« | »

3.25 Million Workers ‘Hopelessly Unemployed’

From CNN’s Money.com:

Forget discouraged, 3 million workers hopelessly unemployed

By Annalyn Kurtz | January 4, 2013

NEW YORK (CNNMoney) — Employers may be hiring, but there’s another big problem with the job market that isn’t being tracked as closely: the hopelessly unemployed.

And where are employers hiring? (By the way, the number of hopelessly unemployed is actually 3.25 million. Why is CNN lowballing it in their headline?)

An often overlooked number calculated by the Labor Department shows millions of Americans want a job but haven’t searched for one in at least a year. They’ve simply given up hope.

But now there story can finally be told. Obama has been safely re-elected, and the midterms are two years off.

They’re not counted as part of the labor force, the official unemployment rate, or the category the Labor Department refers to as "discouraged workers" — those who haven’t bothered to look for work in the last four weeks.

These hopelessly unemployed workers have just been jobless so long, they’ve fallen off the main government measures altogether…

The Labor Department started tracking this group in 1994, but it doesn’t get much attention. Recently, it has started growing more rapidly than usual, even as other job measures have shown improvement.

Five years ago, before the recession began, about 2.5 million people said they wanted a job but hadn’t searched for one in at least a year. Now, that number is around 3.25 million…

Which is an increase of 750,000 people and a 77% increase. And they have been completely forgotten by our news media.

One explanation for the growing number of hopelessly unemployed workers could be age. The fastest growing demographic in the category is workers over age 55, who typically have a harder time finding new jobs. That could include older workers who would prefer to remain on the job but were pushed into early retirement because of the recession.

They are still unemployed, no matter how old they are.

Another part of the problem may be explained by parents who take time off to raise a family, but then postpone their plans to re-enter the job market because of the weak economy.

That wouldn’t account for such a large spike in the numbers.

Others could be students who want jobs, but gave up on the search and decided to go back to school instead, hoping for better job opportunities down the road.

Sure. That must be it.

But notice how CNN blames everything except Obama. In fact, his name is not even mentioned. Just imagine how this news would have been reported under President Bush.

Ignoring the hopeless might make it seem like the long-term unemployment problem in the United States is slowly improving…

Almost entirely because of people leaving the workforce.

But the growing number of hopelessly unemployed is worrisome. Studies widely show the longer a person is unemployed, the weaker his or her chances are of getting a job.

At some point, long-term unemployment can lead workers to become permanently detached from the labor force. That’s not good for the economy…

But they often become permanently attached to the government, one way or the other. Which is good for the Democrat Party.

This article was posted by Steve on Monday, January 7th, 2013. Comments are currently closed.

3 Responses to “3.25 Million Workers ‘Hopelessly Unemployed’”

  1. GetBackJack says:

    Meet the Low Information Voter

  2. untrainable says:

    So now we have the employed, the underemployed, the unemployed, the discouraged unemployed, the long term unemployed, and now the hopelessly unemployed. What’s next?

« Front Page | To Top
« | »