The odds you’ll join the ranks of the long-term unemployed

Washington Post ^ | 05/18/2014 | Matt O'Brien

[SeekAndFind]

Long-term unemployment is a terrifying trap that, even in the best of times, is difficult to escape. And it's a trap that you can get stuck in for no reason other than bad luck.

Today, there are still almost 3.5 million people who have been out of work for six months or longer and are looking for work. There isn't a more urgent crisis, and there are three things you should keep in mind about it.

1. As former CEA Chair Alan Krueger found, the long-term unemployed aren't much different from the short-term unemployed. They're a little older and more of them are African-Americans, but they're just about as educated and work in the same industries as everyone else who's trying to find a job.

[Deagle]

Search 401k and 55 and you will find the information. It applied to me, not sure if it applies to you.

[DannyTN]

"In before the ‘DEADBEATS’ crowd."

You made it by 22 seconds.

[meadsjn]

The lesson here is that we need stimulus. Sure, the economy will eventually recover on its own in the long run. But in the long run, our careers, if not ourselves, will be dead. High unemployment begets high long-term unemployment, which forces people into premature retirement. Spending more and printing more money can at least mitigate these vicissitudes of the business cycle—if, as the IMF points out, we're willing to be radical enough.

I should have guessed it was a propaganda piece, coming from the Washington Post.

We had a stimulus, and some bailouts, huge bailouts, and we had Quantitative Easing I, II, III, and whatever.

What we have NOT had is any decrease in the economically destructive communist and NAZI policies of this administration. Unless several thousand of these evil creatures are removed, and many bureaucracies dismantled, no amount of tinkering with the economy will produce positive effects.

[KC_Conspirator]

Long-term unemployment is a terrifying trap that, even in the best of times, is difficult to escape. And it's a trap that you can get stuck in for no reason other than bad luck.

And Obama.

[Political Junkie Too]

Yes, the homeless and unemployed always disappear during Democrat administrations.

The MSM always seem to rediscover them when a Republican is president.

-PJ

[Luke21]

They don’t care a hoot about food or gas costs either. But when Republicans are in power they get blamed for hurricanes.

[Moorings]

The media would have done a dozen documentaries about the plight of the unemployed and the homeless e.t.c, if the president was a republican.

[napscoordinator]

Maybe, but if it is REALLY a problem then the House would pass unemployment for those who are out of work, but they don’t believe it is a problem. Since it is the conservatives who are not interested in the problem as you seem to claim, I think it is overeggagerated. If the House had passed additional unemployment then I would think that it was a bigger problem but the conservatives don’t have a problem with it because it is not that bad.

[waxer1]

I was out of work for 6 months. Only got a job because I knew somebody. It is bad out there.

[Viking2002]

It’s worse than bad. We’ve pretty much tapped out all of our resources over the last two years for various reasons, the safety net has holes too big to catch us, it appears, and now I’m starting to make phone calls to creditors to see how much longer we can keep the wolf from the door. It’s got my guts twisted like a bowl of Ramen noodles.

[waxer1]

It’s a terrible situation.

[Viking2002]

'Terrible' is a word I only use when there's some potentially positive epilogue to such a tragic story. This is a bottomless blackness where no light can escape.

[Deagle]

While I agree with your problems... It is not up to the Government to solve private employment. Sounds crass I know but to do that would place us into another spectrum - maybe Socialism. They have already passed legislation giving benefits for years, what do you really expect? I know it’s hard, been there but you really have to push yourself to succeed. You can NOT expect the Government to help except for temporary relief.

[napscoordinator]

I actually was answering somebody else. I am retired form the Navy so I get a pension. I get a VA check for 60 percent and I am a Federal worker so I am pretty well employed and compensated for my efforts pretty well.