Ask the unemployed guy who's giving up looking

Miscellaneous and Personal Stuff I Must Share
1

A little background. I’m 58 and had managed to go more than 20 years between my first and second layoffs. Since then, it’s been a little rougher. I lost a great, rewarding, unfortunately underfunded position in 2005 and was out of work for almost exactly a year, but we got through it.

Then in 2006 I landed a good, stable job, that I thought was a perfect fit. It wasn’t, and I was let go after a year.

Since then, I’ve managed to do some free-lance work and get a couple of short-term temp jobs while searching for work. My unemployment ran out in 2009. In the last almost 3 years I’ve applied for more than 400 jobs. But the straw that finally led me to throw in the towel was earlier this summer, when I found an opening at a not-for-profit. Not only was I a perfect fit, but I knew the director personally, and I had worked with one of the managers for three years.

On Thursday the director called. I didn’t get the job. She explained her decision for 20 minutes, and while I accept her logic, it was devastating.

My wife has her pension and a small amount of Social Security. We haven’t yet had to draw down our 401K’s, and we have a lot of equity in the house ready to be tapped. Meanwhile, I don’t have much to show on my resume for the last three years, and the technology in my field is changing rapidly. I’ve taken classes to keep up, but that doesn’t count as real-world experience.

So, after a long talk with my wife and some serious number crunching, I’m packing it in. We’re moving to a post-retirement financial plan and lifestyle.

But if failure is the best teacher, I have a lot of lesson plans. Any questions?

2

Are you content with it? Do you think you will be happy?

3

Wait, you’re a guy? I always thought you were a woman! :smack:

4

I’m not happy about it, I suppose the correct word would be “fatalistic.” I think I still have a lot to contribute, and I’ll find some way to do it, most likely volunteer work.

Of course, if no one wants me for free, I suppose I’ll be really unhappy.

Covered_in_Bees!, you aren’t the first (or 10th) person to think I’m a woman. I like to believe it’s because the world view expressed through my posts goes beyond gender-based thinking and avoids the trap of phallocentric reasoning.

5

What line of work were you in?

6

Broadly, marketing communications. I’ve had jobs in public relations, advertising, organizational communications, writing and editing, etc.

7

First off, my sympathies. I think I would be devastated, too. I don’t want to be too invasive, but do you mind sharing the reasoning behind the director’s decision? It sounds to me like you’d be a shoe-in.

8

Wow, you have my sympathies kunilou.

I have a question - a single parent I know in a similar quandary actually sold her home (in 2007, when the market was strong) and now rents a smaller home in the same neighborhood. Would you consider doing this once the housing market improves?

Do you have grown children, if so, how are they affected?

Is your wife still working, and what’s your healthcare situation like?

9

I’m sorry about your situation. It sounds like your giving up? When the going gets tough, the tough get going. Your almost at retirement age and you don’t have to go out with a big job. Have you considered taking a lower paying job for a few years? I also had one main job but the job market is so sketchy right now. Many companies hire temps and then pick from the temps the ones they want to keep. Just a thought. Good Luck.

10

Thank you. As I said, she spent 20 minutes letting me down, so it was more than a courtesy call. In brief, it’s a public interest group that lobbies the state legislature. The directors have pretty strong connections around here, but not in other parts of the state. They had a candidate who had connections with other legislators. That was something I couldn’t offer. So, while I had all the qualifications they asked for, there was another candidate who brought something extra. As I said in the OP, her decision makes perfect sense. Of course that doesn’t make it hurt less.

Our healthcare situation is favorable. My wife has health insurance for the two of us at the retiree rate. It would be nice to have my own benefits to cut back on that expense, but at least we have insurance. My wife can’t go back to work full-time in education, as she’d lose her pension. She did work part-time for a year after she retired, but was laid off. She won’t go for another job in education, but would do something to bring in more money if things get critical.

However, since it’s her pension and her health insurance, I feel like it’s my responsibility to bring some cash to the partnership.

