"It is said that the current global economic crisis is the worst in 25 years," advises Johan Wasserfall, CEO of Eduloan, a dedicated educational financial services provider. "Companies are closing, people are being retrenched and unemployment queues are around the block - this is certainly not good news if you're in the job market and you'll need to take stock and think smart in order to plan your way ahead."
Dire Job-Market Straits
Scarily enough, according to Stats SA's labour force survey, more than 70,000 informal sector jobs were lost in the third-quarter of 2008, and it is predicted that employment figures this year will fail to reach the 60,0000 mark, which is the minimum required if the unemployment rate is to drop. So what to do? "Instead of going out there and beating your head against the job-market wall, if you are at all able to, rather invest in yourself in 2009 by studying or upskilling in order to give you a headstart and make you more employable once the current economy and job-market stabilises," advises Johan.
Funding Your Future
First decide what and where you would like to study, whether full-time or part-time, and how you will fund your studies - and don't forget to factor in the ‘hidden costs' such as textbooks and study-aids, accommodation, transport, food and entertainment. Aside from the traditional bank-loan funding route, consider a company such as Eduloan, as their specialist focus on education enables them to provide balanced and pertinent advice and funding. "It's vital that you look upon any funding required to finance your studies as a wise investment in your future," says Johan. "In fact, especially in these dire times, start seeing yourself as a ‘mobile business' and ensure your skills are in tip-top shape and able to amply satisfy anticipated future demand."
2009 = Upskilling Time
"One of the additional benefits of studying whilst in a recession is that you can identify which industry sectors are set to experience growth and try and dovetail your upskilling to these sectors, which will hugely increase your employability down the line." Johan cites as an example the fact that whereas the mining and manufacturing sectors saw employment declines of 9.3% and 2.1% respectively in the third quarter of 2008, there is still a severe shortage of some 22,000 accountants, mathematics and science graduates are in high demand across all sectors, and the telecommunications industry is set to boom in the near future. So if you have a flair for figures, science or IT, now is the time to take the plunge, hone your skills and lay the groundwork for a future without the wolf baying at your door. "Even if you are currently employed," says Johan, "you should look carefully at the future prospects of your position and consider studying part-time in order to improve your skills and qualifications, thereby securing your future employability."
Eduloan is the only dedicated educational financial services company in South Africa, focusing on providing financial solutions to students with the goal of ensuring that tertiary education is accessible to all. Eduloan is firmly committed to contributing meaningfully to social and economic upliftment through education and is a responsible financial provider with the interests of its students foremost in mind. For further information, contact Eduloan's Client Services Department on 0860-55-55-44 or visit www.eduloan.co.za.
Editorial Contact:
Chantal Collings
Kezi Communications (Pty) Ltd
Tel: 011 616 1860
chantal@kezi.co.za
www.kezi.co.za
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