Quote from jprad:
It's so easy to be a critic...
The fact of the matter is that there are few employers who are going to hire someone who is long-term unemployed and at a discount to their previous salary.
The adage that it's easier to find a job when you have one is exactly why these employers won't hire them, they are a flight risk. Losing an employee is always disruptive and expensive, so why hire someone who's guaranteed to walk at the first opportunity to get a bump in salary?
Second, a lot of the comments here are quite obviously from people who don't have first or second hand experience with what it's like to be a formally well-compensated employee who's been applying for every opening out there yet hasn't been able to even land an interview.
It's tough out there for the 40+ crowd. I know a few, and it sucks to see what they're going through.
That's all true. But it doesn't mean the high-end labor market is coming back anytime soon. If at all.
Does that mean we should pay these guys 80% of their highwater mark, into perpetuity, because we can't expect them to trade down, and actually work for a living?
That's life. We all have to work. God knows, I've worked a few embarrassing jobs.
The labor market has to readjust to new economies.