The sudden loss of a job has become, if not commonplace over the last years, at least not very surprising.
And yet, many Americans remain unprepared for not having an income. A new survey from Country Financial finds that one-third of Americans would immediately fall behind on their bills if they lost a job and were left with no income.
That’s virtually the same result that Country Financial got the last time they asked the same question, in July of 2009.
The good news: About one-quarter of Americans are well-prepared for a job loss. The January survey found that 24 percent of respondents could weather five months without an income. That’s also virtually the same percentage as in July of 2009.
Country Financial conducts the survey of 3,000 people bi-monthly.
Although the economy is consistently adding more jobs than it is shedding, some workers continue to be let go. For example, Kraft Foods said this week that it would cut 1,600 jobs as it prepares to split its business in two.
If you do lose a job, the market remains tough. The median time it takes to find a new job is 21 weeks, or about five months, according to the Bureau of Labor Statistics.
There are currently about 13 million unemployed Americans who are looking for work, and the unemployment rate is at 8.5 percent.