Tag: long term unemployed

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Americans Giving Up The Job Search

The latest jobs report from the  U.S. Bureau of Labor Statistics  provides little encouragement for Americans desperate for work.

As a result of the dismal record of job creation over the past six years, a product of policies including the world’s highest corporate tax rate, the additional expenses brought on by Obamacare, slowdowns in military contracting and other government employment, unnecessarily high energy prices, and the overall uncertainty brought about by a generally anti-business environment, and a variety of other factors, more Americans are out of the labor force than at any time since 1978.

The Center for Economic and Policy Research  notes that that “the decline in labor force participation has been striking.” 92,269,000 Americans 16 and older aren’t participating in the labor market.

Treating only the behavior does not address viagra samples from doctor the physical and neurological factors of the disease. In case you are not sure about the number, you can call the icks.org generic cialis pill dealership and verify. The helpful methods would be penile buying online viagra icks.org implants or vascular reconstructive surgery. Once the spongy male good service cialis online organ gets filled with sufficient amount of blood. A CNN study  reports that “about 91 million adult Americans don’t work, and aren’t looking for jobs. They make up 37% of the population — the highest level on record since 1978.”

The Heritage Foundation’s recent report indicates that  “over 6.9 million fewer Americans are working or looking for work. This drop in labor force participation accounts for virtually the entire reduction of the unemployment rate since 2009…Demographics changes—such as retiring baby boomers—explain less than one-quarter of the decrease in labor force participation. More people collecting disability benefits and more people studying in school account for the rest of the drop. Both factors reflect the difficulty of finding work. Fully 6 percent of U.S. adults are on Disability Insurance.Job creation fell sharply after the recession began and has not recovered. The government’s response has been largely ineffective.6Instead of voting for vast subsidies and public works programs, Congress should reduce the tax and regulatory burdens on businesses.”

A MSN Money analysis   provides worrisome news for the group that should now be a key component of the work force—millennials. “Millennials are giving up. This generation, also known as Generation Y, was born between 1977 and 1994, and is having a serious problem finding work. They aren’t getting the jobs that have come back in the recovery. As a result, 36% of them still live with their parents, they aren’t working and they’re feeling pretty miserable about the whole thing. Their parents can’t be too thrilled, either.”

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Unending Job Crisis

America’s jobs crisis is not easing.  Although statistics indicate that the unemployment rate has improved, the jobs created have been lower in pay and taken in large measure by immigrants.

Officially, the U.S. Bureau of Labor Statistics   (BLS) latest employment report gives a “U-3” unemployment rate of 6.2%, the most widely reported indicator of the jobs picture. The more accurate figure, known as the “U-6,” which includes those unemployed, employed only part time, or just marginally attached to the work force is a far higher 12.2%.

BLS also notes that the disturbingly high number of long-term unemployed remained at a very high 3.2 million, a number accounting for 32.9% of all those unemployed. As noted in a U.S. News study, “The long-term unemployment rate remains more than double what it averaged before the downturn…and may be putting downward pressure on the overall participation rate.”

But even that far higher number doesn’t outline the real challenge facing American citizens.

Investors Business Daily  notes that the reported rise in employment from the depths of the great recession “was almost exactly matched by an equal number of “involuntary” part-time jobs—that is, workers who want a full-time job but can’t find part time.  You can thank Obamacare’s 30-hour-a-week rule for this disappearance of full time jobs. Meanwhile, the overall labor force participation rate remained at its three-decade low.”

The jobs that have come back following the depths of the recession have been lower paying than those that were lost. The Wall Street Journal  reports “[T]he job market is a far cry from what it was before the financial crisis slammed the economy in 2008.  The number of jobs in manufacturing, construction and government—typically well-paying fields—has shrunk, while lower- wage work grew.  The U.S. has 1.6 million fewer manufacturing jobs than when the recession began, but 941,000 more jobs in the accommodation and food-service sector.  More than 40% of the jobs added in just the past year have come in generally lower-paying fields such as food service, retail, and temporary help.”
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The bad news for Americans doesn’t stop there. An analysis by the Center for Immigration Studies (CIS)  notes that “two thirds of the net increase in employment since President Obama took office has gone to immigrant workers, primarily legal immigrants. [but also including some illegals]”

CIS outlines three steps taken by the Obama Administration that has tipped the scales in favor of immigrants versus native workers:

[President Obama] offered work authorization to an estimated two million illegal immigrants who arrived in the country before age 16. When auditing employers who hire illegal workers, the Administration has not detained the illegal workers as a matter of policy, allowing them to take new jobs. The Administration called on the Supreme Court in 2010 to strike down Arizona’s law requiring employers to verify the legal status of new workers.

The replacement of native workers with immigrants produces a downward pressure on wages, and edges out American workers at the lower end of the earnings scale.

Overall, as noted by the Wall Street Examiner, “Job growth is too slow to grow the U.S. out of its unemployment problem. As for the quality of the new jobs being created, let’s not even go there.”

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Jobs outlook remains bleak

Once again, what appears to be good news from the Bureau of Labor Statistics (BLS) does not hold up under scrutiny.

According to the BLS, “Total nonfarm payroll employment rose by 217,000 in May, and the unemployment rate held at 6.3 percent. Employment increased in professional and business services, health care and social assistance, food services, and transportation and warehousing.” Much has been made of the fact that the number of jobs now equals that which existed before the recession hit.  A more thorough examination reveals a sharply different picture.

An analysis by Rep. David Camp, notes that “seven out of eight new employees under President Obama have been part-time employees.”

The Economic Policy Institute ntes that “young college graduates face an unemployment rate of 8.5%, compared with 5.5% in 2007, and an underemployment rate of 16.8%, compared with 9.6% in 2007.” Many of those grads who are working are in positions that don’t require degrees.
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2013 saw a record high number of U.S. workers on disability. The number of long-term unemployed continues to be an unresolved crisis. These displaced workers count for 37.7% of all unemployed.

The labor force participation rate continues to drop precipitously. In the past year alone, it has dwindled from 63.4% to 62.8%, a 36 year low.

The replacement of quality, career-level positions with part-time jobs may appear statistically equal, but the reality is far different.  Statistics which ignore the labor force participation rate and the quality of positions available are not an effective barometer of the true employment outlook.