"WASHINGTON - An unusually large share of
workers have been out a job for more than six months even as overall
unemployment has remained low, a little-noted weakness in the labor
market that analysts said threatens to intensify the impact of the
unfolding economic downturn.
In
November, nearly 1.4 million people -- almost one in five of those
unemployed -- had been jobless for at least 27 weeks, the juncture when
unemployment insurance benefits end for most recipients. That is about
twice the level of long-term unemployment before the 2001 recession.
The
problem is ensnaring a broader swath of workers than before. Once
concentrated among manufacturing workers and those with little work
history, education or skills, long-term unemployment is growing most
rapidly among white-collar and college-educated workers with long work
experience, studies have found, making the problem difficult for
policymakers to address even as it grows more urgent."
I've never really worried about loosing my job. I have an advanced science degree (M.S.) and an MBA, but the job market out there scares the shit out of me right now.
I know quite a few well educated professionals out there who can't find work or have to settle on a 20% pay cut just to get a job.
Sure is wonderful to be retired.
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BRING THE TROOPS HOME-NOW!
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"They keep talking about drafting a constitution for Iraq.Why don't we give them ours? It was written by a lot of really smart guys, and we're not using it any more".
Considering what has happened to my 401k over the last few weeks. I may never get to retire.
I have two degrees in engineering and over 15 years experience and I can't get a job anywhere.
If my son was old enough to not require childcare I'd likely be looking to relocate closer to Columbus or Cleveland. I've been looking for full time work (I'm an LPN with 20 years exp) since July. I've managed to land a partime gig but come about June part time won't cut it and things will go south quickly in the checkbook area.
Don't let anyone tell you there is a nursing shortage in this area, we've got at least five nursing schools kicking out a class of new grads every couple of months, finding a full time slot is next to impossible.
Heck if things keep up the way they are I may have to move even if he still needs childcare.
A lot of companies are like this now a days. Why hire a full timer and pay benefits, when you can hire 3 part times with greater flexibility and no benefits.