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Unemployment

Every Sunday I try to reference 4-5 articles I found particularly insightful or useful. This weeks topic centers on dealing with unemployment. It seems everyone has a little bit of advice for those who are recently unemployed or scared they are going to be:

Bargaineering has a guest writer “Sarah” who is chronicling her journey from recently how she became recently unemployed to the search for a new job in this multi-part series.

J.D. over at Get Rich Slowly has posed to the question to his readers as to whether it is unethical to take a second job when so many people have no jobs at all?

The Weakonimist explores how the flu and layoff’s are similar, in that they are contagious.

MoneyNing provides some great tips on how to survive a layoff.

And FrugalDad asks whether it is better to stockpile cash or pay down debt when preparing for a layoff.

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iheartcoffee

Love your coffee

Why on earth would you ever want to work with your spouse? Don’t get me wrong, I love my wife, but I would not want to work with her.  But more than just the fact that you would have to deal with that person non stop 24/7, you are both subject to the same employment problems.   With the economy in the toilet and the constant reminders about portfolio diversification, why is it that so many people don’t consider employment diversification. I know people who worked together and they were both laid off, I don’t think they learned though because they are working together again. The odds of both a husband and wife losing their jobs at the same time when working for separate companies in separate professions is considerably less likely than two people working in the same company.

What would you do if both you and your spouse work for Circuit City, or Goody’s Family Clothing. Both of these companies have gone belly up and are liquidating this year and you would find yourselves both out of a job, both of you looking for similar jobs in a saturated job market. Another factor, and one I am painfully aware of,  is when you have two incomes you tend to spend more and buy bigger. This tendency makes it that much harder for you to be able to maintain your lifestyle when both incomes are lost, and possibly replaced with only part time incomes.  With 11.6 million currently unemployed it is only getting harder to both find, and maintain a job. Why would you want to take the additional risk of both spouses working in the  same company/industry. Even though jobs are getting more scarce this may not be bad time to diversify your employment or at the least increase your emergency fund to ensure you can afford to pay the bills in the event both spouses are suddenly unemployed.

Photo: (tifotter)

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