Surviving High Unemployment Rate in 2019

• Surviving High Unemployment Rate in 2019

The year 2018 is coming to an end and there is nothing anyone can do about it, however, we can take a moment to reflect on series of events that defines us throughout the year and make necessary adjustments going into the new year.

As a nation, Nigeria is not going to reduce her 23.1 per cent unemployment rate in a year or two. Does that mean the unemployed have to put their lives on hold or continue to manage that low paying job?

The National Bureau of Statistics put the total number of underemployed people at 18.2 million in the third quarter of 2018, up from 18 million a year ago. Meaning, waiting for that desired job might take forever and if there is any opening at all be ready to compete with 39.1 million (total number of unemployed and underemployed) people looking to change their situation.

The question is why spending 5 to 8 years looking and praying for that desired job when you could have learnt a skill or two and start building that desired company? Nigeria’s current situation has no respect for graduates. According to NBS, 8.8 million of the 20.9 million unemployed Nigerians were first-time job seekers while the larger part of the remaining number were those that lost their jobs due to harsh economic condition. Again, zero job security after years of waiting and praying.

Start-ups is not just a permanent solution to never-ending job problems but also a national responsibility to reduce the high unemployment rate and enhance economic productivity as stated by the Vice President, Pro. Yemi Osinbajo, during the national VP debate.

Strategies to Survive High Unemployment Rate in 2019

Pick up a New Skill

It doesn’t matter how broke, busy or limited you are, learn a new skill in 2019. Join one of the numerous free online classes like World Quant University where students are taught data analysis for absolutely free and awarded a diploma certificate after 8 weeks. With the skill, you can become a data analyst and work as a freelancer for companies on Fiverr, Upwork and numbers of other websites. Also, you can start consulting for local companies and provide unique insights from their huge data.

A lot of people are stuck in their current situation, not because of limited opportunities but their inability to identify one amid life’s chaos. Often than not, we think we need millions to get started in life, whereas all we need to confront life’s challenges are what today armed us with and genuine efforts.

A lot of people are stuck in their current situation, not because of limited opportunities but their inability to identify one amid life’s chaos.

It doesn’t matter what skill you are planning to acquire, just ensure its a relevant skill with demand, online or offline.

Network With Like Minds

Starting a new business or learning a new skill with limited resources can be challenging but having the right people around you can help ease things and improve your chances. Startups generally struggle with sales at early stage so having people that trust you can help drive and sustain sales at the beginning.

The importance of networking can not be emphasised enough, especially in an economy like Nigeria. Talk to people that share the same aspiration like yourself and those that have done what you are trying to achieve, however, note that having a valuable network means you have to bring value to the table, its usually ‘trade by barter’.

Attend startups events, join professional social media group and write knowledgeably about your industry to establish your expertise. People like Richard Branson has proven that blogging can really boost sales and enhance brand penetration.

Use Social Media to Market Yourself

The advent of social media has changed the way managers approach marketing, in fact, most startups sell more online using their profile than offline where they lack a similar presence. The idea is to create familiarity and establish trust by speaking more about what you do and how businesses, people and friends can benefit from it.

According to Erik Qualman, we don’t have a choice on whether we DO social media, the question is HOW WELL WE DO IT.

Be professional, consistent and concise in every post.

Gaining attention on social media can translate to a job and boost revenue if the right strategy is adopted. It is good to note that you don’t need to have a tangible product, you can sell information and offer a service depending on your field.

Compliment of the season.