Today, one of the financial columnists for the Chicago Tribune included a graphic based on some research by the Urban Institute.
The graphic is (broken link removed) (for a short time) - I'm keeping a personal copy which I am willing to LEND to anyone unable to access the Tribune's graphic.
Essentially, the research takes what I wrote as anecdotal evidence in Post 1 and embellishes it with facts from the most recent recession.
Here are some highlights:
Probability of being rehired (at ANY job) within 18 months, broken down by age brackets
25 - 34
Years 2004-2007: 89.1%
Years 2008-2011: 77.4%
% drop: - 11.7%
35 - 49
Years 2004-2007: 88.7%
Years 2008-2011: 76.1%
% drop: - 12.6%
50 - 61
Years 2004-2007: 78.4%
Years 2008-2011: 64.7%
% drop: - 13.7%
62 and older
Years 2004-2007: 54.6%
Years 2008-2011: 40.8%
% drop: - 13.8%
Median employment wage (in dollars per month) AFTER being rehired, compared to wage before losing previous job, followed by the percentage drop
(understand these are AFTER the guys who got raises are factored in - the age category in EVERY instance suffered a drop)
25 - 34
Prior wage: $1,944
New wage: $1,732
% drop: - 11%
35 - 49
Prior wage: $2,400
New wage: $1,949
% drop: - 19%
50 - 61
Prior wage: $2,598
New wage: $2,000
% drop: - 23%
62 and older
Prior wage: $2,074
New wage: $1,100
% drop: - 47%
Remember what I wrote:
Another ugly truth:
If you want a job, you have to make a job out of finding a job. That means learning new skills, new tools, and how to use them correctly. If you aren't willing to do that, don't waste your time reading these threads - there are no magic ways to getting and keeping a good-paying job where you can be happy and have an opportunity to advance. (Even marrying the boss's child doesn't guarantee happiness and opportunity to advance!)
and
A less pithy, but still thought-provoking quote on luck is from a fellow descended from French Hugenots (as am I)
"What helps luck is a habit of watching for opportunities, of having a patient but restless mind, of sacrificing one's ease or vanity, or uniting a love of detail to foresight, and of passing through hard times bravely and cheerfully." Cherbuliez, Victor
My gramps always said,
"opportunity knocks all the time, but some people are too arrogant to answer the door."
and
, most importantly:Some rays of sunshine:
Despite all the gloom and doom, some folks are making job transitions which pay more than the previous job AND supply some work satisfaction to boot.
We need to remember statistics are based on large numbers of individuals. The first question in our minds should be: "How can I separate myself from the pack and stand out in a prospective employer's eyes so I can earn the optimum salary and improve my lot in life instead of falling behind?"
We have threads with advice that works as well today as ever. I list those threads in post 1. Following the advice in those threads WILL help an unemployed or under-employed person separate himself from the pack these foregoing statistics represent.