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Next Steps After Losing Your Job Due to Covid-19

Published

4 years ago

6 minute read

This post has been submitted to Todayville by Artur Meyster, Founder of Career Karma

Losing your job at any point can be a disheartening and worrisome event, let alone during a global pandemic. With that in mind, however, try to focus on the fact that there are still steps you can take to ensure that you reenter the workforce as an asset to the future of work. Technology is changing everything about how work is performed, as evidenced by the rise in remote work, and more jobs will be disrupted before the pandemic calms.

On that note, the next steps after losing your job due to Covid-19 should be preparatory steps that can help you thrive in this coming future. First and foremost, however, it is important that you remember to breathe and stay calm. The world may seem chaotic right now, but that doesn’t mean your life needs to be as well.

Reevaluate Your Skills

Regardless of the reason you got fired, it is important that you completely break down and reevaluate your skillset. Unless you were in an intensive tech-based career already, it is unlikely that your skillset will be perfectly aligned with the future of work. 

A study by CNBC found that some of the most prominent skills for the future of work will be based on coding or programming. Jobs won’t necessarily be specifically structured for these skills, but rather careers of all types will begin requiring experience with coding as computers begin to dictate business. 

To acquire this soon-to-be important skill, it may be worth looking into top-rated coding bootcamps that can give participants a beginner’s knowledge of coding languages. However, this is not the only tech skill that will be needed in the future. Perform research during this time while you look for a new job, and determine what you are capable of and what interests you.

Reflect on Your Career Choice

Now that you’ve lost your job, it may be worth considering whether or not your career was really right for you. If you don’t believe it was, take an extra minute to ensure that it was the career that bothered you and not the specific job. 

Perhaps your career was the perfect choice for you and you do not regret entering the field you did. If so, you are one of a lucky few. Realizing that you were in the wrong career, however, is actually beneficial if you just lost your job. This means you are aware that you made the incorrect career choice and can rectify that decision by tackling a new field. Unfortunately, it can be difficult for many who are passed the age of a university student to change careers, but certainly not impossible. 

To that end, identifying and pursuing some easier online degrees can be a perfect choice for someone who just lost their job. There are a number of career options that can provide growth in the future as technology takes control of the workforce, many of which now accept online degrees as an accredited source of education.

Consider Attending a Trade School

On the topic of online degrees, there is likely no better path after losing your job than attending a trade school. This form of education, sometimes called a vocational school, is a quick and efficient method of changing careers as they offer specialized courses that prepare students for a specific career.

The Atlantic covered a study that discusses how trade school attendance has risen to levels that rival traditional education enrollment. This option has become respected by employers around the world, and the fact that some trade schools, such as App Academy, don’t charge tuition until you’re hired make them attractive paths.

Technology and the pandemic are changing everything about the work world, but they are also changing education. In today’s day and age, you are never too old to consider a new career path and enroll in some form of online education. 

Conclusion

Losing your job does not mean that the world is crumbling down around you. Treat this event as an opportunity to revamp both your skills and your career. While it may not seem like it now, doing so can set you up for success in the future. Dealing with the loss of your job, whether it was held for a long time or just began, is a difficult task, but making the best of it and growing from this loss can help you to become an even more valuable asset to any company in the future.

 

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WEF panelist suggests COVID response accustomed people to the idea of CBDCs

Published on May 1, 2024

By

Central Bank of Bahrain governor Khalid Humaidan

From LifeSiteNews

By Tim Hinchliffe

When asked how he would convince people that CBDCs would be a trusted medium of exchange, Bahrain’s central bank governor said that COVID made the digital transformation ‘something of a requirement’ that had ‘very little resistance.’

Central bank digital currencies (CBDCs) will hopefully replace physical cash and become fully digital, a central banker tells the World Economic Forum (WEF).

Speaking at the WEF Special Meeting on Global Collaboration, Growth and Energy Development on Sunday, Central Bank of Bahrain governor Khalid Humaidan told the panel “Open Forum: The Digital Currencies’ Opportunity in the Middle East” that one of the goals of CBDC was to replace cash, at least in Bahrain, and to go “one hundred percent digital.”

Humaidan likened physical cash to being an antiquated “analogue” technology and that CBDC was the digital solution that would hopefully replace cash:

“I thank this panel and this opportunity. It forced me to refine my thoughts and opinions where I’m at a place comfortably now that I’m ready to verbalize what I think about CBDC,” said Humaidan.

If we think cash is the analogue and digital currency is the form of digital – CBDC is the digital form of cash – today, clearly we’re in a hybrid situation; we’re using both.

We know in the past when it comes to cash, central bankers were very much in control with all aspects of cash, and now we’re comfortable to the point where the private sector plays a big role in the printing of the cash, in the distribution of the cash, and with the private sector we use interest rates to manage the supply of cash.

