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I'm a machine designer, and while I've never been unemployed for very long, I've frequently been underemployed. Finding a place willing to pay you for your expertise seems rare. I've recently started looking for a new job, and while admittedly I haven't put a ton of time into it, I'm not seeing much out there.
I got laid off from my last job at the beginning of the year, and took a $15k/yr paycut at a new job to avoid unemployment. I can now barely afford the mobile home I bought during my last job. Engineers shouldn't be struggling to live as well as ditch diggers did 20 years ago.
I've been doing contract work. It's hit and miss with that.