Chronic Unemployment Now Worse Than During the Great Depression!

[Better Believe It]

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
By Ben Tracy
CBS News
June 5, 2011

(CBS News) 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.

Here's another problem: more than 1 million of the long-term unemployed have run out of unemployment benefits, leaving them without the money to get new training, buy new clothes, or even get to job interviews.

Read the full article at:

http://www.cbsnews.com/stories/2011/06/05/eveningnews/main20069136.shtml

[emilyg]

1. How sad for us.

[customerserviceguy]

2. Perhaps someone here knows this

When did they first start calling the Great Depression that name? Was it after we were out of it, or when we were still in it?

[riderinthestorm]

3. Great question.... 1934 as far as I can tell even though economists recognized econmic troubles for

a decade or more before it got it's name. Google comes up with this great article... Seems like even during the worst of it, nobody dared label the economic tsunami. Hoover came up with "great depression" in order to avoid other time-tested phrases like "financial panic". But as far as it's official denouement:

http://hnn.us/articles/61931.html

"Some historians argue that the true inventor of the phrase, the Great Depression, is Lionel Robbins, a British economist who lived during the Depression. In 1934, after Hoover’s tenure in office, Robbins wrote the book, The Great Depression, which contains what some historians, notably David F. Burg, consider to be the fist usage of the phrase we now use to to describe the economic meltdown on the 1930s."

[Better Believe It]

4. Thanks for your research.

[Avant Guardian]

5. Rest assured

It will get worse. The republicans are hellbent on proving that their ideology is the magical cure-all. When the ideology makes things worse, they believe it is because not enough ideology was applied. They are driving off the proverbial cliff, we are stuck on the bus with them and apparently nobody is willing to do anything to stop it.

[customerserviceguy]

6. Agreed

They've saved up their arrows for the election, they intend on using them.

Thanks to those above who did the research to figure out when the term was coined. I've heard the term "Great Recession" applied to the current situation, but I imagine that once it worsens, a new name will be needed.

[defendandprotect]

8. Where are Democrats making clear the needs -- of the homeless, the jobless....

those who are being bankrupted by medical costs -- ?

How are our Democrats sleeping at night when they well understand the

need for universal health care?

How long are we going to plead with millionaires and multi-millionaires to

please fix our economy -- or to re-regulate corporations?

[defendandprotect]

7. This is a depression -- and it's unrealistic to continue to deny it -- !!

Who are we benefiting when we deny what has actually been done to this nation

via wars bankrupting our Treasury -- and a financial coup which taxpayers picked

up the bill for?

Where's the stimulus? Obama was told what he was asking for was only 20% of what

was required -- and he settled for LESS!!

WTF?

The Democratic Party has been eaten up by Koch Bros/DLC which was harbored within

the party for the last 20 years!

Think we need a plan B, folks!!


Let's draft Bernie Sanders for President -- he's a better democrat than most Democrats!!

Sanders can run on a Dem ticket --

We need two strong anti-war candidates -- how about Tom Hayden for VP -- ?

There are tons of democrats around who can run on the Dem ticket --

democrats who aren't millionaires or multi-millionaires -- and who aren't pre-bribed

or pre-owned by corporations!!

[Vanje]

10. True /\ nt

[Vanje]

9. Ruined lives. nt

[Maven]

11. But more importantly, what can our government do for Lloyd Blankfein today?

(:sarcasm: obvious, hopefully)

[girl gone mad]

12. k & r

[indepat]

13. Amazing how this RW-created seeming depression is being exacerbated by

RW solutions whereas the RW-created great depression was assuaged by liberal/progressive programs: don't look for things to get better as long as only RW-solutions are on the table. :patriot:

[defendandprotect]

14. "Bipartisianship is another way of saying one party rule" ....

Our problems are as much with Democrats as they are with Republicans --

We are expecting the 44% of millionaires and multi-millionaires in Congress to

pass legislation which benefits the entire population -- :eyes:

How dumb are we?