Economic expectations

The financial crisis has grabbed voters attention less than two weeks before the presidential election – - but the real trouble – a deep recession – will linger long after the race for the White House ends. Here is what to expect.

1) Know what to expect

First, although an official recession has not been declared yet, about 70 percent of economists believe the country is either in a recession or heading toward one—that’s according to a recent Blue Chip Economic Indicator survey. Economists say that this recession is likely to be longer and deeper than the last two recessions we had that lasted only eight months. In fact, some experts say we could be in a recession for at least a year. And that would be the lengthiest downturn since 1981-1982.

2) Protect yourself

The number one thing you want to protect right now is your job. So, make sure you’re keeping your skills up to date. Work on high profile projects; maintain your contacts by joining professional groups and be visible. If you can, start setting aside some money just in case you have an emergency. In this kind of environment, you want as much cash on hand as you can. College graduates are going to be facing some tough times after they graduate, so make sure you keep your job search flexible in case it’s taking longer than expected to land your dream job. And don’t forget that there are people who will actually do well and benefit in this kind of environment.

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