Job seekers appear built for endurance
Taking into account savings, severance benefits, and financial adjustments they say they've made, most job hunters can afford a job search lasting close to half a year, according to a poll of 725 "outplaced workers" by career-services firm Lee Hecht Harrison (LHH), in Woodcliff Lake, N.J.Skip to next paragraph
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Some 56 percent of respondents believed severance alone would cover them for the duration of their search, according to Bernadette Kenny, LHH executive vice president. Those polled reported a median severance of 15 to 16 weeks.
The group also appeared well prepared. Forty-five percent had at least five months of take-home pay in the bank at the time they were laid off.