In the third quarter 3.4 percent of chief executive officers were unemployed, compared to 2.1 percent in the third quarter of 2003 in the wake of the 2001 recession, USA Today reported Wednesday.
For management in general, the unemployment rate was 5.1 percent in the third quarter, compared to 3.4 percent in the same quarter six years ago.
The figures show managers have fared better than lower-income workers. But those with high salaries have comparably high expenses, the newspaper said.
"I thought I would be easily employable," said Jeff Boose, recalling thinking when he was laid off in the summer of 2008 from his $400,000 a year chief financial officer position.
By January, Boose, borrowing from his parents to pay bills, concluded his job search "isn't going to be as easy as I thought."
"Every hiring manager tells me, 'You're way overqualified,'" said Fred Cecala, a former marketing director from Mount Prospect, Ill.
"You can't win for losing," Cecala said.
Copyright 2009 by United Press International.
Post new comment