With the downturn of the United States economy in 2008, millions of Americans lost their jobs. The number of unemployed, the foreclosure rate, the bankruptcy rate, and the poverty rates are all at their highest levels since the 1960s or earlier. The TV news and the internet news sites all report on this tragedy statistically – but do a poor job of reporting on the real cost of unemployment. Unemployment can cost a person their self confidence, health, possessions, credit rating, and even their marriage and/or family relationships. This book provides some real-life experience and advice for dealing with unemployment.
Unemployment is one of the most difficult things that a person can deal with. It is fair to say that it touches every aspect of your life. This book is divided into chapters that present and discuss several aspects of a persons’ life that are touched and possibly forever changed as a result of an unexpected job loss.
The Perfect Storm: In 2008, the United States entered into the worst recession its’ recorded history. The real costs of this ongoing recession may not be fully known or understood for decades to come. Some two years after the storm hit, the national unemployment rate still hovers around 10 percent with some states closer to 15 percent. An important part of this perfect storm is the fact that a huge number of the American middle class live paycheck to paycheck and carry a large amount of consumer debt and were unable to have any reserves to get them through this crisis. There are many other contributing factors to the storm including gas prices, bank failures, business failures, and jobs being shipped over seas. When all of these factors combined in late 2008 and the lay offs started; a nation became aware of a new reality.
The Modern Job Search. The words bewildering and frustrating do not begin to describe the modern job search. It is fair to say that the current job market is unlike anything anyone has dealt with before. It is a faceless market characterized by tough competition and a lack of feedback and response that is beyond frustrating. Those looking for viable employment are dealing with multiple difficulties on multiple levels. One very difficult fact to deal with is that there are not enough jobs; with the understanding that the salary is a livable wage. The internet has made HR departments faceless. While it does allow for a high number of applications; the return on investment is low because you seldom hear anything about the status of your application.
Self-Confidence. We are not born with self-confidence. Self-confidence is something that is gradually developed and that can be destroyed. Difficult life events such as divorce, bullying, and unemployment are especially challenging for those already struggling with low self confidence. The modern job search does provide much feed-back and what feedback there is may be in the form of an impersonal, generic, rejection letter. One can only take a certain amount of rejection before their confidence is shaken or shattered.
Marriage, Family, and Friends. Relationships are definitely tested and strained during long periods of unemployment. For the first few months, family and friends may be more than willing to help; but as more time passes, their support often wears thin. Sadly, it is often less difficult to deal with public or government assistance programs than it is to deal with the family politics that accompany receiving help from a family member.
Mental and Physical Health. One of the many un-calculated costs of long term unemployment involves mental and physical health. Depression and stress related illnesses such as headaches and stomach ulcers often torment the unemployed. It is a sad fact that these conditions often go un-treated due to already strained finances. If one is lucky, a spouse is still employed and you have major medical coverage but the co-pays are sometimes prohibitive. It is important to maintain your health and to keep taking any prescription medications.
Pride. The unemployed are forced to make a major paradigm shift when it comes to pride. This economy has uniformly stripped the middle class of a sense of pride in where they work. The person stocking shelves at night should be able to have as much pride in their job as a bank president. The bottom line is that both are doing what is necessary to provide for their family. Being laid off from a “good” job deals a major blow to one’s pride and confidence. This is one of the last things to return to normal once unemployment ends.
Credit Rating and Finances. It is fair to say that no one enjoys paying the bills – but when the income is not there, or is severely cut, the mere site of the bill pile can easily reduce one to tears or send them into a fit of rage. Unemployment compensation is usually two-thirds of what you were paid which can cause financial problems for just about anyone. Unemployment is a major contributor to bankruptcy, foreclosure, and collection calls. It is very important to do whatever is necessary to guard and maintain your credit rating while unemployed because many employers are now checking credit ratings as part of pre-employment screenings.
A Future: Thoughts of one’s future often propel them through difficult times. Imagine what it is like when you are not able to visualize the future you once saw due to the financial difficulties that accompany unemployment. When your 401K has been drained, your family is drained, and the collection calls do not stop…you are most likely not feeling very hopeful about the future. Your focus shifts from planning for a future to just living crisis to crisis.
The pain and turmoil of unemployment are part of a reality that the news does not portray when simply presenting the statistics involving unemployment. The human factor must be considered and dealt with before permanent damage is done to the economy and those who have endured long-term unemployment.