After an upswing at the beginning of this year, the labor market is back in the doldrums. The latest report from the Bureau of Labor Statistics said the U.S. economy created just 114,000 jobs in September, and although the unemployment rate fell to 7.9 percent, the workforce remains shrunken. And even those gloomy numbers obscure the suffering of the long-term unemployed and the millions of workers who have dropped out of the labor force in the aftermath of the recession. Stay up-to-date on the state of the labor market with AEI’s economic experts, and find out their ideas for how to get America back to work.
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Even though unemployment is down, and job creation is better, long-term unemployment is still a national emergency, and it’s a really important one.
"Looking at the big picture, the labor market remains badly damaged by the Great Recession, and represents the most important public policy challenge facing the country today. The employed share of the working-age population has been essentially flat since the recovery officially began several years ago – it is not...
Happy fourth anniversary, America. June 2009 marked the official end of the Great Recession - as reckoned by the National Bureau of Economic Research - and the beginning of the current recovery. So, how are we doing?
Lawmakers will likely face a test on this soon-the current expanded unemployment program is scheduled to expire at the end of 2013, and some in Congress undoubtedly will seek to continue it. Perhaps the best policy Congress can pursue is to let this program end.
It has been almost four years since the end of the recent recession, but the U.S. has yet to return to its previous levels of unemployment. The shift in the Beveridge curve suggests that it may never do so.
Currently, there are 4.6 million workers in the U.S. who have been unemployed for 27 weeks or longer, and the impact of long term unemployment on the lives of unemployed Americans and thier families is a terrible thing.