Unemployment: The New Norm
Even as the economy recovers, the days of 5% unemployment may be gone for good.
A chorus of economists and labor market observers say that the “natural” or “structural” rate of unemployment has shifted up, meaning that Americans looking for work should get used to having a harder time finding it. The unemployment rate is currently 9% and could take until 2016 to reach the natural rate.
(Excerpt)
http://finance.yahoo.com/career-work/article/112786/unemployment-new-norm-fins
Lowering the bar is Standard Operating Procedure when trying to justify failed policy.
-——Unemployment: The New Norm-——
Not necessarily because there is a very large but unstated factor in the real total. The factor id illegal workers. If the administration would do it’s job, it would hold a massive crackdown and purge. The illegals would be either carried away or forced to flee.
The resultant jobs freed up will drastically lower the unemployment rate.
Unemployment: The New Norm
Unexpected is the New Norm.
Yes, and the “experts” used to say the UR would never dip below six percent because of structural problems or whatever. It went under five percent during the Bush years nationwide, and in Wisconsin, where I live, various areas went under four percent. The UR is as high as it is because of the idiot in the White House...nothing else.
We're just being more European (read: socialist).
Structurally high unemployment is what all socialist countries get.
However, the economy is showing no sign of recovery.