According to the Bureau of Labor Statistics, 36 percent of unemployed people --or 5.4 million -- had been without a job for 27 weeks or more in September 2009.
In the current economic climate, people are finding themselves in dire situations. Veteran workers find themselves laid off after 20-plus loyal years with the same company. College graduates, with their diplomas hot off the press, can't find a job. Parents, who perhaps have never had to work outside the home before, find themselves desperate for a job.
Dear Annie: A few months ago I lost a middle-management job at a company where I worked for 14 years. I received four promotions during that time, but it had been quite a while since I actually interviewed for a new job.
It's bonus time on Wall Street and pay czar Kenneth Feinberg is walking a thin line.
When the financial storm sent shock waves through Wall Street and the broader economy, millions of people lost their jobs. Workers in New York City were particularly hard hit. Citigroup, alone, has announced over 100,000 job cuts worldwide since 2007. One casualty was Ebony Blue, a young financial analyst in the investment banking division, who was laid off in December of 2008. There weren't many openings in the financial industry. And with so many people still looking for work, Blue had plenty of competition. With only two years of experience under her belt since graduating from Ithaca College, Blue, 24, like many other young analysts, found it difficult to differentiate herself from a sea of job seekers in the industry.
In the current state of our economy, more than 15 million people are unemployed. That's 15 million people who are all looking for a little help, whether it's in the job search, writing a résumé, interview advice, networking or even finding a new career path.
Network, network, network. That's the conventional advice to the unemployed. But in the worst job market in 26 years, sometimes, it's the only method that works.
Dear Annie: I'm a week away from my 54th birthday and, man, am I getting discouraged. After being laid off from a fairly senior job in May, I've spent the past few months networking nonstop, and managed to get three interviews. One interviewer never got back to me at all, and the other two both said I am overqualified for the jobs they have to offer.
Despite millions of unemployed job seekers desperate for work, many open positions are languishing unfilled. The reason? Not enough candidates.
The 650,000 jobs created or saved by the stimulus package so far make up only a small step toward correcting the gap between the tens of millions of unemployed people and the few openings that those people are fighting over.
According to the Bureau of Labor Statistics, 36 percent of unemployed people --or 5.4 million -- had been without a job for 27 weeks or more in September 2009.
In the current economic climate, people are finding themselves in dire situations. Veteran workers find themselves laid off after 20-plus loyal years with the same company. College graduates, with their diplomas hot off the press, can't find a job. Parents, who perhaps have never had to work outside the home before, find themselves desperate for a job.
Dear Annie: A few months ago I lost a middle-management job at a company where I worked for 14 years. I received four promotions during that time, but it had been quite a while since I actually interviewed for a new job.
It's bonus time on Wall Street and pay czar Kenneth Feinberg is walking a thin line.
When the financial storm sent shock waves through Wall Street and the broader economy, millions of people lost their jobs. Workers in New York City were particularly hard hit. Citigroup, alone, has announced over 100,000 job cuts worldwide since 2007. One casualty was Ebony Blue, a young financial analyst in the investment banking division, who was laid off in December of 2008. There weren't many openings in the financial industry. And with so many people still looking for work, Blue had plenty of competition. With only two years of experience under her belt since graduating from Ithaca College, Blue, 24, like many other young analysts, found it difficult to differentiate herself from a sea of job seekers in the industry.
In the current state of our economy, more than 15 million people are unemployed. That's 15 million people who are all looking for a little help, whether it's in the job search, writing a résumé, interview advice, networking or even finding a new career path.
Network, network, network. That's the conventional advice to the unemployed. But in the worst job market in 26 years, sometimes, it's the only method that works.
Dear Annie: I'm a week away from my 54th birthday and, man, am I getting discouraged. After being laid off from a fairly senior job in May, I've spent the past few months networking nonstop, and managed to get three interviews. One interviewer never got back to me at all, and the other two both said I am overqualified for the jobs they have to offer.
Despite millions of unemployed job seekers desperate for work, many open positions are languishing unfilled. The reason? Not enough candidates.
The 650,000 jobs created or saved by the stimulus package so far make up only a small step toward correcting the gap between the tens of millions of unemployed people and the few openings that those people are fighting over.
Dear Annie: I enjoyed your Sept. 30 column, and readers' comments, about how to decide whom to "friend" on Facebook. I recently joined LinkedIn, which I have heard is a terrific job-search tool, but I could really use some pointers on how to make the most of it. (I lost my old job about six weeks ago and, while my severance pay will last another couple of months, I need to step up my job hunt.)
