People feel threatened. They stop spending money. Fewer buyers result in fewer sales. Fewer sales result in growing inventories, which results in less need for employees to produce additional products. Companies start laying people off.
Downsized workers spend less money, creating even fewer sales.
I've developed five prescriptions to help employees keep their career's healthy. First, don't wait until they tap you on the shoulder. Keep tabs on the local job market by regularly reading the classified listings. Next, do a personal SWOT analysis. It's an acronym for strengths, weaknesses, opportunities and threats.