According to Mish Shedlock, an economist for whom I have great respect, we are certainly in a depression. However, 40 million people on food stamps as of August 2010, masks that depression. The cost of the food stamp program is on schedule to exceed $60 billion in fiscal 2010. For comparison purposes, there was just over 11 million on food stamps in 2005.
And it touches every aspect of our society, including the thoughts and feelings of the workforce. Joblessness and underemployment that we see in the workforce impacts all dimensions of the our family and acquaintences.
Even if we are still working, we see our others around us suffering and see the toll it is taking on them - physical, social, psychological and spiritual. It is a "real world" crisis in our community that screams for attention.
Our friends and and neighbors who find themselves unemployed (fully or partially) are at once confronted with issues that they had not expected that often turn good people “inside-out. Our thoughts at work are laced with "what if I am next?"
You wonder how you would survive, or what you would do.
Please note there are 14.6 million unemployed, but of them 4.5 million are receiving regular unemployment benefits and another 4.7 million are receiving extended benefits. Thus 63% of those unemployed are receiving benefits. Being paid while not working also masks the depression.
In addition, there is massive underemployment with 8.5 million working "part time for economic reasons" and another 2.6 million "marginally attached" workers who want a job but are not considered unemployed because they have not looked for 4 weeks. This is "containment" of sorts, as the official numbers mask the depth of the unemployment problem.
Finally, countless millions have not paid their mortgage for months or even a year without being foreclosed on. Free from mortgage expenses but having a place to live certainly makes life a lot easier.
Could it happen to you? Maybe.
Thus, the importance of going beyond just doing the best you can at work - brushing up past relationships, putting your financial house in order, starting to actively network.
Because as the numbers tell us. It could happen.
