As I was surfing the web reading whatever was readable I came across an interesting article in CNN regarding people who gave up searching for job. It was really amazing and heart wrenching to see perfectly normal and able bodied family and single people giving up on job after applying for hundreds of jobs. People who have long experiences in work and who have sent out hundreds of resume are still out of work after more than one year and in one case almost two years. Some of the young folks have moved back to their parents’ house to save money or have no money; some are volunteering to brush up their resumes or just keeping themselves busy.
Even people who have applied with varied experience have found out that they are out of luck since they don’t have the “requisite” experience to land that dream. Peoples dream are getting lost and now it is just a matter of survival. We are losing so much productivity because of this unemployment situation. Now there is no guarantee that you will be able to get a job even with advance degree since the employers have a large pool of applicants with experience to choose from. And with more college students in debt of student loans, the pressure on wages will lead to lower salary for the new employees. This in turn will make them postpone their goals in life further down the road. It is really terrifying and frustrating, but this is how the new economy looks right now.