey of starting her career during the Great Recession. Discover how she shifted from her initial role into the recruiting industry, driven by her passion for connecting individuals with career opportunities, which eventually led her to establish Career Contessa.

We also discuss layoffs, referencing estimates that suggest around 125,000 employees were affected by large-scale layoffs in the latter half of 2022, with these trends continuing into 2023. Tune in to learn how to identify if your company is in trouble and what steps you should take to secure your financial well-being before and after a layoff.

Our expert also provides tips for job hunting during a recession. She emphasizes the importance of networking beyond your immediate circle and discusses why many online applications fail. If you’ve submitted numerous applications but received no responses, consider taking additional steps, such as finding the hiring manager’s email and sending your resume directly. It might take extra effort, but ensuring your resume reaches a real person is crucial.

“We’ve made it too easy to apply for numerous jobs online,” she notes. “Instead of applying to countless unsuitable positions, focus on one or two that excite you and invest your full effort into those applications.”

In our listener segment, we tackle a question about managing a lump sum payment her husband will receive after retiring from his volunteer firefighter role. Plus, we discuss the distinctions between investing and trading. For those interested in expanding their investment knowledge, consider joining InvestingFixx, our ongoing investment club for women.