Hi kcw984,
I think you have a challenging road ahead for the schools that you listed. There are a few weaknesses that you will need to address to be competitive. First, your work experience is lacking. Not only do you have a chunk of time without a job after undergrad, but, you were also laid-off so your work history won't show the time or progression that an adcom would like to see. The best way to mitigate this is with phenomenal recommendations, but, this could also be more difficult because you haven't worked with the same superiors for a long time, etc.
Where did you go for undergrad? You said "top 20" but didn't list one. The GPA should be fine. I wouldn't worry about your econ GPA very much, but, when combined with a sub-80% GMAT, it could be helpful to take a few courses (stats, corp fin) to show that you have the raw brain power to handle rigorous quantitative courses.
I agree that you need to have strong ECs or something interesting in your profile to make you stand out. It sounds like you are working on this and I would continue (look for ongoing experiences, not one-day volunteer opportunities). Try to show progression in anything you do (eventually having a leadership role). Also, much of this is a matter of how your frame it - I'm sure you've done SOMETHING with your time in the last 7 years. What do you do in your free time? Are you an avid skiier or world traveller? Do you mentor anyone or are you a great chef? There might be an interest that you could expand upon.
And, remember, you have slightly less experience than the average applicant but you are still young - perhaps consider waiting one more year before going back to school. This would improve your candidacy (more experience, more ECs, better recommendations, perhaps a few quant grades, etc.).
As for re-taking the GMAT, you could, but, unless you feel like you really blanked on the quant section, it is unlikely that the score will change significantly enough to make retaking it worthwhile. I'd focus on other elements.
And, as a Booth graduate, out of all the schools on your list, I think it might be your best shot - if you want to go into finance and get very thorough quant/i-banking preparation, it would be a good call!
Hope that helps!
