HBO - Hard Times on Long Island

[jillboston]

Did anyone else see this HBO documentary last night? I can totally relate to the desperation and humiliation that some of the people felt in being laid off from a profession they had been in for many years. I was laid off in June 2008 (I was a very senior commercial real estate associate at a mid-sized law firm). I was able to change careers and took a significant pay cut - a choice that my DH totally supported. We have no kids though and aggressively save and pay down our mortgage (rather than refinancing and taking out equity which I believe some of the people in the documentary probably had to have done given their ages). In theory DH and I could have survived (without touching savings) on just his salary. I realize most people don't (and can't live that way though).
Also, there were at least two or three of the couples profiled where both spouses lost their white collar jobs. Terrifying.
Any thoughts?

[jillboston]

In "My Hometown" Springsteen wrote "foreman says these jobs are goin' boys, and they ain't comin' back, to your hometown". Who knew it would apply to everyone 25 years hence.?

[SusanBAnthony]

We don't live anywhere near NYC, but I can certainly relate. In the 7 years we have been married, we have lost about 100K of equity in our house (currently on the market and not selling). Plus, DH has been laid off 4 times, all directly due to the economy. Despite our fairly high HHI (approaching 100K) and frugal habits, we just can't keep up with the constant unemployment, and 100K loss (my income for about 5 years went almost completely to paying down our mortgage- that money all went poof!).

It totally sucks, and I am obviously bitter, lol. The only good thing is that DH (engineer) has been able to find new jobs with equal or better pay each time, and now he is working in a non-construction industry so we are hoping it will be more stable. The blow to his pride and his self confidence in his work is not something he has recovered yet, though.

[jillboston]

Jul 10, 2012 9:02:33 GMT -5 littlespitfire said:

I haven't seen the documentary, but can I be nosey and ask what your new career is? I'm a mid-level /senior attorney without high hopes for my future in the profession...

I am a housing counselor at a non-profit. I am helping people facing foreclosure, counsel seniors on reverse mortgages and work with first -time homebuyers (classes, review docs etc)

I love it - very, very emotionally draining but very rewarding. What's your area of practice?

[jillboston]

"The blow to his pride and his self confidence in his work is not something he has recovered yet, though. "

SusanBAnthony- I am just now starting to understand the toll the layoff took on my psyche and body. I gained about 40 pounds and was depressed and angry. Oh- and bitter even though I really, really did not like the work I was doing as an attorney.

[quickstepstar]

I didn't see it, can someone please summarize what it was about? I loved in LI during Grad School and we are still in the NYC metro area.

[SusanBAnthony]

Jul 10, 2012 9:11:54 GMT -5 jillboston said:

"The blow to his pride and his self confidence in his work is not something he has recovered yet, though. "

SusanBAnthony- I am just now starting to understand the toll the layoff took on my psyche and body. I gained about 40 pounds and was depressed and angry. Oh- and bitter even though I really, really did not like the work I was doing as an attorney.

Yah, it totally, totally, sucks. we moved xcountry for a new job for him, he likes it, he seems to be doing well (based on feed back from his boss) but he just can't shake the feeling that he is about to be laid off again. Which sucks for him, and also for me, bc we moved xcountry to a small town where I am a SAHM and probably couldn't get a job in my field if I tried. We are not feeling much financial stability these days (even though we have money in the bank) it is hard to shake the feeling that we are one month away from another financial crisis of some sort.

[jillboston]

Jul 10, 2012 9:14:46 GMT -5 quickstepstar said:

I didn't see it, can someone please summarize what it was about? I loved in LI during Grad School and we are still in the NYC metro area.

The documentary followed several families that lived on Long Island for 6 months in 2010 where one or both of the spouses lost their white collar jobs. Most had been unemployed for a year or more. They followed their job search, their support meetups at coffee shops and showed the effects on each family (stress, sickness, marital problems, foreclosure, bankruptcy).