How Bad Is Unemployment in the US?

Zero Job Growth in the Past Decade and Other Downer Facts For Job Hunters

The economic downturn has turned many lives upside down, and not in a good way. The current unemployment rate stands at 10 percent, and it's been hovering around that number for a while. It's no wonder that our series of postings by an anonymous job hunter resonated with many people. Business Insider published these scary facts of job hunting that you may not want to know.

  • If you lose your job now, you have a 30 percent chance of finding a job within the next month.
  • If you've faced a year of unemployment, you only have a nine percent chance of finding a job in the next month.
  • Two million people have used up 99 weeks of unemployment benefits. Four million more people will do the same in 2011.
  • There was zero job growth in the past decade, the worst 10 years on record.
  • Last year, more than one in four new jobs were temporary.
  • Forty-seven percent of the work force is fully employed if you factor in the unemployed, underemployed, and discouraged workers.
  • Working forever is a reality according to four out of 10 baby boomers.
  • You're competing against a network engineer in Bangladesh who makes $6,000 annually and a CEO who earns an average of $30,000.

 

Source: Thinkstock
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