The nation's employment picture continued to deteriorate in October, although the rate of decline continued to slow, according to two reports issued Wednesday.
Technologies that let employees work remotely have given rise to a growing phenomenon -- virtual internships.
In the end, pay czar Kenneth Feinberg's hardest case was AIG.
Washington launched its biggest offensive yet against Wall Street pay practices Thursday, taking aim at everyone from senior executives to high-flying traders of complex securities.
The Obama administration's pay czar is imposing tough cuts on 175 big earners -- but many on Wall Street are still on track for a banner payday.
President Obama's "pay czar" will soon decide whether top executives at firms that received the most assistance from the government during last year's financial crisis are making too much money.
Getting a job in this economy is tough everywhere, but some local job markets are faring worse than others. And nowhere is it harder to find a job than in Michigan.
AIG Chief Executive Robert Benmosche's $10.5 million annual pay package has been formally approved by Obama administration pay czar Kenneth Feinberg.
From résumés accompanied by shoes to get candidates' "feet in the door," to candidates sending cakes designed as business cards, hiring managers have seen it all when it comes to memorable job-seeker tactics.
The number of first-time filers for unemployment insurance jumped last week, according to a government report issued Thursday, with the increase exceeding economists' forecasts.
Nonprofit CEOs didn't feel the economic pinch in 2008 despite charitable giving having declined for the first time since 1987.
After being laid off this summer, Amy Bauer began to contemplate a career switch (from investor relations to corporate social responsibility). But it had been more than a decade since the 37-year-old from the Baltimore area had even crafted a résumé. For assistance, she turned to a career coach.
With Wall Street continuing to recover, so are the prospects for this year's bonus season.
The résumé is the gateway to most job openings. But even the most qualified candidates have trouble standing out on an 8-1/2 by 11 inch sheet of paper.
Back in April, William Stickney got some unwelcome news. His employer was cutting his salary by 10%.
A handful of major corporations have agreed to change the way they pay their employees, as calls to reform executive compensation structures heat up.
Is there any worse confidence killer than rejection?
It's not just teens and celebrities using Twitter these days.
It seems the longer you've been out of work, the harder it is to find a job.
The pace of U.S. job losses has slowed, but we're not out of the woods yet, according to two reports released Wednesday.
When microblogging and social networking site Twitter debuted three years ago, plenty of people wrote it off as yet another pointless addition in the overcrowded networking world.
For job hunters, that very first line on your résumé can influence potential employers. Just ask Glenn Miller.
Image is everything in fashion, even when it comes to finding a job.
Dear Annie: I hope you can help me, because I am in a real mess here. I was laid off in January and, after a six-month job hunt, was offered a position similar to my old one. The new job required that I move from the Boston area to Atlanta. So my wife and I sold our house at a considerable loss, my wife quit her job, and we signed our kids up for their new schools in our new hometown. The company paid me a signing bonus and paid about half of our moving expenses. (My understanding is that the other half is tax-deductible, since we moved for work reasons.)
Banks that received bailout funds said they are trying to comply with executive pay curbs imposed by the Treasury Department, but the firms are worried about changing rules and an inability to keep top talent, according to a report relesed Wednesday by a TARP overseer.
By now you've heard several times that the job market is competitive and it's more important than ever that you stand out to employers through your cover letter and résumé.
The long-battered U.S. job market showed some signs of improvement in July as employers cut far fewer jobs from payrolls and the unemployment rate fell for the first time in more than a year, according to a government report Friday.
Troubled insurer AIG did not pay $2.4 million in bonuses scheduled to be delivered to top executives on July 15, according to a Treasury official nominee.
Private-sector employment recorded its smallest monthly drop in nine months during July, but the number of job cuts announced in the month spiked 31%, according two reports released Wednesday.
A recent college graduate is suing her alma mater for $72,000 -- the full cost of her tuition and then some -- because she cannot find a job.
Even as top banks delivered abysmal performances last year, they still managed to pay out billions of dollars employee bonuses, according to a study published Thursday by New York Attorney General Andrew Cuomo.
Working from home is the new casual Friday. It's one of those perks that many employers have incorporated into their policies, but it's still not the norm and most everyone wishes it were.
Marleen Graham has been offered two different jobs in the past few months -- but both offers were retracted.
