At a gathering last weekend, my cousin — an electrician by trade– articulated well the market signals he faces.
I asked how his job hunt was going. He replied:
Not great. There’s no work out there. Everybody says I should set up my own shop, but that doesn’t work either. There’s a lot of out-of-work electricians. Whenever you bid work, you’re competing against 20 others. The only way you can win is if you do it at a loss. I’m trying to figure out something else.
He has a skill. He invested time and money in developing it. A few years ago there was high demand for that skill. Now there’s not. That high demand created high supply as people like him chose to pursue that skill.
He’s trying to figure out what to do with the signals the market is sending him. Does he change professions? Some money is better than no money. Does he wait it out? There’s no easy answer.
Sometimes market signals are subtle, sometimes they slap you in the face.