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Thread: Frustrated job seekers deciding to call it quits

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    Elite Member celeb_2006's Avatar
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    Default Frustrated job seekers deciding to call it quits

    Frustrated job seekers deciding to call it quits

    Many jobless people have reached a conclusion that captures the depth of the unemployment crisis: Looking for a job is a waste of time.

    The economy is growing. Yet it's creating few jobs. That's why in the past eight months, 1.8 million people without jobs left the labor market. Many had grown so frustrated by their failure to find a job that they threw up their hands and quit looking for one.

    And it's why Barbara Bishop sat down at her kitchen table in suburban Atlanta last month and joined their ranks. Her decision came seven months after she quit a PR job that seemed about to be axed. Sending out resumes got her nowhere. So Bishop made a list of her skills and decided to launch her own business.
    "I don't want to look any more," she said of the job hunt. "It's become very discouraging."

    The nation's unemployment rate is 9.7 percent. But so many jobless people have quit looking that if they're combined with the number of part-time workers who'd prefer to work full time, the so-called "underemployment" rate is 16.5 percent.

    Their outsize numbers show that even though the economy is growing, the job market is stagnant. Employers remain reluctant to hire.
    The exodus did halt in January, when a net total of 111,000 people re-entered the job market. But 661,000 had left in December. And the overall trend since spring has been people leaving the work force.
    "It's very unusual," said Mark Zandi, chief economist at Moody's Economy.com. "At this point in the business cycle, we should be seeing some sort of labor force growth. Layoffs have abated, but there really has been no pickup in hiring."

    Job creation was stronger early in previous recoveries. And jobless people responded by streaming back into the labor force. Even before the 1990-1991 and 2001 recessions ended, for instance, more people entered than left the job market, according to an analysis by Moody's Economy.com. The work force did shrink after the severe 1981-1982 recession ended — but not as severely as it has this time, the analysis shows.

    Some workers are concluding it's more practical to return to school, start a business or care at home for their kids until the job market improves. In some cases, it even makes financial sense to stop looking for work.

    Jennifer McDonald, for example, decided she could help her family more by staying home than by hunting for jobs that don't seem to exist near her home in Elizabethtown, Pa. Laid off as a receptionist a year ago, McDonald spent months searching for work as a receptionist or store clerk.

    She and her husband ultimately decided that with two kids, her staying at home made more sense: It would save roughly $300 a week on childcare, along with gas money and time shuttling the kids. The savings would help stretch her husband's income from an auto-body shop.

    Besides, there were no jobs anyway.
    "If you're just sitting there working on the computer all day, not getting paid to do it, it's not very profitable," she said.

    Those leaving the work force have been beaten down by the competition for few jobs. A record 6.4 unemployed Americans, on average, are vying for each job opening, according to the most recent Labor Department data. That's up from 1.7 jobless people per opening in December 2007, when the recession began. And a record 6.3 million people have been jobless for at least six months.
    Even if the economy continues growing this year, it won't likely recover many of the 8.4 million net jobs that vanished in the recession. Economists say the nation would be fortunate to get back 1.5 million of those jobs this year.

    Part of the problem is that outsized growth in the real estate and construction industries disappeared when the housing bubble burst. Many of those jobs are gone for good.
    Construction of homes, for example, could jump 30 percent this year to an annual rate of 715,000, said John Lonski, chief economist of Moody's Capital Markets Research Group. But the industry won't be rehiring many who lost jobs after 2007. That year, there were 1.3 million housing starts.

    The economy would have to grow at an average rate of 5 percent for all of 2010 just to lower the average jobless rate for the year by 1 percentage point. Yet most analysts think the economy will grow 2.5 percent or less for the year.

    That leaves workers hunting for jobs the economy won't likely create for months or even years.
    As head of the Go! Network group in St. Louis, Chuck Aranda has seen how the slog of job hunting wears people down. His networking group offers seminars and breakfast meetings to get frustrated job-hunters out of the house.

    "I think there are people who are doing this alone," Aranda said. "They're in their basements, they're on the Internet. And they're getting disconnected. They lose hope."
    At some point, the exodus will reverse. Zandi thinks many will return by the second half of the year, once it appears employers have ramped up hiring.

    Others will start looking again when their jobless benefits expire. Workers receive 26 weeks of regular unemployment benefits, plus up to 73 more weeks of extended aid depending on their state's unemployment rate.

    Kelley Bryan is hoping to re-enter the job market next year, retrained for a new career. She was laid off in February after more than 20 years as a secretary. Most recently, she worked at a public TV station.
    Bryan spent three frustrating months looking for a similar job near her suburban St. Louis home. Last spring, she decided to return to school. She landed a federal Pell Grant and enrolled at the L'Ecole Culinaire chef training school.

    At 46, Bryan was surprised to find herself learning to make soup stocks and creme brulee with former autoworkers and other 40-somethings. They, too, are changing careers after losing jobs.
    Classes start before dawn. Bryan has gone from wearing business suits and makeup to a chef's garb with dish-soaked hands. The stresses of student life are slight next to the drain of looking constantly for a job, she says.

    Yet for many like Bryan, the struggle may not end once the job market improves. As more Americans re-enter the work force, Zandi says competition will tighten.
    Yes, more jobs will be created. But a greater number of people will likely compete for them. That's why Zandi thinks the unemployment rate could creep up above 10 percent.
    "Even if the job market gains some traction this year, unemployment is going to rise," he said.

  2. #2
    Elite Member Grimmlok's Avatar
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    count me as one one of them
    I am from the American CIA and I have a radio in my head. I am going to kill you.

