Skip to comments.The odds you’ll join the ranks of the long-term unemployed
Posted on 05/18/2014 6:48:38 PM PDT by 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.
(Excerpt) Read more at washingtonpost.com ...
The really striking thing about having a black, very liberal prez is that stories of hunger, homelessness, etc. are suddenly much less popular.
The caterwauling will re-start a single microsecond after a real conservative (or even a liberal one) is elected Prez.
In before the ‘DEADBEATS’ crowd.
I don’t see the problem. they just continue voting democratic, and the benefits continue ad infinitum.
First sentence has obvious victim-mentality, pawn-in-the-game-of life, Uncle Sugar, Free Crap Army, "I am owed a job" overtones.
Stopped reading right there.
This seems to be a combination of things all coming together to cause this.
Cheaper overseas labor costs
High Corporate taxes
Poor Education (no it is NOT money)
Poor Work Ethics (Bad Education here)
We are either going to have to overcome this or be just another third world country. Yes, Government is responsible for 90% of this but the folks keep voting for it without understanding why.
I’m white, over 50, and have been unemployed for six of the last twelve months. And I’d like to thank that black, very liberal prez and his minions for nurturing that situation.
Why is this a surprise?
USA has higher corporate tax rate than all other industrialized countries with perhaps 1 exception.
And to make matters worse, the EPA is a huge anchor
especially on small & new businesses.
No wonder US corporations keep expanding abroad and
shrink operations in US.
I went slightly further, but then stopped as well:
the long-term unemployed aren't much different from the short-term unemployed...
Hogwash. Those that make the best effort to utilize whatever education is presented to them, and go the extra 100 miles to absorb it and then some, learn by their mistakes, and are go-getters, thinkers, and movers... have no problem with landing a job. Whereas, short-term employed includes many of those in that frame of mind, and those will find something within short order. Those missing those qualities will not. If they are employed, they will at some point find themselves unemployed at some point and then have difficulties.
Gosh, how pithy! I sure don’t feel I’m owed a job, but funny thing is no matter how qualified, or not, I come out being too old, too White, not qualified enough or over qualified. But I guess I’ll just start that business with no savings, no income no home, but what the hell I just a friggin deadbeast that feels the I am owed something and was just leeching off the government I payed friggin taxes into for over forty years!
“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.”
Really? I thought we were all past this “racial divide”. The South lost the war. Blacks won “equal rights” in the 60’s. “Protected classes” all over the place. Handouts. Bailouts. Section 8 housing. Free abortion. Free healthcare. Free Obama phones. Preferential treatment for small businesses. Free EBT cards. Etc.
How many damned training wheels do these under-producing “victims” need? Maybe these folks will do better in countries more aligned ethnically and ethically with their own culture.
Here I Thank God, I'm going to retire. There is nothing left to strive for. I'm going to surrender. 2008 beat me like a tied puppy.
> Im white, over 50, and have been unemployed for six of the last twelve months. And Id like to thank that black, very liberal prez and his minions for nurturing that situation.
Trust me you’re not alone. Obamacare is killing small (and some large) businesses on a daily basis. I now know more unemployed people than employed people for the first time in my life. Jarrett and her buddy, 0, are trying hard to make times hard on the usually more productive of society, particularly the less pigmented...
I’m not sure it’s just Obama’s problem.
He’s not helping, but neither did Bush.
Neither party is doing one spit, about American jobs.
Nope. The traditional Left/Right paradigm doesn’t exist anymore. I’ve come to look at the denizens of both parties with a jaundiced eye these days.
Everything you hear about unemployment and stagnant wages can be summed up in one simple fact:
There is an enormous difference between what people expect to get paid for a job, and what they're willing to pay someone else to do the same job.
Regulation, taxation, immigration.
All are problems that have existed a lot longer than Obama has been in office.
Bravo! It is not that easy! The jobs out there won’t hire those they believe will leave if a better opportunity arrives. Not everyone on UI is a deadbeat.
“And it’s a trap that you can get stuck in for no reason other than bad luck.”
Um, no. There ARE a huge percentage of Americans that ARE Deadbeats; no denying that! Why ELSE would we be in this pickle? They vote their own interests for free stuff!
Have marketable skills, no matter how ‘menial’ you may perceive them to be. Always, ALWAYS have multiple streams of income (I have three), and roll up your feckin’ sleeves and Git ‘er done! :)
Actually, that happened to me also at the age of 55. It does seem that then the companies thought that although experience was a good thing, youth and growing into the job was more important. Actually, I can understand that to some extent but they did take it overboard a bit and lost a lot of experience along the way.
