May 25, 2009
Posted: 1953 GMT
Tonight on the show we launched JobQuest – in the months ahead we are following several people who are out of work and seeking jobs Through their eyes we will gain an understanding about what its like to be looking for work in the worst recession for a century.
There is Jason in Atlanta and Jenny in Hong Kong. Jenny moved there from Ireland. Both are very quickly finding out how hard it is to get work. We will be following them in the weeks ahead.
Why are we doing this? Because with unemployment in developed economies likely to hit more than ten per cent it is crucial the rest of us understand the strains this puts on the people and on society.
And for those of us lucky enough to keep our jobs find we are grateful to be working longer hours for less money.
In all cases, It creates a fear that corrodes and eats into all of us.
It is true – most of us spend all we earn. We are usually a paycheck or two away from financial trouble. And if we stop earnings it isn’t long before financial trouble comes knocking.
The experts tell us we should have upto six months worth of salary as savings for the "rainy day." Nice if you can – but I know of no-one who has that much spare cash laying around "just in case."
We all have a family member, a friend, a neighbour who has lost a job – sometimes we have all three. Which is why we are taking this so jobless crises so seriously..because they are soon facing financial problems.
What do you think is the right level of financial cushion ? One month ? Two ? Six months – or are you going to tell me: Quest – get real. We live hand to mouth.