Saturday, September 3, 2011

Long term unemployed will likely never be hired again

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The rich, academic elites, and the poor think this is good, a long awaited 2 class system, haves and have-nots, no annoying middle class.

9/2/11, "From Unemployed to Unemployable," NPR, Planet Money

"The unemployment rate didn't budge in August, according to this morning's jobs report. Net job growth was zero.

Also basically unchanged: The number of people who have been out of work and looking for a job for six months or more.

More than 6 million Americans are now among the long-term unemployed, up from about 1 million before the recession. The long-term unemployment rate is far higher than it's been at any time since before War II....


The longer people are unemployed, the less likely they are to find a new job."...

(continuing): "This is partly due to the fact that the most employable people — those whose skills are in highest demand — get snapped up right away.

But there are also more insidious forces at work....Employers may be wary of hiring someone who has been out of work for a long time....

"After a long period of unemployment, affected workers may become effectively unemployable," economists at the Richmond Fed wrote in a paper published this week....

"Never before in the postwar period have the unemployed been unemployed for so long," the Richmond Fed paper says."...

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4/1/2010, "The Obama Coalition," The Atlantic, Thomas Byrne Edsall

"One of the most striking indicators of the potentially enduring unemployment status of many of those now out of work is the increase in the number of people who have been without jobs for six months or more. These people have the hardest time making it back into the workforce, and the growth of this population suggests that more and more people who lose a job face the danger that

  • unemployment will become permanent....

While both the “have” and “have-not” coalitions have been growing,

  • with the middle waning...

(Obama) could effect—

  • as promised—
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Even the NY Times knows it but if anyone is happy about the death of the middle class it's the NY Times.

2/20/10. "The New Poor: Despite Signs of Recovery, Chronic Joblessness Rises," NY Times, Peter S. Goodman

"Call them the new poor: people long accustomed to the comforts of middle-class life who are now relying on public assistance for the first time in their lives — potentially for years to come."...




Above graphs from NY Times Feb. 20, 2010 article, graph on left of "Long term unemployment" is from BLS, 1975-Jan. 2010.

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7/13/11, "WOLF: German Miracle’ Barack Obama doesn’t see," "Blinded by big government, the Obama Depression is no accident," Washington Times, Dr. Milton Wolf

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7/3/11, "Obama’s Economists: ‘Stimulus’ Has Cost $278,000 per Job,'" Weekly Standard, Jeffrey H. Anderson

"The stimulus is now causing the economy to shed jobs....

In other words, the government could simply have cut a $100,000 check to everyone whose employment was allegedly made possible by the “stimulus,” and

  • taxpayers would have come out
  • $427 billion ahead."...
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Obama has taken care of the "millionaires and billionaires:"

7/1/11, "The economic recovery turns 2: Feel better yet?" AP, News.com.au

"The jobs that are being created pay less than the ones that vanished in the recession. Higher-paying jobs in the private sector, the ones that pay roughly $19 to $31 an hour,
Obama has taken care of the richest Americans:
  • AP: "The economy's meager gains are
  • going mostly to the wealthiest.

Workers' wages and benefits make up 57.5 percent of the economy,

an all-time low. "...

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6/7/11, "California’s Green Jihad," Forbes.com, Joel Kotkin

"In reality the creative economy simply cannot make up for losses in more tangible industries....growth. So who really benefits from the green jihad? To date, the primary winners have been crony capitalists...Finally, there are the lawyers — lots of them. A hyper-regulatory state requires legal services just like a theocracy needs mobs of mullahs and bare knuckled religious enforcers. No surprise the number of lawyers in California increased by almost a quarter last decade."...

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8/31/11, "Long-Term Unemployed Losing Hold On Middle Class," Huffington Post, Peter Goodman

As of 7/1/11, only 58.1% of America's working age population is employed, the lowest since 1948. (para. 11)

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12/14/10, "The Hard Truth: Companies Don't Hire Unemployed,"NPR



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