Saturday, October 12, 2013

Update on Long-Term Unemployed - October 2013

News Day (October 11, 2013) - Number of long-term unemployed workers swells as hiring lags

Slow hiring, evaporating jobs, outdated skills in an era of rapidly changing technology, and the stigma against hiring unemployed workers have produced persistently high levels of long-term unemployment not seen since the Great Depression, several economists said. And no end is in sight in the near term.

(No more federal extended benefits after December) Workers who filed for benefits on or after June 24 of this year qualify for just the regular 26 weeks. (20 weeks in some States)

Key sectors like manufacturing, whose higher-wage jobs have a multiplier effect of generating employment in other areas of the economy, continue to shed jobs.

"Hiring has just been so weak for so long," said Shierholz of the Economic Policy Institute, "that we just have this huge group of long-term unemployed."

One man says, "The only person that's going to hire me is me."

Rockefeller Foundation (October 11, 2013) - Long-Term Unemployed Still Struggle in Post-Recession Economy

One study (Who are the Long-Term Unemployed?) highlighted the widespread and pervasive nature of long-term unemployment, affecting every demographic, industry and region in the United States. There was no safe harbor from this storm.

In-depth interviews with the long-term unemployed by highlighted the significant toll that extended joblessness takes on workers and their families.

Another study from Urban.Org (Consequences of Long-Term Unemployment) notes long-term unemployment erodes assets, diminishes re-employment possibilities, and significantly reduces lifetime wages. In addition, the long-term unemployed face higher rates of family instability, mental, and physical health problems.

Long-term unemployment diminishes re-employment possibilities, and significantly reduces lifetime wages.

The interviews with the unemployed and potential employers also highlighted the difficulty in regaining employment. Employers are faced with a digital deluge of resumes, and many of their screening techniques may particularly disadvantage the long-term unemployed. For example, extended gaps in one’s employment record or a poor credit score can disqualify one for a job for which they are otherwise qualified.

"19.93 Million are Unemployed and Want a Job" (see all related links at the bottom of this post for long-term unemployed, older workers, and disability.

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