The jobs crisis has left so many people out of work for so long that most of America's unemployed are no longer receiving unemployment benefits.
Early last year, 75 percent were receiving checks. The figure is now 48 percent – a shift that points to a growing crisis of long-term unemployment. Nearly one-third of America's 14 million unemployed have had no job for a year or more....Read the rest at The Huffington Post
Most Of The Unemployed No Longer Receive Benefits
From lagging aggregate demand to debt-deflation and poverty in one easy step? How are these people who no longer have any going to keep up with the bills, or feed their families?
What was that about the road to serfdom. What about the road to poverty that many who were formerly in the middle class are now on?
3 comments:
This is one of the main reasons why OWS movement will be getting stronger - a lot of people with plenty of free time and nothing much to lose.
Tom,
Welcome back! How was the vacation?
Hi MIke,
Vacation was a mixed blessing. I was forced to change course midstream due to an allergy explosion. But otherwise, all went well, thanks.
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