On 2011-09-07, Doug Freyburger > wrote:

> people on unemployment take jobs similar to the one they lost but for
> many there are no such jobs anywhere.

Much of this is due to the fact jobs during the last boom cycle (dot
com) became absurdly unrealistic. I knew twenty-something secrataries
pulling down 60K yr 2 yrs outta comm colledge and one buddy with a 2
yr degree was getting $120K fer babysitting a govt server terminal.
My buddy was horrified when his job went away and he lost $300K
starting his own business, then hadda settle going back to IT work at
half his former pay.

People who were lucky enough to get those high paying jobs also spent
like the sky was raining money, buying 2.5K sq ft cathedral ceiling
homes and 2 $30-40K cars, boats, motorcycles, etc. Worse, the economy
ratcheted up to take advantage of the craziness. All of a sudden new
cars were no longer $5K, but $30K!, homes no longer $75K, but $350K!!
Now, that half pay job you hadda settle for after a 1 yr search wasn't
enough to even pay taxes.

Welcome to hard times.

nb