Laid-off Older Workers Have Bleak Outlook

People who are 55 years or older and are unemployed spend an average of 54.1 weeks in unemployment.  One of these workers, Tom Magnone of Liberty Township, Ohio said he has filed applications for 920 different jobs.  Sometimes workers have to rely on temporary work when possible to make ends meet.  Compared to younger workers, older ones more often spent half of a year in unemployment even before the economic downturn.  Therefore, age discrimination has been a problem.  This helps widen income inequality as jobless older workers cannot make ends meet and younger workers often get paid less than older employed workers.  Meanwhile, CEOs and the upper tenth of the Top 1% continue to take home record paychecks.
http://www.huffingtonpost.com/2012/03/09/jobs-report-unemployment-older-workers_n_1333699.html

Reagan Raised Taxes and Spending More Than Obama

Under President Obama, government jobs have disappeared, particularly at the state and local levels.  The unemployment rate would probably be lower than 7% if government jobs now kept pace with the number of government jobs as a share of the entire economy from the Ronald Reagan Presidency.   There would be 1.3 million more government workers in teaching, responding to emergencies, and keeping our streets safe, among other things.  Increasing government spending that raises the National Debt during an economic crisis, often referred to as Keynesian economics, is what historically brings about a full recovery that eventually balances the Federal Budget to pay down the National Debt.  Republicans have referred to Obama as someone who harbors socialist ideas, such as huge government spending, raising taxes, and stifling businesses with regulations.  Ironically, Reagan is much more Keynesian than current Republican political idol, Ronald Reagan, whom conservatives adore for his small government and lower taxes rhetoric.  State and local governments, under Reagan, invested in education and infrastructure to support a growing population.  Also, Reagan boosted military spending to deal with foreign security threats.
http://www.nytimes.com/2012/03/05/opinion/krugman-states-of-depression.html?_r=1

Long-Term Unemployment Boosting Jobless Rate (For 2/19/12)

Those who have been unemployed for a long time have actually boosted the unemployment rate due to the stigma associated with it and skill erosion. The lack of jobs has produced a huge number of long-term unemployed. Employers have engaged in discrimination against unemployed job candidates. The Obama Administration and Congrssional Democrats have sought to outlaw this practice. Congress adds to the poor image of the unemployed by including proposals allowing drug testing of the unemployed by those states that want to do this. http://www.huffingtonpost.com/2012/02/17/unemployment-long-term-unemployment-cbo_n_1284202.html?ref=business

Shrinking U.S. Labor Force (For 2/8/12)

Last month, the unemployment rate fell to 8.3%, its lowest rate in three years. But, Federal Reserve Chairman Ben Bernanke believes that it masks the lack of jobs. The number of people of working age who quit looking for work has risen as they cannot find jobs. Others have been forced into part-time work. Of Americans 16 or older, 88 million of them had no job and were not searching for one. Only 63.7% of these Americans were in the labor force last month. This is the lowest rate since May 1983. Some Fed officials have hope for growth. Average wages grew 1.9% last month from the same time last year. http://www.bloomberg.com/news/2012-02-08/jobless-decline-masks-drop-in-u-s-labor-force-as-fewer-seek-work-economy.html

Unemployment, Anti-Depressant Use Related (for 12/27/11)

Americans have turned more often to anti-depressants and high-blood pressure medication as the unemployment rate has risen over the last five years. Drug company ads are another cause of higher prescription use. The high amount of foreclosed homes and lack of jobs have caused a spike in compulsive behavior. Problems realted to gambling, drinking, depression, and anxiety have soared as the economy soured. The long, slow recovery is another contributing factor. http://www.huffingtonpost.com/2011/12/27/stress-medication-unemployment_n_1171125.html?ref=business

Blue-Collar Workers: Now Temporary in Permanent Poverty (for 12/20/11)

Today's blue-collar workers get temporary work and face permanent poverty. They get paid low wages from firms that staff temporary workers for big-box retailers. High unemployment means little job security for these workers as replacements are immediately available to start in place of unproductive workers. They also do not receive medical benefits for doing hard, tiring, back-breaking work. In one example, Asian and European student workers walked out in mass on a Hershey's plant to protest working conditions, including lifting heavy items and deportation threats. http://www.huffingtonpost.com/2011/12/20/new-blue-collar-temp-warehouses_n_1158490.html

Financial Sector Now Greater Share of Economy Than Prior to Economic Crisis (for 12/19/11)

Compared to 2006, the financial sector now has an 8.4% share of U.S. GDP and is a bigger part of the economy as a whole. Big Banks's bad risky investments led to the 2008 TARP taxpayer bailout, high unemployment, and plunging real estate values. Their lobbying on Capitol Hill has also stirred public outrage. http://www.huffingtonpost.com/2011/12/15/financial-sector-economy_n_1151058.html?ref=financial-reform

President Obama: Economic Recovery Could Take Years (for 12/11/11)

President Obama says in 60 Minutes interview that it will take years before the economy is stable again. He is not sure if the unemployment rate can be cut to 8% by next November's election.
http://www.huffingtonpost.com/2011/12/10/obama-60-minutes-interview-economic-fix_n_1140521.html?ref=unemployment

Women's Unemployment Not Improving (for 12/2/11)

What started out as a recession that slammed men at first is now hurting women more. Men are the ones experiencing the bulk of the gains created by the slow economic recovery, as unemployment for men was at 8.3% in November. At the start of the recovery in June 2009, it was 9.9% for men. For women, it has been stagnant since then. Part of the problem maybe due to Congressional failure to pass bills funding Federal Government jobs.

http://www.huffingtonpost.com/2011/12/02/many-baby-boom-women-going-bust-in-recovery_n_1126244.html?ref=unemployment