when CBS starts off your summer describing the job market in depression era terms and making statistically accurate comparisons of badness its signs of, or time for;
a) another recovery summer tour?
b) comparing people to bumps in the road?
c) another date night?
d) another poets of the 30's night......?
e) play the race card, some way, some how?
June 5, 2011
Chronic unemployment worse than Great Depression
The unemployed have, on average, remained unemployed longer than in the 1930s; Employers wary of job gaps in resumes
There is an unfortunate adage for the unemployed: The longer folks are out of a job, the longer it takes them to find a new one.
CBS News correspondent Ben Tracy reports that the chronically unemployed face the hardest road back to recovery, and that while the jobs picture may be improving statistically on a national level, it is not for them.
About 6.2 million Americans, 45.1 percent of all unemployed workers in this country, have been jobless for more than six months a higher percentage than during the Great Depression.
Chronic unemployment worse than Great Depression - CBS Evening News - CBS News
and he didn't inherit this by the way, so that crap won't fly........get more creative than that , please.
hat tip hot air-
As I noted this weekend, the housing market comparison is accurate but somewhat out of context. This, however, is not just fairly contextual, it also leaves out a further complicating factor, which is that in the intervening year, another 440,000 people have left the workforce altogether. Those people have not been counted in the A-12 chart from which this is taken. When those get added back, the percentage of those out of work 6 months or more will almost certainly rise. (If theyre all at 27 weeks or longer, the percentage jumps to 47.7%, which is higher than last years 46.2%.)
When Barack Obama took office, the US has 5.866 million people who wanted work but who had left the workforce calculations, that number has risen to 6.821 million in May, the highest recorded during Obamas term of office, and the highest since January 1994. Adding back the 955,000 people who have left the workforce but want a job since January 2009 would raise the unemployment rate from the current 9.1% to 9.6%, and it would put the number of unemployed (14,869,000) at its highest level since November of last year.
The news is bad for Obama no matter how one slices it. The worst news is that the media are now making those comparisons explicit.
CBS: Chronic unemployment worse than Great Depression « Hot Air
