Showing posts from March, 2012

Irony? Projection? Discuss.

Image source: The Politics Blog, Esquire.comIsn't it fascinating that the signs on display make the exact same points that those of us who are fighting against the GOP's War on Women are trying to make?

Bernake: The Challenge of Long-term Unemployment

From Federal Reserve Chairman Ben Bernake's remarks at the National Association for Business Economics Annual Conference, Washington, D.C.A full copy of the Chairman's remarks is available on the Federal Reserve websiteDiscussions of the labor market at this juncture necessarily have a "glass half-empty or half-full" tone. Recent improvements are encouraging, but, as I have noted, in an absolute sense, the job market is still far from normal by many measures, and millions of families continue to suffer the day-to-day hardships associated with not being able to find suitable employment. Although most spells of unemployment are disruptive or costly, the persistently high rate of long-term unemployment we have seen over the past three years or so is especially concerning. In this episode, both the median and average durations of unemployment have reached levels far outside the range of experience since World War II (figure 11). And the share of unemployment that represe…

Long-term unemployment: the original 99ers

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Charts of the Day: Employment Situation Revisions, U3-U4-U6

The two newest additions to the Stat Pack - the Employment Situation Report, with first and second revisions; and the BLS U3, U4 and U6 numbers.

Bushwacked (Bewildered, Beat-up Bad and Broke)

Image - Concern rises at US long-term jobless

From an article in today's Financial Times (registration required)"Concern is rising that the long periods some US workers have been out of a job is eroding their skills, confidence and consumption in ways that do serious harm to their prospects and to the broader recovery. So far, the pick-up in the labor market has not been mirrored by strong growth in incomes and consumption."'One concern we do have, of course, is the fact that more than 40 per cent of the unemployed have been unemployed for six months or more,' Ben Bernanke, US Federal Reserve chairman, told Congress last week. 'Those folks are either leaving the labor force or having their skills eroded, and although we haven't seen much sign of it yet, if that situation persists for much longer then that will reduce the human capital that is part of our growth process going forward.'"Here's the latest chart: (source: FRED)

F**KED: The United States of Unemployment / Demanding Jobs for All