The real state of jobs in the economy. Very good article. Lots of substantiation.
"America has long been a country where almost everyone, including the poor and unskilled, could get a job. Given the will to do a reasonable day's work, a job was a passport to economic and social well-being...More than 15 million Americans no longer have that passport to Life. Think of it as roughly the entire population of the states of Connecticut, Delaware, Arkansas, Iowa, and Oklahoma, all standing idle—every man, woman, and child...
For the 80 percent of Americans born after World War II, this is their Depression. They have 5.5 million fewer jobs than at the recession's start in 2008, despite the most stimulative fiscal and monetary policy in our history. Employment has been below the pre-recession peak for over 50 months. It's the longest time since the Great Depression that payrolls have not made a new high."
Why job openings have been in low wage sector.
Why so many part time jobs and temporary employment.
Why two thirds of the employment growth rate has been in the 55 and older age cohort and how it creates a bottleneck for younger workers.
Why hiring through June 2011 was 10 times slower following the passage of President Obama's healthcare bill compared to the prior 16 months.
Why through the first few months of 2012, layoff announcements have risen 18 percent from a year ago, and hiring plans have dropped 82 percent.
Why real personal disposable income per capita is lower now than it was in November 2006.
Why the 8.2 percent unemployment rate that only counts people who have applied for a job in the last 4 weeks doesn't reflect the staggering percent that have been without work for 6 months or longer.
Mort Zuckerman: President Obama's Economic Programs Have Failed - US News and World Report
The article offers solutions which you may or may not agree with. Since I anticipate figuratively "killing the messenger" posts:
The author of the article is Mort Zuckerman "a long-time supporter of the Democratic party who cast his vote for Barack Obama in the 2008 presidential election."
Mortimer Zuckerman - Wikipedia, the free encyclopedia
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