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NEWS AND VIEWS THAT IMPACT LIMITED CONSTITUTIONAL GOVERNMENT

"There is danger from all men. The only maxim of a free government ought to be to trust no man living with
power to endanger the public liberty." - - - - John Adams

Sunday, March 23, 2014

Only 11% of the long-term unemployed find work again a year later



Welcome to Obama Socialism


In a sobering new study, three Princeton economists found that only 11% of the long-term unemployed in any given month found full-time work a year later.
 
The paper, presented Thursday at a Brookings Panel on Economic Activity, offered a comprehensive look at the profile of the long-term unemployed. The lead economist behind the study is Alan B. Krueger, the former chairman of Comrade Obama’s Council of Economic Advisors.

the proportion of people who have been unemployed for more than six months still exceeds the previous peak set in the early 1980s, the economists said. That's why the overall unemployment rate is still well above average.


According to the U.S. Bureau of Labor Statistics, the number of people unemployed 27 weeks or longer rose by 203,000 in February, reaching 3.8 million.

The paper found that those who have been out of work for months come from all industries, but are primarily concentrated in sales, service and blue-collar jobs. The share of the long-term unemployed from sales and service jobs was 36%, and from blue-collar jobs 28%.

New in the paper was a more detailed breakdown of who exactly makes up this group. The economists found that in 2012:

  • More than 30% of those out of work for extended periods are 50 or older, compared with 20% of the short-term unemployed.
  • 55% of the long-term unemployed are men.
  • 44% of the long-term unemployed have never been married and nearly 20% are either widowed, separated or divorced.
  • Blacks represent 22% of the long-term unemployed, a rate higher than their share of the population.
  • More than half of the long-term unemployed are white.

Read more at Los Angeles Times

 
 

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