#053 – Out of Work and Losing Hope: The Misery of the American Unemployed




Financial Survival Radio Podcast with Jay Carter show

Summary: As America's unemployment problem only gets worse, researchers are revealing some disturbing responses and habits among those who can't find work. Bottom line:  The out-of-work are losing hope. If you are unemployed, do you see yourself in this week's interview? Professor Carl Van Horn, director of the John J. Heldrich Center for Workforce Development at Rutgers University, shares some interesting and disturbing trends among the jobless, based on his study of 1,200 jobless participants. The new study, Out of Work and Losing Hope: The Misery and Bleak Expectations of American Workers by Dr. Cliff Zukin, Dr. Carl Van Horn, and Charley Stone, was released just last week. Two-thirds of respondents reported being depressed. More than half said they have borrowed money from friends or relatives. One quarter said they have skipped mortgage or rent payments. Van Horn is afraid the situation will only get worse in the years ahead. As Van Horn told CBS News recently, "This is not your ordinary dip in the business cycle." More Information Read more about the study, Out of Work and Losing Hope: The Misery and Bleak Expectations of American Workers.  Here's the full report, press release and verbatim comments from survey participants CBS News coverage of the study:  Jobless Traumatized by Tough Economy Click here to subscribe to our show via ITunes Click here to subscribe via RSS (Non ITunes feed) Like our show?  We would appreciate it if you would honestly rate us with ITunes. Here's how the Rutgers study was covered on last Friday's CBS Evening News: