"In addition to being humiliating, the loss of a job will most likely through you into financial turmoil. Losing a job often results in depression as well as anxiety. Not only did your self esteem take a hit, but you are also worried about money. You will probably experience stress until you get a new job or reconcile yourself to the fact that you will have to get by on less money"
"Until you get your bearings, you will face a disruption in your lifestyle as well as your financial status. The uncertainty the surrounds getting another job also affects us when it comes to stress. Losing a job and having to find another job is very stressful"
"Even if we quit a job for a better job, this is still considered a stress factor. Starting a new job, while a good thing, is stressful for most individuals. Why? It breaks our routine. And anything that breaks our routine causes stress"
1. Death of a Loved One 2. Divorce 3. Moving 4. Major Illness 5. Job Loss / Job Search / Job Change
"As the maxim goes, it’s easier to get a job when you already have one. New research shows just how much harder unemployed people have to work to land open positions than their employed competitors"
"Using data compiled by the Federal Reserve Bank of New York from 2013 to 2015, the economists found that while 99.5% of unemployed respondents were actively seeking work, so were 23.3% of those with jobs"
"Almost half of job offers (48.7%) in a given four-week period went to people who already had jobs but were actively looking for others. But 26% of offers went to employed people who hadn’t even been looking for work. Another 8.5% went to students, retired people, or others"
"Unemployed people got just 16% of job offers, despite making 40% of the applications, and those offers came with lower pay and fewer hours and benefits than those extended to people already working"
Source: Quartz, The biggest mistake people make when searching for a job is not acting like they already have one (April 2017)
"If the official unemployment rate included the millions of people working part-time because they can’t find full-time work, or those who want to work but haven’t looked for a job in at least four weeks, the ranks of long-term unemployed would be even higher"
"Hiring discrimination is one possibility. Often, job seekers with long career gaps face inherent bias from employers, who assume their skills are rusty or that they are otherwise unemployable"
"New technology, like applicant tracking systems that sort through the high volume of résumés each job posting receives, can negatively impact the long-term unemployed"
"Another commonly cited culprit is the so-called skills gap, the idea that millions of jobs go unfilled because of the disparity between the skills employers want and those applicants have"
"Mounds of research show that the odds of landing a new job are demonstrably harder for the long-term unemployed than it is for others"
The Longer you are Unemployed, the Harder it is to Get a New Job
Source: Money (Time), Unemployment Is Really Low. So Why Can't These People Find Jobs? (May 2017)
"It would be easy to say that finding employment should be the person's full-time job, but realistically speaking 40 hours per week of job search activity would be more than most individuals could handle"
"A more reasonable target for would be 25 hours per week for those who are not working in an interim job or an internship"
"For those who are working, 15 hours per week would be a more suitable allotment of time"
How to Break Out Your HoursA breakdown of the 25 hours of job search time might look something like this:
5 hours per week should be devoted to composing and refining job search communications including resumes, cover letters and follow-up letters or emails.
3 hours per week searching for and applying to posted jobs through online sources including job sites and employer websites.
3 hours per week identifying organizations in industries and locations of interest to target as prospects for inquiries regarding employment prospects. This time would include completing online profiles and inputting resumes into employer databases.
3 hours per week traveling to and participating in interviews. Attendance at job fairs would be included in this allotment. This time would vary greatly from week to week depending on the number of interviews secured.
11 hours per week should be devoted to various networking activities.
Source: The Balance, How Much Time to Spend on a Job Search (August 2016)
"Over time, experts have estimated it would take very, very roughly one month to find a job for every $10,000 of the paycheck you would like to earn. So, in theory, if you were looking to earn $60,000 a year your job search could take six months"
Factors That Impact the Length of a Job SearchThere are a number of factors that could speed up or slow down your job search. These factors include:
The overall state of the economy and the job market
Economic conditions in the area where a worker is looking for employment
The quantity of jobs in the person's preferred location (try finding a film industry job in Des Moines, Iowa, for example)
The geographic flexibility on the part of the job seeker
The flexibility in terms of job preferences (those exclusively seeking a type of job which is hard to land will likely have a longer job search)
The credentials of the job seeker, and the level of demand for one's skills
The longer one is unemployed, generally the longer it will take to find work
The amount of time and energy devoted to the job search
The quality of job search materials, including the resume and cover letters
The quality of job search strategy, including the level of networking activity
Source: The Balance, How Long Does it Take to Find a Job?