MaggieMae
Reality bits
- Apr 3, 2009
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Some shocking details reported by Newsweek on the current state of white male professionals who found themselves unemployed as a result of the economic meltdown. The report was picked up by all major news outlets, so you can read their comments online as well.
Can Manhood Survive the Recession? - Newsweek
So what's going on in the corporate boardrooms? Corporate America's profits rose 29% in 2010, the fastest growth in more than 50 years but the improved results have yet to trickle down to most employees, even the highly educated, well-paid, upper-level professionals.
I guess this report also puts to rest the allegation that the chronically unemployed are simply the slackers who have gotten used to being couch potatoes living off unemployment compensation.
Can Manhood Survive the Recession? - Newsweek
Capitalism has always been cruel to its castoffs, but those blessed with a college degree and blue-chip résumé have traditionally escaped the worst of it. In recessions past, theyve kept their jobs or found new ones as easily as they might hail a cab or board the 5:15 to White Plains. But not this time.
The suits are doing worse than they have at any time since the Great Depression, says Heidi Shierholz, a labor economist at the Economic Policy Institute. And while economists dont have fine-grain data on the number of these men who are joblessmany, being men, would rather not admit to itby all indications this hitherto privileged demo isnt just on its knees, its flat on its face. Maybe permanently. Once college-educated workers hit 45, notes a post on the professional-finance blog Calculated Risk, if they lose their job, they are toast.
So what's going on in the corporate boardrooms? Corporate America's profits rose 29% in 2010, the fastest growth in more than 50 years but the improved results have yet to trickle down to most employees, even the highly educated, well-paid, upper-level professionals.
I guess this report also puts to rest the allegation that the chronically unemployed are simply the slackers who have gotten used to being couch potatoes living off unemployment compensation.