It's no secret that we're in the longest bout of long-term unemployment since World War II. Almost half of America's unemployed have been jobless for at least six months.
A recent poll conducted by Pew reveals the following:
1. A third suffered two or three bouts of unemployment during the recession
2. One out of six were out of work three or more times
As to the level of satisfaction:
1. Eight out of ten re-employed workers were satisfied with their new jobs
2. Four out of ten re-employed workers said their new jobs were better than their old job
3. Two out of ten said they were now higher paid
4. A quarter said they enjoyed more employee benefits than their previous job
5. Fifty-five percent said their families are worse off economically than before the recession
6. A third said the financial shock forced them into lifestyle adjustments
7. A quarter of the re-employed went from full-time to part-time work
8. A quarter are satisfied with their jobs, which is half the satisfaction rate of those who went from one full-time job to another.
The Part-time Solution
What about the long-term unemployed who have not been re-employed? There's an American myth that when you lose your job you "pick yourself up, dust yourself off, and start all over again". Many people who have lost their job have no choice but to reinvent themselves -- by starting their own business. In essence, they are doing the same work they did before, but part-time.
Self-employment was up 5 percent among people between ages 55-64 in 2009, and 29 percent for the over-65 age group.