Sunday, December 6, 2009

Long Term Unemployment Worsens

(Via This is not good news:

"Within the vast pool of 15.4 million unemployed workers, a split is emerging: The number of long-term jobless — those out of work six months or longer — is growing, while the number of short-term unemployed is declining.

The trend highlights a considerable challenge for the economy and policymakers: finding a way for the millions of Americans laid off last fall and early this year to get back to work.

The data, buried in Friday's unemployment report, are stark: The number of Americans out of work for 27 weeks or more reached 5.9 million last month, the most on records dating from 1948. That's 18 percent more than just three months ago, when the total was just below 5 million."

The long-tern economic trend is not yet getting better.  The fundamentals are not strong.  And Obama talks, and talks, and talks.

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