Reflections On Long-Term Unemployment
It’s hard to believe, but in a few short weeks I will mark the one year anniversary of my last day as a small business owner. I did hang around for a few months to help the new owners through the transition period, but I’ve basically been unemployed for all of 2008. Luckily my wife has been an excellent provider and has kept us out of the poorhouse. She will probably never realize how truly grateful I am for her continued support.
If you had asked me a year ago, the possibility that I might be out of work for so long would have seemed preposterous. As the economy continues to deteriorate, I can now contemplate the very real possibility that I could go for another year without work. While I don’t believe that we’re entering a second Great Depression, the economic outlook for the coming year is far from rosy.
Even in a booming economy, I would have many factors working against me. At 47, I look forward and realize that I still have at least 20 productive years ahead of me. Unfortunately, from the employers perspective, they see me as someone who lacks the malleability of a younger employee, and represents higher costs in terms of salary expectations and health care benefits. I am also challenged by the fact that I live in a city with an increasingly one-dimensional economy, and I have already changed careers several times in my life.
In previous jobs, I’ve been responsible for a number of hiring and firing decisions. When evaluating prospective employees, I never looked favorably on anyone whose resume contained lengthy periods of unemployment. Now I am one of those people, and I know that the longer I am without a job, the lower my chances will be of getting one that I want.
Needless to say, my attitude regarding what I want to do versus what I am willing to do has changed considerably over the past year. During the first couple of months I considered some sort of freelance work, but I quickly realized that with my introverted nature, I lacked the contacts and the networking skills required to ever get off the ground. Since the majority of jobs are never advertised, I’m not finding it any easier to connect with potential employers than I would have with potential clients.
One of the major questions I keep asking myself is whether I am I better off to take a giant step backwards and essentially start over again, or should I hold out for something closer to my former position. While working for myself didn’t exactly make me rich, I had enjoyed a very successful career in the printing industry prior to that. If I had the same earning power today that I had then, our combined incomes would make us a target for a tax increase under President Obama’s plan. As it stands today, we’re safely within the 95%. Coming to terms with the notion that my peak earning years may already be behind me is not easy, but it is no longer my primary concern.
The older I get, the less importance I place on money as a measure of career satisfaction. I would be perfectly happy to earn a fraction of my previous income in a job that allowed me to be true to myself. Since I’ve had plenty of time to think about it lately, I’ve also come to realize a few more things about the way we define ourselves by what we do rather than who we are. Money and job titles are a convenient way of keeping score, and we tend to think of high scoring jobs as somehow being more satisfying than jobs that rank lower in income or prestige. Maybe we should all focus more on what makes us happy and not on what other people think of our career choices.
With the exception of our mortgage, the single largest item in our household budget is for child care. Our annual bill from Honeytree is nearly $8,000.00. I’ve considered being Mr. Mom for a while to avoid that expense, but since Jennifer works at home it would be impossible for her to get anything done with Robert in the house. It would also make it that much more difficult for me to ever find a job if I spent all my time keeping watching him. The real kick in the pants is that since I am not working, we won’t be able to deduct our child care expenses this year.
Beyond the financial consequences, extended unemployment takes a personal toll. With every passing day, nagging self doubt brought on by repeated rejection makes it more difficult to put myself out there. I’ve always had problems sleeping, but my insomnia has worsened to the point that I only get about 4 hours of sleep each night. My son is too young to think less of me for now, but one day he will wonder why I don’t go to work like all of the other daddies. I’m not looking forward to that day.
Given that the odds against me finding worthwhile employment are getting worse with every passing day, I’ve come to the conclusion that the only opportunities I’m going to find are the ones I create for myself. Somehow I have to figure out a way to utilize my greatest talents productively while overcoming my inherent weaknesses. In order to make that happen, I probably need to find a partner with a personality that is the polar opposite of my own.
I would almost suggest looking towards Lynchburg, if you haven’t already done so. It was there that I found the best employment after returning to Roanoke when I left the Army.
The downside, of course, is the commute… the reason I left my retail management position up there. After I had the boys, I couldn’t rationalize sacrificing my time with them.
Still, even with the current economic woes, Lynchburg seems to have better employment opportunities than the Roanoke area.
Another suggestion is returning to school to further your degree. With a few hours a day of research and form-filling, you should be able to produce enough funds to pay tuition and have some extra left to subsidize your living expenses. Also, it provides the benefit of removing the stigma of the long-term unemployment.
Beyond that, I’m not certain what sort of business venture might work in Roanoke at present. My pet retail background give sme some belief that a *real* pet store is needed in the area, as the ones we have are either over-priced or poorly staffed and stocked. Done correctly, a new store could easily push Petland and Pet City out of business within a couple years… PetSmart, of course, will always be around and Nature’s Emporium continues to be subsidized by the owner’s other pet ventures. However, it does require a hefty amount of capital to start it off right.
In all respects, I would favor the school option, though I am a bit biased by my personal situation. Still, expanding your degree could help open doors that are currently closed… and ones that may not be overly concerned about age versus experience. It also means not having to find or rely on a partner to produce a route to fulfillment.
I’d love to know more about Matt’s idea about doing research and form-filing to get tuition paid for school because I’d love to go to school. But I couldn’t even afford the gas to get there at this point. And I’m never eligible for any kind of aid. I must be missing out on some secret.
Good luck on the job hunt Chris. Might be hard around here if a prospective employer discovers some of your open-minded views on here. I was recently told that my family was not welcome at a horse club we were planning to join because the secretary read a satirical story I wrote for my blog called “How Sarah Palin Turned Me off Religion.” I had no idea you had to vote a certain way or be a certain religion to join that HORSE club.
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