NORTON META TAG

03 December 2011

Jobs Report: Long-Term Unemployed Tell Congress They're Hurting & Jobs Mirage: 315,000 Drop Out Of Workforce, Driving Unemployment Rate To Three-Year Low 2DEZ11

ANYONE who has ever been unemployed knows the government stats are never correct, actually never honest (no matter who is president). That is probably why Pres Obama wasn't out thumping his chest about the drastic "drop" in the unemployment rate. I was thoroughly disgusted by john boehner's right wing rant about the unemployment numbers, he is one of those who claims extending the bush tax cuts for the wealthy is what will create jobs, yet can't show us any improvement in the economy and employment from the two years the tax cuts were extended. Where are the jobs speaker boehner???  I was unemployed in Pennsylvania for about a year in the 80's during reagan's economic miracle and I remember the feelings of hopelessness and depression and the fear, and when my inability to find a job went on and on also my feelings of worthlessness and that something was wrong with me. My family and friends and faith got me through that rough time in my life, but in times like these I have ghost from the past haunting me even though I have a good job. There is a little voice in my head that keeps me afraid, makes me wonder what will happen if all of the sudden I no longer have a job....just what will happen, especially since I am 53 years old. I thank God every day I have my job and pray that I stay employed. Congress should not be playing these political games with people's lives. Unemployment benefits must be extended for those unable to find work. Please take the time to e mail your Representative https://writerep.house.gov/writerep/welcome.shtml 
and your Senators http://www.senate.gov/general/contact_information/senators_cfm.cfm 
and tell them to extend unemployment benefits for those desperately seeking jobs, we can not turn our backs on these people, our family, friends and neighbors, our fellow Americans......
WASHINGTON -- It's been two long years since Wayne Person lost his sales job, and the 59-year-old from Mount Laurel, N.J., still hasn't managed to find new work. After a seemingly endless string of rejections, he's come to blame his long bout with unemployment on two primary factors: His age and unemployment itself.
"It became almost impossible for me to get a job interview, let a lone a job," Person says. Of the interviews he has had, "They concluded I was unqualified because I was not tech savvy, which is ridiculous, or because I was looking to retire soon, which is equally ridiculous." He has a suspicion that many employers won't consider him simply because he's already out of work -- a hunch not without merit.
Person, who's draining his 401(k) in an effort to stay afloat, is one of many out-of-work Americans who are urging Congress to pass reauthorization for unemployment insurance benefits -- a safety net that Person himself exhausted long ago, and that nearly two million unemployed stand to lose come January if the benefits aren't extended, according to the worker advocacy group National Employment Law Project.
To highlight the plight of the jobless, an alliance of 23 progressive groups called USAction released a report Friday telling the stories of nearly 90 people who are out of work, including Person. On a call with reporters, members of the group argued that the numbers released Friday from the Bureau of Labor Statistics underscore the need for congressional action on jobs and unemployment insurance.

The jobless rate actually dropped last month -- from 9.0 percent to 8.6, marking the lowest rate since March 2009 -- but that good bit of news was due partly to a shrinking labor pool, as many discouraged Americans stop looking for work.
"I think there is a tendency to focus on what the unemployment rate is, as opposed to the devil in the details," said Christine Owens, executive director of National Employment Law Project, who was on the call. "Although it's certainly good news that the unemployment rate declined, a chunk of that decline is because several hundred thousand people dropped out of the labor force. We still have almost six million people who've been unemployed six months or longer."
Debating whether or not to reauthorize unemployment benefits is fast becoming a holiday-season ritual in Washington, with lawmakers now facing the same question they did last December. Democrats have stumped loudly for the extension, holding a press conference Wednesday with hundreds of unemployed workers to pressure their colleagues on the other side of the aisle. Republicans in both chambers, meanwhile, have shown quiet signs of support for the reauthorization.
"There's no reason not to renew this program," Owens said. "It would be a huge body blow to the economy. These benefits do not prolong unemployment; they keep the unemployed engaged in the job search. Maintaining this program has that effect."
William McNary, director of USAction, said the group assembled their report, entitled "Hardly Working: Stories from Un- and Under-Employed Americans," in order to show some of the people behind the jobless numbers.
One of those people is Molly Wassermann, who recently moved to New York City from Toledo, Ohio, in search of better job prospects. She's been without work since 2008.
"What exactly is a person supposed to do who isn't being hired?" Wassermann asked on the call. "Are we supposed to just die? ... The attitude toward us is everything but Christian. They say we're lazy. ... The right is demonizing us."
"The vast majority of us just want to work," she said.

