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Thread: Long Term Unemployment at Highest Level Since WWII

  1. #1
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    Default Long Term Unemployment at Highest Level Since WWII


    Long Term Unemployment at Highest Level Since WWII


    by KEITH KOFFLER on JANUARY 15, 2013, 10:18 AM
    Long term unemployment under President Obama is at the highest level since at least the end of World War II, threatening to create a permanent underclass of workers who will find it difficult or impossible to obtain jobs in the future. What’s more, Obama’s insistence on repeatedly extending long term unemployment benefits may be fueling the unemployment problem.

    According to data recently released by the St. Louis Federal Reserve, the average duration of unemployment is now at about 40 weeks, double the previous highest level of about 20 weeks that prevailed during the last three recessions.



    A separate paper released by the Boston Federal Reserve paints a pernicious picture of the problem: Employers seem to be throwing out the resumes of the long-term unemployed and only hiring those who have been without a job for less than six months. Meanwhile, with the guarantee of benefits rolling in, the long term jobless might not be looking aggressively enough for work, the paper states.

    This suggests those who just had their unemployment benefits renewed for another year under this month’s fiscal cliff deal may need the benefits renewed again next year. And since the failure to get jobs is related solely to the length of unemployment – age, education and worker type do not seem to be a factor – Obama’s ambitious plans for funding worker training programs may have little effect.

    Since 2008, Congress has voted to extend unemployment benefits ten times at a cost of more than $500 billion. The latest extension raised federal spending by $30 billion.

    http://www.whitehousedossier.com/201...st-level-wwii/

    If you are wondering why Obama is so focused on the mass shooting in CT, this is why. He wants to shift blame from his horrific economy. His second term will be ugly, and he will want to keep the American at each other's throats over non-economic issues.

  2. Default

    Voters knew going in how bad the economy was, yet they voted for the incumbent anyway.
    As long as Obama talked about extending unemployment benefits, government healthcare, and free contraception all was well.
    First they came for the Socialists, and I did not speak out--
    Because I was not a Socialist.

    Then they came for the Trade Unionists, and I did not speak out--
    Because I was not a Trade Unionist.

    Then they came for the Jews, and I did not speak out--
    Because I was not a Jew.

    Then they came for the liberals, and I did not speak out--
    Because I was rolling on the floor laughing my ass off.

  3. Likes DonGlock26 liked this post
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    republicans want to destroy the government, take gov money out of the economy, yeah, that will boost the economy... not
    ~
    belief is what is important, not so much what you believe, for instance, an ordinary sugar pill without belief helps no one, but with belief it can cure your ills and it can be quite the amazing little pill - the magic really comes from within - FreshAir
    ~

  5. #4
    usa
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    Quote Originally Posted by FreshAir View Post
    republicans want to destroy the government, take gov money out of the economy, yeah, that will boost the economy... not
    Dieting doesn't equal suicide.

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    Quote Originally Posted by FreshAir View Post
    republicans want to destroy the government, take gov money out of the economy, yeah, that will boost the economy... not
    There is no such thing as Government money.... Cutting spending isnt "destroying the Government",,, How the hell you equate the two is beyond me.

  8. Likes Bondo liked this post
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    Quote Originally Posted by Zxereus View Post
    Voters knew going in how bad the economy was, yet they voted for the incumbent anyway.
    As long as Obama talked about extending unemployment benefits, government healthcare, and free contraception all was well.
    I agree. They knew full well and wanted more of it. They endorsed the practice of no budgets, over a trillion per year in deficit spending. They want more unemployment, food stamps, inflation. The country has taken a hard left turn by sitting the biggest leftist our country has ever know back in the chair.
    We are not the product of our environment, we are the result of ourselves.

  10. #7

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    Quote Originally Posted by FreshAir View Post
    republicans want to destroy the government, take gov money out of the economy, yeah, that will boost the economy... not


    Corporations enjoyed their highest profits since 1900 under President Obama ~ why don't the right wing media celebrate this TRUTH?

    November 2012 elections: A victory for America!

  11. #8

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    You know what is funny ? unemployment is driving demand down , when demand falls then business do ( there is another thread about this happening now in China) and when business fail the state has to bail them out with your tax money .
    Giving public sector jobs to the unemployed means that you will support them with your taxes , now say that Joe who just got a government job likes to eat a hamburger in your restaurant , he will buy it for $5 and at 20% taxation you will have to give back $1 to support Joe's wage .
    Where do the bail out money go ?

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  13. #10

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    I want to point out in the article there are two factors at work besides a sluggish economy:

    1. Employers tossing out any application or resume with those who didn't work within six months which is not illegal and the right of the employers to you Conservative folks.

    2. People getting benefits long term discouraging getting any kind of job they can get that is basically an issue with the other side the Liberals who decentivized getting a job, or at least working at what you can do yourself for money.

    Both are issues here the economy will come back in time.
    From each according to his ability, to each according to his need - Louis Jean Joseph Charles Blanc (French Communist)

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