More than 550 laid-off production line workers in Pennsylvania finally got some good news. Oshkosh, the truck maker who gave them their pink slips, is now hiring them back.
It may not be long before shareholders have more control over how much money top executives across the country make.
In the midst of the worst job market in 26 years, desperate job seekers are trying all sorts of extreme tactics to find employment.
On Friday, the federal minimum wage rises for the third year in a row, sparking the perennial argument among economists: Will it help workers at the bottom of the ladder, or will it kill their jobs?
Retirement dreams are quickly fading for thousands of older workers, as the severe market losses that ravaged once-healthy retirement accounts over the last year force many seniors to work longer.
Unhappy at work? You're not alone.
The federal minimum wage is set to increase later this month as the job market shows signs of further decay.
The pace of U.S. job losses has slowed but the labor market is expected to remain weak, according to reports released Wednesday.
In today's challenging economy, odds are you belong to one of two camps: You have already lost your job or you're worried that you could. Either way, you're feeling the stress of the highest unemployment rate in more than a quarter of a century and wondering what you should be doing now to improve your career prospects.
Facebook has become the playground for finding old friends, but for some job seekers, it can also be the key to finding employment.
You know the friend who constantly dates the wrong kind of person? The one who's endlessly frustrated that he or she is going to die alone because all the good ones are taken?
Dear Annie: I know this probably sounds nutty, with so many companies cutting pay or freezing pay in order to avoid layoffs (or, further layoffs), but I'm thinking of asking for a raise. First of all, my employer has not cut or frozen anyone's pay -- at least not to my knowledge. However, we have had layoffs here, so I'm now doing the work three people used to do.
The Obama administration moved forward Wednesday on curbing runaway corporate pay practices, proposing new legislation aimed at giving shareholders a greater voice on executive pay and appointing a new so-called "pay czar."
Can't seem to find a job? Maybe you're just not looking in the right places.
Virginia's Department of Transportation is putting $694.5 million in stimulus funds to work repairing the state's roads and bridges. But that money won't save the jobs of nearly 1,500 of the agency's workers.
The role of the United Auto Workers used to be a simple one: adversary to the Detroit Three, fighting in recent decades to keep jobs in the U.S. and maintain the great wages and benefits that helped create a blue-collar middle class that stretched from Indiana to Michigan.
The expanded Hard Rock Hotel and Casino in Las Vegas, Nevada, has begun adding staff and plans to hire 800 more personnel as construction projects continue.
Dear Annie: I am worried about my husband of 19 years, who had a successful career in manufacturing project management until this recession hit. He lost his most recent job almost ten months ago, and at first he was doing a lot of networking, applying for jobs online, and even getting a few interviews, none of which panned out.
The pace of U.S. job losses -- while still fairly strong -- may be abating, according to a couple of reports released Wednesday.
There are jobs out there, but it might just require a map to find them.
The right words make all the difference in life. Try asking "Wanna get hitched?" instead of "Will you marry me?" for proof.
There was a time, not very long ago, when getting a job on the production line at a big automaker meant an instant ticket to the American dream, even for someone with little formal education. Not anymore.
The United Auto Workers union Friday overwhelmingly ratified a labor deal with General Motors that included concessions, but is not enough to keep the company out of bankruptcy.
The current plans to restructure General Motors and Chrysler LLC will leave the United Auto Workers union in the driver's seat at both companies. But it appears that the union would rather be in the back seat.
The United Auto Workers union has reached a deal with the Treasury Department and General Motors on changing its labor contract with the troubled automaker, one of the key obstacles that needed to be cleared for GM to potentially avoid being forced into bankruptcy in the next two weeks.
Even in the current job market, getting a pink slip doesn't always lead to long-term unemployment - especially if you're willing to do the extra legwork it takes to get hired these days. When David Hudson was laid off from his computer programming job, he sharpened his skills, did his due diligence and took full advantage of the resources available to him.
Let's say you've been job hunting for months now, and applied to so many employers you're starting to lose track of them all. One day you get a call from someone in HR at a well-known company. He found your resume on an online job board, thinks it's very impressive, and is looking forward to meeting you, he says. To set up the interview, he asks for your home address, date of birth and Social Security number.
MIAMI (AP) -- The Miami Heat have laid off employees as the national economic downturn has hit the AmericanAirlines Arena.
