A second effect, Dr. Sum said, is on the sense of confidence, both emotional and economic, among family and friends of unemployed executives.

If anything can assauge the frustrations and fears felt by unemployed executives, it is comfort in numbers.

Some of these newly unemployed executives received attractive severance packages and are willing to invest that money in new businesses.

In the end, it usually comes down to the inventiveness of the unemployed executive.

Unable to admit to his family that he has been fired, the unemployed executive continues to pretend he is going to the office every day.

When a friend introduced him to Mr. Martin, he saw the need for some sort of a group "for all these unemployed executives" and the two decided to form such a group.

Charles Beattie, a retired banking executive, has volunteered one day a week to conduct interviews with unemployed executives.

It said the unemployed executive, identified as Michael Casey, might have "fueled the fire of rumor and innuendo" because of personal grudges.

Some experts say that the faltering economy and the large number of unemployed executives have made New York - or any location - less of an issue.

Some career experts recommend that unemployed executives try to find a stopgap position within their fields.