All I can say is that the following stats SUCK! Especially for me because I am part of the boomer generation. If unemployment occurs for us, opportunity may not come knocking based upon the following 19 sobering facts about job hunting from The Business Insider report:
1) If you lose your job today, there's a 70 percent chance you won't find a job in the next month.
2) If you've been unemployed for a year, there's a 91 percent chance you won't find a job in the next month.
3) Two million people have exhausted 99 weeks of unemployment benefits. Another four million will do so in 2011.
4) There was zero job growth in the past decade, the worst 10 years on record.
5) In the most optimistic scenarios, payrolls won't return to 2008 levels until 2013. In that time, the population will grow by 5 percent.
6) More than one in four jobs added to the economy last year were temporary.
7) At 2000 levels of labor force participation, the unemployment rate would be 13 percent.
8) When you count the unemployed, underemployed and discouraged workers, only 47 percent of the work force is fully employed.
9) The number of workers over 55 has increased nearly 8 percent in three years. No retirement means no hiring.
10) Four out of 10 baby boomers said they will have to "work until they drop."
11) The average length of unemployment is 22 weeks.
12) For workers over 55, the average length of unemployment is 43 weeks.
13) In one of the hardest cities to find a job, Las Vegas, there are nine applicants for every job opening.
14) No jobs crash since the Great Depression of the 1930s even compares to what's happening now, in terms of the number of jobs lost by the economy as a whole.
15) A 1 percent increase in unemployment leads roughly to a 1 percent increase in suicides.
16) More than 3 million manufacturing jobs have been lost since 1998.
17) The number of motor vehicle manufacturing jobs will decline by 20 percent in the next decade.
18) The number of apparel manufacturing jobs will drop by 57 percent over the next decade.
19) Here is the competition: A network engineer in Bangladesh makes $6,000 a year, while a CEO earns $30,000 on the average.
"Although hiring is improving, that improvement is gradual and the outlook for many Americans is bleak," wrote Gus Lubin and Robert W. Johnson for Business Insider. "Especially the record number of 99ers, the baby boomers with no money saved for retirement, the college debt slaves who can't get a job, and the factory workers who don't have skills for the new economy."
The Business Insider report concluded with the following observation: "Getting a job today means going up against terrifying odds."
This IS scary information! So what is the solution?