Tag Archives: Unemployment

A Lost Generation

The U.S. has 2 million less jobs now than we had at the end of 1999. Think about that: 10 years, nothing but job losses. And now we see that trend really ramping up. Right now it is a safe bet that there are 26 million people in the U.S. who are either unemployed or involuntarily working part time: 2.2 million who would like to work but haven’t been able to land a job and aren’t receiving benefits, 9.2 million involuntary part-timers and 15.1 million formally unemployed.

The real devastation is occurring to our young people. “The number of young Americans without a job has exploded to 53.4 percent — a post-World War II high, according to the Labor Dept. — meaning millions of Americans are staring at the likelihood that their lifetime earning potential will be diminished and, combined with the predicted slow economic recovery, their transition into productive members of society could be put on hold for an extended period of time.” (New York Post)

Folks, it doesn’t matter what the stock market does: these numbers mean real human pain, and there isn’t anything on the horizon that will make it better. Since we are such a good-news culture, most people are not hearing these numbers, or if they do, they are tuning them out. How can we stand by and let more than half of our young people go jobless? This gap, these missing productive years, will really take a toll on our country down the road.

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23 million more people, 200,000 less jobs

The private sector of the U.S. economy has 203,000 FEWER jobs today than we had in 2000, despite having more than 23 MILLION MORE people.   A whole decade lost.

MSNBC reported at the end of last week that it might be 2014 before the job market “recovers.” (This assumes however that we will get back to what we had….yet if it was so great, then we wouldn’t be in this mess.  “Recovery” is a con.) Continue reading

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Shocking Bluegrass Unemployment

Some striking unemployment figures for the Bluegrass Region:  Since 1990, the highest monthly unemployment figure was 5.5% – in June of this year the figure was 9.1%.

Over the 18 years from 1990 until 2008, the longest stretch with above 5% unemployment was three months.  Since May of 2008, we have had 15 months of unemployment above 5%, and its been over 7% for at least six months. Continue reading

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