Laid Off Workers Report How They're Making the Most of a Difficult Time

From CareerBuilder

CHICAGO , June 24, 2009
- Laid off workers today are competing in one of the toughest job
markets in the nation's history and struggling with increased financial
pressures. A new CareerBuilder survey finds that, despite the
hardships many of these workers are facing, they are focusing on
positive aspects of being in between jobs to get them through a
challenging time.

More than 1,800 laid off workers participated in the nationwide survey
completed in June. Twenty-two percent of these workers reported that
they are spending more time with family and friends as they look for
new employment opportunities. Other ways laid off workers said they are making the best of a difficult situation include:

• 15 percent are fixing up their homes


• 14 percent are exercising more


• 11 percent are finally taking time to relax


• 8 percent are volunteering


• 7 percent are going back to school


• 6 percent are becoming more involved in their church community


• 4 percent are starting their own business


• 4 percent are taking up new hobbies


• 3 percent are traveling

"While finding a new job and steady paycheck is definitely top of mind,
laid off workers are also concentrating on activities that will help
them grow personally and professionally," said Rosemary Haefner, Vice
President of Human Resources at CareerBuilder. "They are reconnecting
with friends and family, getting involved in the community, taking
classes and exploring new career path options that may lead to a
greater return in the long run."

To make ends meet today, 23 percent of laid off workers reported they are collecting unemployment
or other financial aid while another 20 percent are cutting back on
spending outside of necessity. Other means they are using to manage
budgets include:

• 16 percent are relying on savings


• 12 percent said their spouse or significant other is supporting the household


• 6 percent sold some of their belongings


• 5 percent are taking odd jobs here and there


• 4 percent are living on credit


• 3 percent moved back home or added a roommate

Survey Methodology

This survey was conducted online by CareerBuilder among more than 1,800
laid off workers in the U.S. who have utilized CareerBuilder. The
survey was conducted from June 10 to June 15, 2009. With a probability
sample of 1,800, one could say with a 95 percent probability that the
overall results have a sampling error of +/- 3.20 percentage points.