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New CBO Report on Unemployment
Posted: Mar 14, 2014
The Rise in Long-Term Unemployment:
Causes, Effects, and Policy Options
February 20, 2014
Presentation to the Winter Policy Forum of the
National Association of State Workforce Agencies
William J. Carrington
Microeconomic Studies Division
At the bottom of this page is the link to see all the graphs and other iwritten nformation
The Rise in Long-Term Unemployment: Causes, Effects, and Policy Options
February 20, 2014
Presentation to the Winter Policy Forum of the National Association of State Workforce Agencies
William J. Carrington Microeconomic Studies Division
Unemployment and Long-Term Unemployment Were Very High During and After the Recession
■ The unemployment rate rose from less than 5 percent in
most of 2007 to 9.6 percent in 2010, and it has now fallen to
6.6 percent.
■ Unemployment initially rose mostly because of a large number
of layoffs and plant closings in 2008 and 2009.
■ Long-term unemployment (defined as being unemployed for
more than 26 consecutive weeks) rose to a historic high;
during a typical month since 2010, roughly 40 percent of
unemployed people have been unemployed for more than
26 weeks
http://www.cbo.gov/sites/default/files/cbofiles/attachments/45181-NASWAPresentation-2.pdf
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Did you see this part? - Seems like good news??
[ In Reply To ..]The unemployment rate rose from less than 5 percent in
most of 2007 to 9.6 percent in 2010, and it has now fallen to 6.6 percent.
AND IT HAS NOW FALLEN TO 6.6%.
Is this bad news somehow?
You can't trust those figures, because once people - are off UI or stop looking for work, -
[ In Reply To ..]they disappear from the radar entirely, and are not counted. Some estimations I've read put the *true* unemployment figure in the U.S. at closer to 20 percent.
I agree with you. - True number said to be 20%.
[ In Reply To ..]I sure hope our next president will have some sort of business knowledge, even at a high school level would be helpful.
Does it feel like 20 percent of the public is unemployed? - It doesn't to me.
[ In Reply To ..]For the past year, it seems like things are getting better. Not booming like it was in the late 90s, but places seem to be hiring again.
Are we to believe you or the facts? - sm
[ In Reply To ..]I'll go by intelligent reporting with real statistics, thank you very much.
No, it doesn't to me either - more like 30 or 40% - sm
[ In Reply To ..]Don't know where you are from, but where I am more and more people are losing their jobs. My family across the country says the same thing, as does my friend from the southern part and 2 other friends in the eastern region. Things are getting worse all over the country with more and more people losing jobs. Sorry, things are not getting better.
Just look at store fronts closing. - sm
[ In Reply To ..]That's just one example. Those are the mom and pop stores, the bread and butter. No companies to work for equals no jobs. No jobs equals no tax revenue. This country is in a death spiral thanks to obamanomics. We can't just blame him, though. There is blame for every one who voted for a person with no business sense. After all, he was a community organizer and didn't even organize the finances for that. He was in the senate for 10 minutes. He had no experience. But the people fell for him, the messiah.
That's why the stores that remain have such a - huge pool of potential sales clerks and - sm
[ In Reply To ..]cashiers to choose from, they can put "B.A. in business required" in their job ads. In some cases, I don't even qualify to be a dog walker.
Messiah, wow. That's pretty dramatic. - nm
[ In Reply To ..].
Not according to Farrakhan and Michelle and Oprah - Tell it to them
[ In Reply To ..]nm - except...sheesh!
But that has ALWAYS been the case with CBO. - No different now. nm
[ In Reply To ..].
Bernie Sanders (I) Vermont - sm
[ In Reply To ..]...just told Bill O'Reilly that national unemployment was 13% and "youth" unemployment was 20%. He hedged on some of Bill's other questions, but he emphatically declared himself a socialist.
He thinks he'll be a better president than Hillary. - He's a socialist.
[ In Reply To ..]America is NOT about socialism.
Uh, yeah, it kind of is - in some ways.
[ In Reply To ..]Farmers get tax breaks, corporations get tax breaks, grandma and grandpa get great health insurance that they'd never be able to get otherwise. Children aren't starving on the street because of government food stamps. And people like it like that.
This country does not practice pure Ayn Rand capitalism in any way, shape, or form.
Um, no it does not - Jeepers man
[ In Reply To ..]This country does not follow any socialist ways. That's not what the country was founded on.
By your message that you wrote all I would suggest is that you please research what socialism really is. Just because someone gets a tax break does not mean that the country is now socialist. Not everyone gets those tax breaks. Also the so called great health insurance does not always mean they are going to get great health care.
Please, please please read up on what socialism really is. This country was not founded, does not follow and never will be a socialist country no matter how much some want it to be.
So is Hillary - no difference
[ In Reply To ..]Well there is, but won't say.
Sanders cares about ALL Americans, and I - sm
[ In Reply To ..]would vote for him in a heartbeat!
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