Funemployed

When Elizabeth Webster graduated from the University of California at Davis in 2007, she had confidence and a degree from a highly accredited university on her side. The financial and job markets had yet to collapse and for the most part, things seemed to be looking up. In July of 2007 she accepted a position with Mervyns, a discount retail department store based out of Hayward, CA. She began work that August in the marketing department and figured that she was on her way to making it as a career girl.

“It felt good. I felt like I was taking all the right steps,” said Elizabeth. “Go to college, get a job, move to the city, it all just seemed like a very natural progression.”

With her first big job, came her first big pay check, health benefits and her own apartment in San Francisco. Then, 13 months after Elizabeth was hired, on July 29, 2008, Mervyns succumbed to the harsh retail environment and filed Chapter 11 bankruptcy. Then on October, Elizabeth became one of 2.8 million American’s to loose their jobs during 2008.

In what felt like a devastating blow, Elizabeth filed for unemployment benefits as soon as possible. Immediately, her monthly income was cut in half. She had been making roughly $45,000 per year working at Mervyns, which equaled about $1,200, every two weeks. Now, she was receiving $600 every two weeks from the federal government.

“I was terrified,” said Elizabeth. “I had just signed a lease on an apartment that I could no longer afford and I was uninsured. And worst of all, there were no jobs.”

But Elizabeth was not alone. Within three months, all four of her roommates had been laid off from their jobs, and went on unemployment as well. They began using the phrase, “fun-employment,” and patiently began to wait out what would eventually become a global financial crisis that some economist say could end up being the worst financial crisis since the great depression.

Four years later, Elizabeth is now working full time at an accounting firm, and things are back on track. She looks back on her time as an unemployed twenty-something with fond memories. “It was a learning experience,” she says, “I think it helped my friends and I appreciate the opportunities we have been given since then.”