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    Elite Member louiswinthorpe111's Avatar
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    Grim, you're jobless?

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    Elite Member Grimmlok's Avatar
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    Since last june.
    I am from the American CIA and I have a radio in my head. I am going to kill you.

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    Elite Member louiswinthorpe111's Avatar
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    Wow, I haven't been paying attention....

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    Elite Member Grimmlok's Avatar
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    hehe, i've been considering a move back to my home city of Ottawa.. work for the gov.. it's a much cheaper city to live in, and gov jobs pay well
    I am from the American CIA and I have a radio in my head. I am going to kill you.

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    Elite Member kingcap72's Avatar
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    I'm one of these frustrated job seekers, but I'm not throwing in the towel. I've been out of work for 8 months, and I hadn't gotten any responses on my resume until I revamped the look of it, and now I'm getting more people contacting me.

    I have no interest in going back to school, and the business that I'm thinking about starting wouldn't be enough to support me completely. So, I'm still in the job hunt, because my unemployment extension runs out in May.

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    Elite Member McJag's Avatar
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    You are both good people. Just a matter of time.
    I didn't start out to collect diamonds, but somehow they just kept piling up.-Mae West

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    Elite Member Grimmlok's Avatar
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    Time is the one thing we don't have in abundance
    I am from the American CIA and I have a radio in my head. I am going to kill you.

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    Same here, both me and the hubby are out of work, for more than a year. I am so glad, before all this happened I was very careful with money and we have been lucky and so far are managing. Not great, but we are surviving.

    We haven't been able to get a job anywhere, including retail. We didn't qualify for a reduced mortgage because we had too much money in the bank. Im sorry, next time I will be irresponsible and allow my children to starve. But by golly I will charge to limit on credit cards, insure I am late paying my mortgage late 3 times year, and squander every penny.

    Just this week, two large companies shut down, over 500 jobs gone. There is no solid work. I was offered a job part time 10 hours a week, wouldn't even pay for daycare, may as well stay home and hope I don't become ill, break a bone, or something. No health insurance. It sucks.

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    Elite Member McJag's Avatar
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    Quote Originally Posted by Alysheba View Post
    Same here, both me and the hubby are out of work, for more than a year. I am so glad, before all this happened I was very careful with money and we have been lucky and so far are managing. Not great, but we are surviving.

    We haven't been able to get a job anywhere, including retail. We didn't qualify for a reduced mortgage because we had too much money in the bank. Im sorry, next time I will be irresponsible and allow my children to starve. But by golly I will charge to limit on credit cards, insure I am late paying my mortgage late 3 times year, and squander every penny.

    Just this week, two large companies shut down, over 500 jobs gone. There is no solid work. I was offered a job part time 10 hours a week, wouldn't even pay for daycare, may as well stay home and hope I don't become ill, break a bone, or something. No health insurance. It sucks.
    That is really bad! I am so sorry. In order to get a lower mortgage you have to be totally without funds?
    I didn't start out to collect diamonds, but somehow they just kept piling up.-Mae West

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    Elite Member Mr. Authority's Avatar
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    There are plenty of people I know who have been jobless for over a year. Most of them are over 21 years old and just graduated college and can't find anything. Even worse is that they're applying for retail jobs and competing with the young kids.

    Yet we still have the "bootstrap" and "get a job!" assholes running around here. *sigh*

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    Elite Member Grimmlok's Avatar
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    freaking retail wont hire people who are over qualified either.. thats the crap part.. no jobs in your sector, you cant go for much lower cuz employers figure you'll skip out first chance you get for something that pays more
    I am from the American CIA and I have a radio in my head. I am going to kill you.

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    Quote Originally Posted by McJag View Post
    That is really bad! I am so sorry. In order to get a lower mortgage you have to be totally without funds?
    We didn't qualify because we were/are responsible. To answer your question, yes. We have always had a fixed mortgage and were hoping to reduce our payment for some financial relief. Turned down flat. They actually told us to stop making our mortgage payments. I'm sorry but I will not do that unless I am completely out of funds. My greatest fear is, they would pull the house completely from under us. We have 3 young children, and that is not an option.

    I have two college degrees and can't get anything. Grimm is so correct about not hiring due to being over qualified. I have heard that over and over. What most places do is hire teens at reduced part time and save a fortune. I would be too costly. Also, my age is against me. So, yes I am one of the giver-uppers and place my energies elsewhere towards community service and volunteer work. I am so glad I have been putting money away all these years. otherwise, we would be homeless.

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    Elite Member McJag's Avatar
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    Quote Originally Posted by Alysheba View Post
    We didn't qualify because we were/are responsible. To answer your question, yes. We have always had a fixed mortgage and were hoping to reduce our payment for some financial relief. Turned down flat. They actually told us to stop making our mortgage payments. I'm sorry but I will not do that unless I am completely out of funds. My greatest fear is, they would pull the house completely from under us. We have 3 young children, and that is not an option.

    I have two college degrees and can't get anything. Grimm is so correct about not hiring due to being over qualified. I have heard that over and over. What most places do is hire teens at reduced part time and save a fortune. I would be too costly. Also, my age is against me. So, yes I am one of the giver-uppers and place my energies elsewhere towards community service and volunteer work. I am so glad I have been putting money away all these years. otherwise, we would be homeless.
    I hope you and your hubby start your own business. Is that possible? I know that thought can be scary, but that is the only way to control your own destiny.
    I didn't start out to collect diamonds, but somehow they just kept piling up.-Mae West

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