The world of the laid-off techie. "Human resource experts say the underemployment trend in the current economic cycle is just starting to emerge. Many workers got the ax when mass layoffs peaked in the summer and fall of 2001, and they coasted on several months of severance and unemployment insurance, which generally lasts six months. With the tech job market still in the doldrums, they're now considering new gigs as waitresses, bartenders, forklift drivers or baby sitters--anything to pay the rent. " I wish the media hadn't/didn't focus so much attention on the suits who seem to only be able to "fail upwards" versus the folks in the trenches. (via /.)
posted by owillis on Feb 11, 2002 - 64 comments

Is The Economy Broken? It was one thing when it was the tech/Internet sector - the bubble burst, but now the wave continues with the 2002 recovery seeming like wishful thinking. If it's not layoffs, companies are cutting their 401k plans. Argentina's crisis seems like it will have ripple effects as well. Then you have numbers saying people are confident, so are we getting tanked by jittery Wall Street-ers? Oh, there's also a war on.
posted by owillis on Dec 31, 2001 - 13 comments