Today, they do seem more interested in low cost employers than they use to - are costs that much higher? Don’t really know the problem but it does exist.
yes, I’d like to personally thank Barry and friends.
I hear ya.
True, I will not pay the excessive cost of quick food these days as it is no longer worth the price. Can’t imagine that raising the minimum wage to 10 dollars will change that!
I fear that the cost of early employment for the young will be beyond the capability of employers or the cost of their output will be unacceptable to those that want their products. Government can continue to destroy the job sector or they can get the hell out of it... I think that I see the direction they intend to go.
Your statement is just another affirmation of the theory I’ve been holding. Youth and cheap labor trumps what us old guys can bring to the table. Why pay me $50K or $60K a year for my experience and knowledge when some 24 year old kid is willing to do it for $30K?
“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.”
Yeah right. Triple that.
Yep, that was their excuse and whether it was correct or not is not up to me. Now whether it actually improved their profit margins or caused them problems is also not known.
But...you are right on, it does happen often (more often than many think) and is probably for financial reason.
Yes, call it old age discrimination if you will. I call it money savings at the risk of their future profits... but what do I know. I always thought that the training and delay in productivity was a negative compared to the immediate results by those experienced programmers.
Have some doubts though that it is actually a savings in the long run - would love to see some statistics on that.
“Neither party is doing one spit, about American jobs.”
We now have government by special interests.
Yep, welcome to the real world!
Sorry to say that age discrimination happened long before this administration. Companies have now decided that anyone over the age of 50 regardless of experience is a detriment to their bottom line. It is a major problem but it seems that companies have decided in mass that it is better to hire cheaper labor than experience. Doubt that they are right but they do have the ultimate decision and it does seem to be universal.
Hope you can retire soon as it may be necessary regardless if feasible.
I an American of Mexican ancestry have been out of a job for now 1 year and 7 months. Even unemployed no way in hell would I vote for a communist especially a black communist.
3.5 million out of 325 million people. Aren’t we being a tad bit dramatic. A little over 1 percent......Oh knowssssssss....we are drowning. Good Lord what a liberal article. Poor bleeding heart liberals are hurting....Oh brother.
Wow! You have no idea what you are talking about do you?
One, of the population of the United States - you say 325 million, only about 170 million actually work for a living.
Of those folks, about 15% are out of work and most are long term.
Those that are out of work also account for the prosperity of another 30-40 million people. To you, it seems a small problem.
You are an asshole without a heart or common sense!
Soon going to be happening to me, too. Mid 50’s.
Served 24 years.
At my age, no other employer will get 24.
Loyalty means nothing. I’ll probably have a bunch of short term/part time jobs until able to tap retirement accounts.
What will it matter on a resume?
Really sorry to say that you are right. Loyalty nor capability and experience seems to be an asset if over the age of 50. The good side is the Government decided not to penalize 401K’s (20% tax) after the age of 55 if you decide to cash them out due to non employment.
Guess that they understood the problem years ago but failed to act - as Government does...
Your resume (or background on this site) is so much better than your comments. If I overstated, I apologize but if you overstated, I expect an apology from you. Your background seems much better than your comments.
Sorry, this was directed to napscoordinator. Sorry for the misdirection.
I thought you had to be 59 1/2 yrs old to avoid the penalty.
As a PFC-for-life, I salute your career of dedication to your country, sir. And you’re correct - loyalty means nothing. There’s no right vs. wrong ethic with employers anymore. You’ll probably be hired by a recruiter, and farmed out to a business who will cut you loose the second you finish helping them achieve their goals. We’re being used as throwaway parts by a bunch of androids out there, and the bottom line is the almighty accounting ledger. Our experience means nothing if they can buy someone half our age at 60% of the price. I was sidelined (again) five weeks ago with a massive bacterial infection. It took me four months to find that job after getting laid off from my previous position. Now, I’ll have to start all over again after I get medically cleared. I have no idea what my prospects are after that. Almost 20 years of IT experience that will probably not be given a second glance once some wet-behind-the-ears kid makes himself known.
No, if you are laid off or out of a job at the age of 55 and you have a 401K with that company, you can cash out. It was with that company.
Can’t swear that is the case for other 401K’s but actually I think you can do that with any 401K after the age of 55.
Worked for me and enjoyed a 10 year golf vacation after giving up on finding a job at that age. Good luck.
Search 401k and 55 and you will find the information. It applied to me, not sure if it applies to you.
You made it by 22 seconds.
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.
The MSM always seem to rediscover them when a Republican is president.
They don’t care a hoot about food or gas costs either. But when Republicans are in power they get blamed for hurricanes.
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.
I was out of work for 6 months. Only got a job because I knew somebody. It is bad out there.
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.