The same thing is likely to happen with CBDC. Yes, the central bank will have a role, but at some point in time – the same way we don’t call it ‘central bank cash’ – we’re probably going to stop calling it central bank digital currency.

“It’s going to be a digital form of the cash, and at some point in time hopefully we will be able to be one hundred percent digital,” he added.

When asked how he would convince people that CBDC would be a trusted medium of exchange, Bahrain’s central bank governor said that people were already used to it and that COVID made the digital transformation “necessary” and “something of a requirement” that had “very little resistance.”

“Right now, many of our payments are digital. The truth is, I said that we’re in a hybrid model; there’s less and less use of cash,” said Humaidan.

I think from predominantly digital with a little physical, I think the transition to fully digital is not going to be a stretch.

People are used to it, people have engaged in it and certain circumstances did help. Its adoption rates increased because of COVID.

“This is where contactless started to become something of a necessity, something of safety, something of a requirement, and because of that there is very little resistance; trust is already there,” he added.

Meanwhile, European Central Bank president Christine Lagarde has been going around the world telling people that the digital euro CBDC would not eliminate cash, and that cash would always be an option.

Speaking at the Bank for International Settlements (BIS) Innovation Summit in March 2023, Lagarde said that a digital currency will never be as anonymous as cash, and for that reason, cash will always be around.

“Is it [digital euro] going to be as private as cash? No,” she said.

A digital currency will never be as anonymous and as protecting of privacy in many respects as cash, which is why cash will always be around.

If people want to use cash in some countries or in some transactions, cash should be available.

“A digital currency is an alternative, is another means of payment and will not provide exactly the same level of privacy and anonymity as cash, but will be pretty close in terms of complete neutrality in relation to the data,” she added.

A WEF Agenda blog post from September, 2017, lists the “gradual obsolescence of paper currency” as being “characteristic of a well-designed CBDC.”

Last year at the WEF’s 14th Annual Meeting of the New Champions, aka “Summer Davos,” in Tianjing, China, Cornell University professor Eswar Prasad said that “we are at the cusp of physical currency essentially disappearing,” and that programmable CBDCs could take us to either a better or much darker place.

“If you think about the benefits of digital money, there are huge potential gains,” said Prasad, adding, “It’s not just about digital forms of digital currency; you can have programmability – units of central bank currency with expiry dates.

You could have […] a potentially better – or some people might say a darker world – where the government decides that units of central bank money can be used to purchase some things, but not other things that it deems less desirable like say ammunition, or drugs, or pornography, or something of the sort, and that is very powerful in terms of the use of a CBDC, and I think also extremely dangerous to central banks.

The WEF’s Special Meeting on Global Collaboration, Growth and Energy Development took place from April 27-29 in Riyadh, Saudi Arabia.

“Saudi Arabia’s absolute monarchy restricts almost all political rights and civil liberties,” according to D.C.-based NGO Freedom House.

In the kingdom, “No officials at the national level are elected,” and “the regime relies on pervasive surveillance, the criminalization of dissent, appeals to sectarianism and ethnicity, and public spending supported by oil revenues to maintain power.”

Reprinted with permission from The Sociable.

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Parliamentary Budget Officer forecasts bigger deficits for years to come

Published on April 30, 2024

By

From the Canadian Taxpayers Federation

Author: Franco Terrazzano 

“Every penny collected from the GST will now go to cover interest charges on the Trudeau government’s credit card”

The Canadian Taxpayers Federation is calling on the federal government to cut spending and balance the budget following today’s Parliamentary Budget Officer report forecasting higher deficits.

“Budget 2024 was bad, but the PBO report forecasts the Trudeau government will be running even bigger deficits,” said Franco Terrazzano, CTF Federal Director. “This PBO report should be a wake-up call for Prime Minister Justin Trudeau: get a hold of your spending or interest charges will keep ballooning.”

The PBO projects a $46-billion deficit this year. Budget 2024 projected a $40-billion deficit.

“PBO’s projected budgetary deficits are $5.3 billion higher annually, on average, over 2023-24 to 2028-29,” according to the report.

In Budget 2023, Finance Minister Chrystia Freeland said the government would find “savings of $15.4 billion over the next five years.”

However, “in Budget 2024, the government announced $61.2 billion in new spending,” according to the PBO. “Since Budget 2021, the government has announced a total of $251.6 billion in new spending measures.”

Interest charges on the debt are expected to cost taxpayers $54 billion this year, according to Budget 2024.

“Every penny collected from the GST will now go to cover interest charges on the Trudeau government’s credit card,” Terrazzano said. “Trudeau must balance the budget, cut spending and stop wasting more than $1 billion every week on interest charges.”

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