BTW, I have a friend in Plano who got a job last week as a programmer. He had been out of work for 11 months, and is having to start over financially from scratch. He is in his 50s.
Don't think of it as having to start over from scratch, think of it as an opportunity to start over from scratch. Oh, by the way, I checked, all the positions at Home Depot have been filled.
And it is not looking better anytime soon.
My condolences to your freind. Starting over from scratch financially in your 50's is a horrible prospect. I have a buddy out of work for 13 months now who is in the same boat, except he's in his late forties. He's basically screwed, engineering-wise - no one will hire a person of his age.
Which is why my wife and I are hunkering down big-time. We are blessed enough to have a job. We are saving every single thin dime to put together 9-12 months of income in a separate savings account (this does NOT include any retirement funds whatsoever). Bottom line for us - no cable, no cell phone, no magazine subscriptions, no unneeded clothes, and dining out maybe 2 times a month. Looking at how long people are out of work now, it is foolish not to save up.