Accord Advisory Group

Just released: a new study called , “The Anguish of Unemployment” from the John J. Heldrich Center for Workforce Development at Rutgers University confirms what we’ve been saying all along: Midlife professionals represent about one-third of the unemployed workforce

•    32% of the currently unemployed workforce is over 45 years old, evenly divided between men and women
•    27% of the first time unemployed previously earned more than $75,000/year
•    25% of the first time unemployed had completed college and beyond.

And the psychological symptoms: between 50%-75% of the 1000 people sampled suffered from
•    stress
•    depression
•    anxiety
•    helplessness
•    anger
•    and hopelessness.

Over 50% had
•    reduced spending
•    put off major plans
•    begun to spend down retirement and savings funds
•    and borrowed from family and friends.

But hope springs eternal:

• 65% of the sample hoped for a new start
• 40% claimed that they felt motivated and hopeful!

These hopeful characteristics are the foundation of change. The Accord Working Knowledge Initiative will begin a new community-wide program, beginning in November, sponsored by New York’s Congregation B’nai Jeshurun.

More to follow: stay tuned to this blog.

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