Unemployed and in Good Company
Today, Even High Class & Famous Americans are out of Work
Nov 3, 2009
Journalists, like those writing here on Suite 101, represent one of the employment disciplines that has been especially hard hit in the current US economy. The New York Times and Publisher's Weekly have laid off editors, and Domino is one of many magazines folding at the end of 2009. Nat Hentoff, a venerable writer who was on the staff of New York's The Village Voice since 1958, got the axe in 2008. And it's not only print media that are hurting; even Google and Yahoo laid people off this year.
Journalists are among those in an employment category the government labels as underemployed. These are people with a higher education and viable job skills who are not always counted as unemployed, simply because they are doing some sort of work. However, they maybe working less hours, working in a different field, or earning a lower than traditional salary.
What is the Real Unemployment Rate?
According to a recent feature on the financial site Mint.com, the US government's statistics for unemployment aren't accurate, because they do not reflect those who are underemployed. Nor do statistics incorporate those who've simply given up, such as the 58-year-old who opts for premature retirement.
Back in 1930, the wake of the Depression made the unemployment rate 8.9 percent. The Bureau of Labor Statistics just released figures for September 2009, which show an unemployment rate of 9.8 percent, and a continued decline. If one were to count in all the underemployed, and those who gave up, today's numbers might rise as high as 14 percent. The American economic landscape truly is bleak.
Unemployed and in Good Company
The word company has many different connotations, including a place of business and having personal connections/visitors. So those who are currently out of work technically are in good company. Many people who once held lucrative or high-status careers – including actors, models, pop stars and financial whiz kids – are idle these days. A quick look at the names below should help anyone feel better about their lack of employment .
- Joseph Cassano, AIG Financial Products executive, unemployed since 2008
- Demi Moore, movie actress, hasn't had a flick since 2007
- Jaleel White, actor, hasn't been seen on TV or in movies since 2006
- Zoe Cruz, Morgan Stanley Mortgage president, unemployed since 2007
- Joe Pesci, actor, has't been in a movie since 2006
- Fantasia Barrino, American Idol 2004, last worked on Broadway in early 2007
- Davy Jones, Monkees singer and actor, last time in showbiz was 1991
- Lindsay Lohan, actress/singer, has done more partying that anything since 2006
- Steven Tyler, Aerosmith front-man, has not recorded since 2005
- 25% of citizens in Kokomo Indiana are unemployed, due to Chrysler auto plant closings
- Mary Kate and Ashley Olsen are not acting, but hey, they don't really have to
Then there are people like Ann Jillian, former actress and 80s sex kitten, who isn't acting. Since 2001, after her bout with cancer, she's been a public speaker. That would be considered underemployed, not unemployed.
More Bad News
It's now been more than a year since Lehman Brothers folded and the pattern of corporate downsizing began. Many companies have laid off staff members, or begun work hour reduction and pay cut initiatives. New college graduates are not finding work, are working in fast food (underemployed) or are forced to work as interns with no pay. Sadly, the rate of unemployment among teenagers (16-21) is one of the highest in America, and rose every quarter in 2009 through to this last one.
Still, a Reason to Smile
As the US economy continues to spin out of control and job stats plummet, many wonderful people find themselves out of work. Some are back in school, some are in crisis, some are in transition, and others – well, just say they are in good company. So smile; there's no reason to bemoan the lack of a gainful career.
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