DEFINITION of 'Pink Slip Party'

A party that brings together professionals and recruiters who have recently been laid off. Pink slip parties are usually held during tough economic times, when unemployment is rising and businesses are closing. Often, these casual gatherings will raise money for charity, and provide job search advice to the attendees.

BREAKING DOWN 'Pink Slip Party'

Pink slip parties are a way for job seekers to network with each other as well as with recruiters. As such, each person is often labeled with a name tag or color-coded bracelet.

Pink slip parties increase in frequency during economic slowdowns such as after the internet bubble or the credit crisis. They can provide a sense of solidarity for the newly unemployed, but they sometimes also provide practical advice on finding a new job or building a resume to help the recently unemployed as they try to get back into the workforce.

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