Jobs Mirage: 315,000 Drop Out Of Workforce, Driving Unemployment Rate To Three-Year Low 

http://www.huffingtonpost.com/2011/12/02/jobs-report-december-november-2011_n_1125180.html
Despite a stark drop in the national unemployment rate reported Friday, economists warned it will take decades for the labor market to return to pre-recession employment levels if the economy's achingly slow growth continues.
The U.S. economy added 120,000 jobs in November -- falling short of economists' expectations -- while the unemployment rate dipped from 9.0 to 8.6 percent, the Bureau of Labor Statistics reported Friday morning. But roughly half of the decline in the unemployment rate came from the 315,000 Americans who dropped out of the labor market last month, in part a reflection of the slow pace of the recovery, economists said.
"When unemployment is this high for this long, it's very likely that most of the people dropping out are doing so because they can't find work," said Heidi Shierholz, an economist at the Economic Policy Institute, who has studied the shrinking labor force during the years since the recession began. "There is some movement here, that's true. But it's just so slow."
While November's job gains roughly kept pace with population growth, a more positive glimmer can be found in the upwards revisions of the past two months of employment growth. Job growth for September was revised up to 210,000 from 158,00, and October's gains were up to 100,000 from 80,000.
120,000 may not be 250,000 -- the lowest number most economists look to for a really healthy recovery -- but it's also better than zero, the initial headline number of new positions created in August, when fears of a double-dip recession really began to take hold. In October, the number of new positions created in August was revised upwards to 103,000.
"We've got a modest acceleration and more employment growth then we saw over the summer," said Nigel Gault, Chief US Economist at IHS Global Insight, a firm offering economic and financial analysis, forecasting and market intelligence.
Domestically, Gault said, things haven't turned out as bad as people feared. But the global picture emanating from Greece and China looks darker. "At the moment, the U.S. is doing better than most of the rest of the world. But let's say Europe drops into recession. How far and how long could we outperform them?"
Job gains came in retail, hospitality, health care and business services, with modest gains in temporary work -- which can sometimes be an indicator of future job growth. Manufacturing employment -- once heralded as the shining star of the recovery -- has remained essentially flat since July. Meanwhile, state and local government continued to shed jobs.
The job gains are not coming in primarily high-wage industries, and annual average wage growth is not keeping pace with inflation. Worker in the retail sector -- which had the biggest gains last month -- pull in median hourly wages of $10.94 an hour, according to the Labor Department, and that sector's growth is one factor that explains the 2 cents dip in average hourly earnings last month. Another key factor is that the weak labor market provides employees little leverage to bargain with their employers over pay, economists said.
Two million Americans have been out of work for 99 weeks or more -- up from 1.5 million last November -- according to the Bureau of Labor Statistics. The percentage of workers who are working part time but still seeking full-time work is also up from a year ago, according to a recent Gallup poll.
And the U.S. economy still needs to regain more than 6 million jobs lost during the recession -- plus some 4.6 million jobs to account for population growth -- to reach pre-recession employment.
It's stark numbers like these that have led economists to dub the years since the Great Recession officially ended "the jobless recovery."
"After previous recessions, hiring soared. What has come roaring back this time is profits. They've reached a peak," said Gary Burtless, an economist at the Brookings Institute.
While many Occupy Wall Street protest camps have been cleared around the country, the income inequality that brought thousands of Americans to the streets since mid-September remains as strong as ever, according to this latest government snapshot. And even if job growth began to rebound in coming months, that income inequality, which has been growing for decades now, would still remain.
"Even if we could magically return to where things were in 2007 and the issues of the housing market disappeared, we would still have the three decades of cumulative growing inequality problems," said Lawrence Katz, Professor of Economics at Harvard University.
Arthur Delaney contributed reporting
CORRECTION: An earlier version of this report incorrectly reported that net job growth was flat in August, according to the Bureau of Labor Statistics. The BLS initally reported zero job growth in August, but revised that number upward in October to 103,000 jobs.
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Unemployment rate October 2011: 10.2 percent
Number of unemployed October 2011: 483,600


 

 

 

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