Unemployed: Likely, You'll Run Out of Money (and help isn't on the way)

Losing a job is very different now. America is no stranger to extreme economic downturns, mergers and acquisitions, the introduction of new technologies and reductions of corporate layers. Who among us hasn't lost a good job because of those developments. 

One major shift, though, is this: Instead of the angst about maintaining your lifestyle during the search and with what you find, it's the probability of running out money. Almost 70% of the jobless drain their savings, with 44% missing regular payments such as rent. BusinessInsider features those who are heading toward that brutal reality. 

Essentially they're chasing after comparable jobs and not finding them. That's a key error of judgment, pushing them into being without income. Severance and unemployment end. Retirement funds get drained. 

They can no longer assume they can pursue a linear path in earning a living. They're operating against the current headwinds of a low hiring rate, whole sectors such as content-creation being downsized by AI, and a glut of talented experienced applicants. There is also the extended timeframe of the search. For about one-fourth that has extended to more than 27 weeks. In addition, there are ageism and the typical out-of-touch response to it. Pro Publica documents that if you're over-50 you'll probably lose your job and if you are fortunate enough to be hired back into your field 90% of you will be offered less money. Not smart: You don't accept the lowball offer.

Sure, be optimistic at the beginning of job search. Form strategies to return to a good job which uses your experience and skills. From the get-go, however, ensure that there is money coming in. From any source. That could be gigs, part-time work, a micro business you start or even a full-time job in a non-related field. You can always quit the latter.

Soon enough, there could be the Ah-Ha moment that you're not getting back into your line of work. Try out other options. That necessity is nothing new and it's always been soul-wrenching. After the academic market in the early1970s collapsed for humanities professors, we newly minted PhDs had to wander in the wilderness to experiment where we could make a good living. After three years I finally used a side door into corporate communications. 

Meanwhile, help isn't on the way. Government hasn't developed policies, especially partnerships with business, to ensure financial survival for the chronic unemployed. It should have. Way back in 2021, the hit movie "Nomadland" depicted the fallout when a plant closes and when the aging who can't find work have to resort to a peanuts Social Security monthly check. 

Earning a Good Living in 2026 Involves Mental Combat. The enemy is usually your own thinking.

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