Thursday, October 8, 2009

Unemployed & Discouraged workers

The Unemployment rate reached its highest in September since 1983 with the rate climbing to 9.8%. And the United States unemployed just topped 15.1 million unemployed men and women. Economists say that, like usual, unemployment will rise through the end of the year, but there is a possibility that the "surge of unemployment will extend well into 2010." And economists say that the "recession is technically over" but it is unknown when it will feel like it's over in the real economy. The main problem of unemployment is "How long the federal government will continue to extend unemployment benefits... the House has passed legislation to give an additional 13 weeks of benefits to residents of states with unemployment above 8.5%". Not only has the unemployment numbers risen, but also the number of "discouraged workers". Discouraged workers are "people not seeking work because they believe there are no jobs available- has risen by 239,000 in the past year to 706,000". An example of something good that has happened since our economy has lowered is that "Employment in health care rose by 19,000, which added 559,000 jobs since the beginning of the recession". Shierholz says "this recession is just astounding for the duration of the unemployment".

When I learned of these facts, the fact that shocked me the most was the number of "discouraged workers" there were. I, mean, I realize that there are not enough jobs for every person in the world, but for 706,000 people in the United States to not be looking for just is just ridiculous

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