Our adult daughter is still living at home. Her hours have been cut back at work and she’s actively looking for another job. My last-ditch emergency plan would be to sell the house and move to some place smaller, but right now it makes more sense to refinance the house and take out equity to pay off the loans we took out for our kids’ college educations. The loans, by far, are our biggest debt and the payments are our largest monthly expense. With more families around here downsizing than upsizing, the market for apartments and condos is actually stronger than the market for family homes like ours. We only owe about $25K on the house, so right now our monthly expenses will be lower by refinancing the house, cashing out enough to pay off the loans (but retaining some equity), than if we sold the house outright and movied into a smaller place.

11

I saw this too late to add to the other post. I have temped, but even those jobs have dried up. The last time I talked to the temp agency, they told me “our clients have made it clear. Unless you have exactly the skills and experience they stipulate, they will not even consider you.”

Of the more than 400 jobs I’ve applied for, many of them wouldn’t have paid even as much as temp work. Salary absolutely was not an issue in my thinking. If I felt I was qualified for the job, I applied.

12

I’m sorry about your situation.

I realize everybody’s sitation is different. But I just heard some encouraging news today. Two cousins of mine, who have been unemployed for about a year each, just got good job offers.

13

Have you considered signing up for MediaBistro.com and pitching for Freelance work?

14

Are you considering moving or do you have funds to stay where you are?

Do you think you can tap your home equity in this economy?

Have you considered living overseas and/or looking for work overseas?

15

Ah, yes - moving into smaller housing by everyone makes it universally a tighter market. I thought you had your house paid off, that was my misunderstanding. But it’s good you’ve considered it as a last-ditch way to increase funds.

Sounds like you’re doing everything you can and still making wise financial choices in spite of the stress.

16

I’m not on MediaBistro but am on several other freelance boards. Thanks for the tip, I’ll check it out.

Yes, we can tap into our home equity. Right now, even without refinancing, I have $25K in open credit that I can transfer into my checking account.

As for the issue of moving, it’s complicated and everyone’s mileage will vary, of course. Here’s what I considered:

The market for communication professionals is, in general, slow everywhere, and particularly slow for more senior people with lots of experience – there are fewer openings at the top than the bottom, and employers looking to fill slots at the bottom tend to look for employees with very specific skill sets.

After more than 30 years here, I have a network, contacts, etc. Whatever reputation I have in the industry is centered here. Granted, that hasn’t helped me much (one of my college classmates, who’s been out of work about as long as I have, recently changed his profile from “independent communications specialist” to “real estate agent”), but it’s better than nothing.

Best-case scenario, I have maybe 10 good, employable years ahead of me. Even with a firm job offer, I’d have to weigh the benefits of relocating against the financial costs and the disruption in my and my wife’s lives – especially knowing that I could easily be laid off again after a year or two. Relocating was a lot easier decision when I was young, single and could literally pack everything I owned into the back of my car and take off.

But here’s something else I have to consider. When it comes to responses by employers (callbacks and interviews), I had more in my first six months of unemployment than the second six months. More in the second six months than in all of the second year, and more in the second year than in the third year. I’m happy to blame part of that on the economy, but based on the experience of others I know, it’s clear that the longer you’re unemployed, the less employable you are.

17

kunilou, I am so sorry. That really sucks.

18

Kunilou, I’m not sure where you live, but if I have any contacts that could help you I’d be glad to offer them up. I’m an information security guy, but consultancies and such need marketing/sales/etc, and I’ve worked with some good shops. Feel free to PM me.

BTW - I was laid off a few months ago, and it’s just beginning to turn the corner with a gig lined up with a major company. Your age, while detrimental in some market spaces, can be a positive when they’re looking for mature professionals. I’m 31 - and definitely still have “growing up” to do - we need “dirty old bastards” like yourself to tame us “monkey assed idiots.”

19

The irony of you, of all people, making this mistake is hilarious. I hope it gave the OP a bit of a laugh, as it sounds like he could use it.

I understand that it sucks, OP, but you do seem to be handling it well. I really can’t think of anything to ask, except to ask you to keep us apprised of your situation.