For Jobless, Little Hope of Restoring a Lifestyle

[alp227]

Source: NYT

People across the working spectrum suffered job losses in recent years: bricklayers and bookkeepers as well as workers in manufacturing and marketing.

But only a select few workers have fully regained their footing during the slow recovery.

(...)

According to the study, to be released Friday by the John J. Heldrich Center for Workforce Development at Rutgers, just 7 percent of those who lost jobs after the financial crisis have returned to or exceeded their previous financial position and maintained their lifestyles.

The vast majority say they have diminished lifestyles, and about 15 percent say the reduction in their incomes has been drastic and will probably be permanent.

Read more: http://www.nytimes.com/2011/12/02/business/for-jobless-little-hope-of-full-recovery-study-says.html?pagewanted=all

[Lionessa]

1. I resemble that article.

[BiggJawn]

2. I have yet to reach parity with what I made in 1981.

"Adjusted for inflation" I made almost $60,000 a year in a factory, and only needed a high school education to do it.

30 years, a minor degree, lots of trade association seminars and self-study courses later, and I make just a tip over $43,000.

Yeah, "Dribble Down" been berry, berry good to me.

[Demeter]

3. What recovery?

[Mojorabbit]

4. We know a whole lot of people that had one

spouse lose their job, mostly construction and the past few months the wives with state and or more stable jobs have been laid off. I am not seeing recovery in central fl.

[Newest Reality]

5. Yup ...

I've been dangling by my fingernails and the vast abyss awaits my descent. Abandon hope all ye who enter here?

Well, I have come to deep, calm acceptance, (like a dieing person would) and actually feel equanimity about it. Everything is impermanent and changes. Sometimes you find yourself to be what was a representation at the end and realize it was a dream of sorts. Loss can, in that way, be a boon, as odd as it sounds.

[OhioChick]

6. "slow recovery?"

This is a damn depression.

[mvd]

10. +1,000!

I've been saying that! It's still a depression and people are just looking at misleading statistics when they say it's no depression/recession now.

[DissedByBush]

7. I took a big pay hit

For about a year, took me down to food-stamp level, or rather a tiny bit of money above that level so that I wasn't eligible, which set me several hundred dollars more a month back than if I had been eligible. Kids are expensive to feed.

Thankfully my old pay level's back (although not inflation adjusted), but I'm still digging out from that, and will be for a while. Lots of back bills and such to pay, lots of put-off car and home repairs.

I can't imagine trying to recover from a couple years of unemployment, especially in a state that pays very little.

Look at Germany, where you get a high percentage of your former income while you're looking for a job. Short-term unemployment isn't so disastrous there.

[jwirr]

8. My son in law is in his 50s and been unemployed for almost a year

now. He is getting bored of nothing to do so is talking about going back to school for refrigeration and whatever goes with it. I think it is a mistake but he wants to work. Not unlike the people in this article. Anyone know if going back to school is of any use to those over 50 who are now unemployed?

If they are not hiring anyone that age then paying for education is not a good plan.

[mvd]

9. Companies like Apple (and yes, Jobs was no saint)..

sold out American workers and had workers overseas working in terrible conditions. There's just a lack of an American dream now, and that's very sad. I know I'm one who is really struggling.

[No Elephants]

11. All of which simply suggest that the plutonomy is working as the plutarchs hoped, if not better.

Here's hoping it will be a victim of its own great success.

If it had not been quite so thorough, we may never have seen any Americans pushing back.

Occupy ALL streets!