44.1% of long term employees cannot find new jobs or have left the labor market
Employees who work for a single organization for three or more years have a more difficult time finding a new job when they are terminated
The U.S. Bureau of Labor Statistics (BLS) reported from January 2009 through December 2011, 6.1 million workers were displaced from jobs they had held for at least 3 years. The data shows that 26.7 of those individuals remain unemployed and another 17.4% have left the labor pool all together. That adds up tp 44.1 % of these long term employees continuing to be out of work and does not include any factor for those who are underemployed. IT job opportunities for long term unemployed remain poor.
This was less than the 6.9 million for the survey period covering January 2007 to December 2009. In January 2012, 56 percent of workers displaced from 2009-11 were reemployed.
Janco talked with a dozen IT Professionals who had been employed in IT for over 3 years with the companies and had been terminated. One of the common refrains was, after being out of the IT job market for several months many of these professionals felt that their skills has decayed and that that employers did not view them in a positive light because of the lenght of time they had been out of work. Some of these individuals were able to find “part-time” and “contractor” however they found the job market remains tight for them. Others have left the IT Market all together and had started alternate careers.
Long Term Employees Employment