Should Bad Credit Keep You from Getting Hired

Though many of our businesses have long examined the credit histories of job applicants along with resumes for our job openings, I would submit that in today’s highly-stressed economy that we should NOT use any credit history in making hiring decisions. Currently 1 out of 10 workers are unemployed with most being out of work at least six months or more. Many do not have the means to pay creditors.
Nationwide unemployment is currently is more than 9% and projected to reach double digits before the end of 2009; many qualified workers will lose out on employment opportunities if credit checks play a significant role in the hiring decision process.
While I support exceptions being granted for those positions that involve money or require National Security clearances, since we also know that 33% of all credit reports contain serious errors that could also penalize potential employees, it is all the more reason that we should suspend this practice at least until the National economy stabilizes.
Currently, Congress is taking a look at blocking employer access to most credit report data, though there is no current timeline as to when a bill may be passed. We should take the first step at our businesses to stop this process and give the unemployed worker one less thing to worry about.