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Job-Seekers May Need Patience
Statistics show the average job search is taking a bit longer than four months
As the economy takes a downturn, job concerns are starting to turn up.
The national unemployment rate is at a 3-year high with 5.1% of working-age Americans actively looking for work. Well that's a historically low figure, it's a major worry for many people, leaving some to wonder how long will it take to find work should they lose their job.
According to the Bureau of Labor Statistics, the average job search is taking a bit longer than four months for the average worker looking for work. Outplacement firm, Challenger, Gray & Christmas says their latest job market survey shows the search is a little easier for experienced managers. These white-collar workers were finding work in about 3 months.
One interesting bit about job security---the more education you have, the less chance you'll be unemployed. Workers who have a bachelor’s degree or higher have a national unemployment rate of just 2.1%. 8.2% of people who did not complete high school are now looking for work.
With the ABC News Money Minute, I'm Bessie Stark, in New York.
Challenger, Gray & Christmas, with headquarters located in Chicago, Illinois, is the oldest executive outplacement firm in the US. It has offices in 52 cities in the US and Canada, and has operations in Japan and Mexico. The firm also conducts regular surveys and issues reports on the state of the economy, employment, job-seeking, layoffs and executive compensation. They also conduct one-off surveys on such subjects as workplace bullying, lost productivity due to the Super Bowl, and working women. Their core business, finding jobs for laid-off executives, is unusual in that they will only accept as clients people whose former companies will sponsor the client's job search.
