$ign Of The Times: "Pink Slip Parties"

(CBS)  A new trend on Wall Street and elsewhere has people who are out of work gathering at "pink slip parties."

They're for the recently laid off, and not-so-recently, reports Early Show financial contributor Vera Gibbons.

Job hunters show up and, in some such get togethers, put on brightly-colored bracelets. At a party Gibbons went to, pink was for job seekers, green for career coaches and recruiters.

Attendees mingle to get career advice, network, and commiserate.

With any luck, people walk out with a couple new contacts and career tips.

Gibbons suggests workers who lose their jobs move on and not dwell on their old positon or situation. Don't bad-mouth your employer: Stay positive! That period is over, Gibbons points out, and there are new chapters ahead.

Layoffs force you to think about what is it you really want to be doing.

Once you've figured that out, get out there and network-- 65 percent of people get jobs through personal contacts, recruiters say.

If you're worried about losing your job, Gibbons advises hoping for the best but preparing for the worst. Accoding to outplacement firm Challenger, Gray & Christmas, the average job search is lasting five months now, and even longer in some sectors. You should set up an emergency fund containing money to cover at least six months of expenses. Put that money in a basic money market account. That way, you're not dipping into your 401k or maxing out credit cards if you suddenly find ourself out of work. Start looking around now so, if you do get the ax, you're not starting from scratch. It's also a good time -- while you're employed -- to invest in yourself: Update your resume and skills.

Those who work in a manufacturing or service business tied directly to consumer spending are most vulnerable to layoff, Gibbons says, including workers in the auto industry, construction, retail, financial services, travel, and restaurants.

No one is immune to the downturn, she adds, but you can breathe a little easier if you work in education, healthcare, or businesses that focus on defense or homeland security.

You're also less likely to get the ax if you're either making your co money or saving it money.

[jsd330]

hitoyou If you read this article it has nothing to do with the auto industry. The workers were from wall street. I''ve seen your posts on other articles and your comments have nothing to do with the articles at all. Evidently if you can read, (which is questionable)you must not remember what you just read or do you only read the posts?

[wiswolf2]

The two fundamental bases of wealth are LAND and LABOR. Until both of these values are balanced, there will be no recovery. Allowing the manufacturing base (LAND) to stabilize and allowing wages (LABOR) to follow suit, the greed-based bubble will burst, the economy will regain it''s "feet" and the world-wide economy will begin once again. The current state of the economy is merely an adjustment. Let us all be calm and continue improving our skills, if unemployed...or continue working, if employed, and prepare for a more stable future. The time of finger-pointing and blame is done...now, let''s get on with the task of re-building.

[bm6005]

Yep, and this folks is the mentality of the average American that has gotten us into this crisis in our country. It''''s not WHO you are, it''''s how MUCH $ you make.

Posted by yeswedid


I made it the old fashioned way, by working hard and saving, not buying Lexi to impress my idiot neighbors!. No reason why anyone else shouldn''t be able to do the same, except the dice are really loaded against that now.

[yeswedid]

BTW I''''m now a millionaire, are you?

posted by bm6005 at 06:43 PM : Dec 22, 2008
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Yep, and this folks is the mentality of the average American that has gotten us into this crisis in our country. It''s not WHO you are, it''s how MUCH $ you make.

[bm6005]

Don''''t you feel sorry for some people. Just look at how they act, and talk. Don''''t you have to be over 18 to be on this post? Some act like they are 5.

Posted by hitoyou11

And you are one of them!!! You''re comments about the auto industry show that you''ve never walked past an auto plant let alone worked in one.

[bm6005]

hitoyou11

I''m retired fool. I''m older, smarter and tougher than you. I was raised in an auto making town where my dad worked for gm and I worked for ford. Again, you know nothing about the subject and your posts are proof of that. BTW I''m now a millionaire, are you?

[whitemale08]

Hey Wall Street, how does it feel to be downsized?

That''s right, you thought going to college to learn how to ''structure-finance'' worthless krap derivative-swaps was going to be a lasting career.

HAHAAHAA LMAO!!!

Time to go drive a bus or flip burgers! LMAO!!!

[ludvig1-2009]

Back when I was in college, they had a National lottery to affix your position in a military draft, so my fraternity had a draft lottery where everyone threw some money in a kitty and the first person''s birthday drawn out of the national lottery hat would win the money. I remember Sept. 14 was the first date drawn and the guy whose birthdate that matched used the kitty to buy some draft and have a party for the "Under 25 catch your lunch bunch up the hill." Of course he had really bad eyesight, plus he got a degree in Petroleum Engineering, so was completely safe from actually getting drafted.

[yeswedid]

"You''re also less likely to get the ax if you''re either making your co money or saving it money"

Yes, because the outstanding job that you do has no bearing on anything anymore. The bottom line is $, $, $. GREED GREED GREEED.

[hitoyou11]

Don''t you feel sorry for some people. Just look at how they act, and talk. Don''t you have to be over 18 to be on this post? Some act like they are 5.