The media, politicians and economists are trying to convince everyone that recession has ended many months ago. Well, good for recession, but from what I observe, a lot of folks are out of work. There have to be a reason why unemployment benefits are extended up to 72 weeks in most states.
Let's face it, the "employment gaps" are far longer now than they have been in many years. It is especially true for CFO's and Controllers whose small and mid-size employers went out of business or contracted to the level of not being able to afford senior management. Even though I never believed the old recruitment fable that every $10K of your desired compensation translates into one month of job hunting, the basic rules of statistics prove that it takes longer to find a high level position simply because there are less of them. Now the available openings are further reduced by the economic contraction. There are government aid packages designed specifically to stimulate hiring by small businesses, but it will take long time before we will see significant impact.
Knowing all that, nevertheless, does not prevent recruiters and HR managers from asking you point blank, "Why you have been out of work for such a long time?" They know why. They ask because they want to see how you handle the question. Your ability to present yourself in the best light during an interview and explain the employment gap on your resume in the most appealing way is a very sensitive issue.
That is why I highly recommend that everyone, even those who are not actively looking at the moment, read The Ladders' article Why Have You Been out of Work So Long?
I don't always agree with their material, but what I like about The Ladders' advice pieces is that they give us the point of view of the hiring professionals, the very people on the other side of the table. Those on the job market need to cater to their expectations and their mind-set. This particular article has the most straight-forward advice on the employment gap issue I have ever seen.
I have to say, however, that almost until the end they got me worried because it seemed that the article practically recommended to make up a story to fill the gap: say whatever, except that you were just looking for a job. Only in the last paragraph the actual activities are implied.
And I would like to elaborate on that. Please, don't make up stories - you never know where that may lead you. Nobody looks for a job for 12 hours every day. So, use your spare time to occupy yourself with one of those recommended activities, and then you can tell people about them. Even if you buy a SOX manual and study it on your own, you can say that you have significantly expanded your internal control compliance horizons.