And evidence suggests many of them may never rebuild their working lives completely.
Never since the Great Depression has the U.S. labor market seen anything like it. The previous high in long-term unemployment was 26 percent in June 1983, just after the deep downturn of the early '80s. The 44 percent rate this year translates into more than 6.5 million people.
In fact, nearly two-thirds of these workers actually have been jobless for a year or longer, new Labor Department reports show.
"I'm particularly concerned about that statistic, because long spells of unemployment erode skills and lower the longer-term income and employment prospects of these workers," Federal Reserve Chairman Ben Bernanke said in a Wednesday speech.
More Here..
The Jobs Picture Still Looks Bleak
More Here..
Folks, its all by design. The PTB are turning our once great country into a third world country. Just look at what is going on. It should be obvious to anyone living in reality.
ReplyDeleteAnd the sheeple say baaaaaaaa.
Ben is concerned. Well that is very nice.
ReplyDeleteBen cares about the unemployed machinist or plumber. That is what I call heart.
ReplyDeleteNeed to bite the bullet and move out of the country. It's the only way. It's difficult, you will miss friends and family, but necessary to survival. Good luck folks.
ReplyDelete1:03
ReplyDeletePlease tell us what countries would be willing to allow any of us to immigrate? As if they need more mouths to feed.
Helicopter Ben of the Fed probably does not care about anyone losing their job. If he did then he would probably expose the Federal Reserve as one cause of the problem.
ReplyDeleteWith what is coming leaving the country may not help much.
I know several families who moved to Europe working for a contractor recently. Americans worked overseas during the 30's. Since many corporations are international, they'll hire qualified people where they need them. Some jobs are in the middle east.
ReplyDeletebens concerned...give me a break
ReplyDeleteI hate listening to these shortsighted writers ramble on about the unemployed people as if they are the big victims -
ReplyDeleteEVERYONE will soon be out of "work". This is the end of money as we know it; goodbye and good riddance - may no one ever try to form a central economic system after this happens again, nor a large government when it crumbles... I hope it happens within a year. I don't know why people are afraid of it, as if their lives have any quality in this current condition. They might even say they are worried for their children, well, if they think their current lives are getting hard, do they not know their children will have it harder in a way that can't even be quantified?
Fact is everyone: the country (and world) needs to be cleansed desparately. It needs to be flipped upside down so that it can be made rightside up.