Laid-off workers finding jobs fast

Strong job market means less time searching

Getting laid off isn't as bad as it used to be as employees were able to find new jobs faster in the first half of this year, according to a new report.

Employees at all levels have rebounded faster than they have in the last two years because of the strong economy and lower unemployment rates, according to the report by Toronto-based consulting firm Right Management.

The survey of 3,745 laid-off employees in Canada and the United States, found more than three-quarters of lower- to mid-level managers found new jobs within three months, while more than half of senior-level executives landed a new job within four months.

For top executives, such as vice-presidents and CEOs, 65 per cent of those laid off found jobs within six months and 90 per cent found new jobs within a year.

In 2005, 45 per cent found jobs within six months and 72 per cent within a year.

However, hiring managers might have more time to make up their minds before these candidates get scooped up. The recent slowdown in job creation may make job-search times longer for the rest of the year, said Bram Lowsky, Right Management's general manager for Canada.

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