Friday, August 12, 2011

Chart of the Week: High unemployment is due to the long-term unemployed

Credit: JaredBernsteinBlog, BLS data
An interesting graph from Jared Bernstein, prominent economist, former Obama Administration official (and not such a great speller [see y-axis]). What is distressing, of course, is the red lump of previously unemployed workers; if they're not hired quickly (which most of them are not), the likelihood of them finding positions after six months of unemployment is not high. Bernstein suggests a tax credit for hiring the unemployed and also an extension in unemployment insurance; if it happens, hope it helps.

Best wishes to all of us.

1 comment:

  1. Well, that's hardly a news - they've been saying this for a while now - if you are out of workforce, and can't find a new job within a few months - you are done. Economy shed 5% of workers and it won't be needing them again, 9% is now a base rate, and will be so until they raise Social Security age to 67, at which point it will probably go another few percent up.


looks like Blogger doesn't work with anonymous comments from Chrome browsers at the moment - works in Microsoft Edge, or from Chrome with a Blogger account - sorry! CJ 3/21/20