In today's tough job market, it's critical to stand out. So how to make sure your application gets noticed: A flawless cover letter? Killer résumé? Glowing reference from the CEO? Not even. In the worst job market in 25 years, building an online presence is crucial to getting a job. Who you connect to, "follow" and "friend" can be just as important as conventional tools like résumés.
As if losing your job isn't bad enough, a new study suggests that people who are laid off are at higher risk of being diagnosed with health conditions such as hypertension, heart disease, and even arthritis than those who keep their jobs.
There are many job fairs around the country where job seekers can meet face-to-face with potential employers. Search the list here by date or to find a job fair near you.
The unemployment rate hit a 25-year high in April, but there were signs of hope as the monthly job loss total fell to the lowest level in six months.
Despite what you might tell your boss, you've shopped online at work.
Have you ever found that the people most guilty of unruly behavior at work are also the ones who are most oblivious to their behavior?
Facing a Thursday deadline, Chrysler LLC appears on the verge of bankruptcy even as the Obama administration signaled a commitment to keep the troubled automaker alive.
Chrysler LLC picked up important support Wednesday night from its rank-and-file union members and President Obama.
As the clock ticked down Wednesday on a government-imposed deadline for Chrysler LLC to prove its viability, expectations grew that the troubled automaker would survive.
The United Auto Workers union announced Sunday it had reached an agreement with Chrysler, Fiat and the U.S. government that meets the requirements of the Treasury Department for loans to the auto giant.
A record number of senior citizens attended a job fair this week in Loveland, Colorado.
Some people go back to school when they lose their jobs. Some spend all day on their couch. Others parlay their situation into a business.
Friends, here's one thing we've all realized by now: This isn't your ordinary garden-variety recession. During one of those - in fact, as recently as last fall - people laid off by one company could often go right out and get hired by a more prosperous competitor. Now, however, entire industries (banking, autos, construction, retailing, newspapers, the list goes on...) are shrinking fast, putting larger numbers of qualified candidates in competition for fewer openings. At the same time, thousands of people are leaving active military service every month. It all adds up to a huge number of job seekers looking for work in unfamiliar businesses - which, for many veterans, means any civilian enterprise.
Holding on to your job can get pretty tough when your industry is crumbling.
Dear Annie: I got laid off from a senior management job in marketing last September, just as the worst of this recession was getting underway, so I'm now coming up on six months' unemployment. As a hiring manager for many years (I'm 47), I always looked askance at candidates who had been out of work this long, so now I'm worried that prospective employers will do the same to me.
Job fairs are getting more competitive. Recent events across the nation drew thousands of people and one fair was so packed organizers had to turn people away.
Dear Annie: I lost my job as an IT manager in a downsizing last November and am still looking for another one. Apart from the fact that the tech job market is pretty flat right now, and employers seem to be taking a wait-and-see approach to hiring, I think my personality is getting in my way.
Unemployed people with disabilities are having increasing trouble finding a job.
With a record 12.5 million people unemployed in today's labor market, it's apparent that now, more than ever before, the people looking for employment must work even harder to ensure that they stand out to employers through their applications.
Dear Annie: I've been looking for a job for three months, putting in eight-hour days of contacting people I used to work with, attending industry events, "meeting" people and joining groups on social networking sites, and putting out every other kind of feeler I can think of. I've had a couple of rounds of interviews, but each time, what looked very close to being a solid offer suddenly turned cold.
As the economy melted down last year, so did CEO paychecks. The average compensation for 200 chief executives at America's largest public companies fell 5.1% last year to $10.8 million, according to a survey published Sunday by the New York Times and research firm Equilar. The decline marked the first time in five years that top executives' pay packages shrank compared to the year before.
Job losses continued to mount in March and unemployment hit a 25-year high, according to the government's latest reading on the battered labor market Friday.
In today's tough economy, many people are praying for a job offer. When Michel Butler headed to church, he ended up with multiple offers.
These days, finding a job is all about who you know. But what if you're in a new city and you don't know anybody? Marissa Anshutz, 27, had a blossoming career in public relations in New York City, but the L.A.-native yearned to go even farther east.
The secret to finding a job in a tough market? Put yourself out there, even when you're not looking for work.
Finding a job in this economy is tough, finding two jobs is nearly impossible, unless you know someone who knows someone who can help.
With gas prices inching their way back up and traffic in most metropolitan areas bottlenecking along any rush-hour route, it's a wonder that the majority of the modern office workforce doesn't telecommute.
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