Remember the dot.com phenomenon? The sharp increase of technology based businesses ruled the market from 1995 to 2001. Many of the dot.com companies operated on the get “rich quick theme”. Thousands of Internet based companies grew rapidly – strong in theory and hiring, but shaky at the foundation. Thousands of people were put out of work when the dot.com industry crashed around 2001. It was out of these massive layoffs, that pink slip parties were born.

A pink slip party was usually held in a local bar, where the unemployed gathered to console each other on their lack of jobs. They shared their unemployment stories over drinks with others who were in the same situation. A recent visit to the website Wordspy.com defined a pink slip party as “a party where each attendee is a person who has recently lost their job, particularly because of a failed or down-sided dot-com company.”

The definition and scope of the pink slip party has changed in the face of the current recession. It's focus is no longer targeted to employees of dot.com companies. Pink slip parties are now being held nationwide in major cities to bring a message of hope, camaraderie and purpose. The party offers food and alcohol, often at discounted prices, as an enticement to boost attendance.

A recent pink slip party held in NYC invited not only the unemployed and job seekers, but recruiters as well. The job seekers arrived to the event dressed in business and casual attire. They were given bright pink armbands to identify them as job seekers. Dark green armbands were given to the recruiters.

Due to the increasing popularity of pink slip parties, some are now requiring registration for the event. According to MSNBC – a recent party was so crowded that there was a line of people waiting to get into the building. Not all parties are open to the public, some are held for a specific group of individuals like the ones that are being held on Wall Street for the Wall Street crowd.

Not everyone is on board with pink slip parties. There are some that believe that alcohol and talking to recruiters is not necessarily a good mix. There are others that believe that it’s a way for the bars to make money off of those that can’t afford it. Keep in mind that not all of these parties are necessarily an event planned by the actual company PinkSlipParty.com.

PinkSlipParty.com has dedicated themselves to helping the unemployed. They define themselves as “dedicated to helping displaced professionals find and secure the job of their dreams”. PinkSlipParty.com provides assistance with resumes and gives tips on interviewing. They also provide information regarding upcoming pink slip parties, local job fairs and networking events. PinkSlipParty.com also has an account on LinkedIn.com where other unemployed professionals share their information.

How long this recession lasts will be anyone's guess. Time has shown that as long as unemployment exists, pink slip parties will continue to thrive.