Sunday, June 5, 2011

Unemployment worse now than Great Depression, via @CBSNews

via elephantjournal
(CBS News) There is an unfortunate adage for the unemployed: The longer folks are out of a job, the longer it takes them to find a new one.
CBS News correspondent Ben Tracy reports that the chronically unemployed face the hardest road back to recovery, and that while the jobs picture may be improving statistically on a national level, it is not for them.

Tinong Nwachan, for example, has far too much time on his hands. When CBS News met the former truck driver he had been out of work for two years.

"I don't really tell too many people this but I'm not ashamed or nothing, I'm homeless," Nwachan said.

Summer job bummer: Teen unemployment 24 percent, nearly 14 million Americans are looking for work....

About 6.2 million Americans, 45.1 percent of all unemployed workers in this country, have been jobless for more than six months - a higher percentage than during the Great Depression.
I'm surprised the lamestream media is finally reporting about our economic Depression. Oh, well. Better late than never.

6 comments:

LL said...

The White House downplayed the unemployment picture. The mainstream media reluctantly admits that there are some people unemployed.

In statistically significant areas of the nation unemployment an underemployment are in the 25% range. In other areas it's not so bad. Figures lie and liars figure so I don't expect to see any attempt by the media to report the truth, but it's there. And despite the claims by the Obama Administration that happy days are here again, only the employed progressives swallow it.

Mustang said...

CBS News correspondent Ben Tracy reports that the chronically unemployed face the hardest road back to recovery, and that while the jobs picture may be improving statistically on a national level, it is not for them.

This is why I rarely watch CBS and other network media outlets … Mr. Tracey is suggesting a false narrative. There is no evidence indicating that the “jobs picture may be improving statistically.” None. In fact, given the fact that so many people have given up looking for work in horribly depressed regions of the country, the real unemployed rate is close to 20%. I have never once heard the lame-stream media report this truth …

Woodsterman (Odie) said...

Wait just a minute ... Didn't some say we're in a "Recovery".

WoFat said...

Well, people wanted "change." They got it.

el chupacabra said...

I think it's understood FDR's policies may have helped America gain some traction out of the Depression, but also insured stagnation and slowed true recovery.

Wonder how the stimulous spending of the past couple of years compares?

They Say/We Say said...

Ask the Union Bosses. How much dues money went to the DemocRat Party Campaign Coffers.
My last few post are the Money that went to (90 per cent) Dems. from the Unions.
A drive by commenter asked me to show the Big Oil contributions. Ha, I did and the Big Oil- did not even equal but only ONE UNION; add up all the Unions and the Big Oil contributions to the Reps don't even show up on the Radar.