Unemployment rates continue to rise as we settle more deeply into our current recession. Washington’s rate has hit 6.3%, and the nation’s rate is 6.7%.
Every day’s newspaper brings new sad stories to the business section – layoffs, bankruptcies, business closures, cutbacks, stock prices plummeting. They should perhaps retitle the business section the “Horror Section”.
More disturbingly, I’m seeing friends and acquaintances impacted by this. I know at least three people who are anticipating being laid off in the next six months, and another within the year – and these are not junior, front-line employees. These are college-educated, licensed, valuable senior professionals with considerable company seniority.
My husband’s employer has been through several layoff cycles, leaving the survivors depressed and and in a state of shell-shock. My employer seems to be operating efficiently for now, although new hiring seems to be pretty minimal.
I am very sad for those who are losing their jobs or needing to make a change during these tough times because prospects for a decent new one would seem grim in this economy.
What would you do if you found out – with decent notice – that you were being laid off? Do you have a contingency plan? While we have a savings cushion and I have several weeks of unused leave, I sure haven’t thought it through beyond that.