In part of an ongoing series deciphering financial news, NewsHour economics correspondent Paul Solman talks to laid-off business executives and ex convicts, two groups of people for whom job opportunities are especially slim in today's economic climate.
At the Safer Foundation in Chicago which helps ex-convicts navigate the job search, many find that their criminal records prevent companies from hiring them. They worry that their financial difficulties could lead them back to a life of crime.
Many of the former executives at a networking meeting in Chicago have been out of work on average for almost a year and are still unable to find a job.
"I've tried several times. I mean, I've gone, I've filled out applications thinking that I'm going to get the job, but they won't hire me. As soon as they do the background check, they know that -- just their opinion of me is just totally changed." - Larry Wohlgemuth, ex convict
"I think it's all about being motivated and positive within yourself to know that you want to -- you're going to be that better person, you're going to be successful." - Cephas Wright, ex-convict
"We were all senior executives in our previous positions. And we had authority. We had people who listened to us. And, you know, we had a say in how things were done. And now, all of a sudden, you know, you're not getting that connection, and now it's all -- you know, you feel like you're adding no value to anything that you're doing." - Chris Demaio, laid-off executive
1. What is a recession?
2. What is unemployment? How high is U.S. unemployment right now?
1. Why have so many business executives have been laid-off? Does this surprise you?
2. Why do ex-convicts often have trouble finding jobs? Do you think it is fair that some companies don't want to hire ex-convicts? Why or why not?
3. In what ways are the struggles of the laid-off executives and ex-convicts similar? In what ways are they different? How might high or lower expectations of success affect their job search?
Read the transcript:
In-depth Coverage: Making Sen$e:
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