LinkedIn’s latest Workforce Confidence Index for Canada – based on a poll of 2,957 members between September 9 and October 19 – found that workforce confidence scores have been trending down among unemployed jobseekers in recent months.
And this group has reported concerning assessments of their financial status, with 43% describing their financial status as “only fair” and an additional 24% describing it as “poor.”
So, what lengths would unemployed active jobseekers go to in order to find a new role in this climate?
Some 81% of Canada’s unemployed job seekers said they are open to considering some form of pivot, whether it’s changing their career to work in a different industry or sector (73%) or working in a different role or job function (62%).
Among them, those in a stronger financial position were more likely to say they were willing to work in a different industry (81% of those with “excellent” or “good” financial situations, versus 70% of those who describe their financial condition as “fair” or “poor”), but less likely to be willing to change roles (59% versus 65%).
Nearly a third of unemployed jobseekers (30%) said they would consider starting their own business or line of work, while 38% were willing to work as freelancers or independent contractors.
Education was also a popular tactic, with 46% open to returning to school part-time or taking online skills classes, and 14% saying they would even go back to school full-time.
Almost half (49%) were willing to take a step back of sorts, with 38% willing to accept a sizeable drop in income and 36% willing to take a sizeable reduction in seniority or title. Among those in more precarious financial positions, 41% were willing to accept the title or seniority change, compared with just 28% of those in better self-reported financial health.
Some 29% were willing to relocate within Canada to where jobs are available, while 13% were willing to relocate outside the country.