Unemployment: What Are the Big Trends?

Unemployment rate improves as long-term unemployment persists

Five years on, the financial crash is no longer a fresh trauma. But its damage is far from resolved. So as the country gears up for 2014, where do the economy and jobs landscape stand?

The Wall Street Journal produced a video (see below) surveying the economy and as the video attests, the economy has seen recovery from the worst pits it reached in 2010. Back then, the unemployment rate stood as high as 10 percent; at latest tally in November, the figure stood at 7.0 percent, as was documented by the Bureau of Labor Statistics.

But as Heidi Shierholz, an economist with the liberal and non-profit Washington D.C.-based research organization, the Economic Policy Institute, recently told AOL Jobs, "We've actually made very few improvements to the labor market. You also have to consider all the jobs we should have been adding over these past five years, instead of trying to recoup the jobs that have been lost."

Indeed, one group of workers who continue to suffer are the long-term unemployed, a group whose size is hard to track due to the reality that many have pulled themselves out of the labor market. But as AOL Jobs reported last month, studies have pegged the total to stand at 4.1 million workers.

The suspicion that these workers are discriminated against in the labor market is not paranoia; research conducted by Rand Ghayad, a Ph.D. candidate at Northeastern University, found recently unemployed job candidates had better luck at landing gigs than qualified workers who have been out of work for longer. In total, Ghayad sent out a total of 4,800 dummy applications, and he found the recently unemployed got call-backs between nine and 16 percent of the time. For the qualified who have been out of work more than six months? One to three percent of the time.

See below for more from the Journal. And leave a comment below. Where do you think the economy stands?

Unemployment: What Are the Big Trends?

Add a Comment

*0 / 3000 Character Maximum

7 Comments

Filter by:
Iselin007

EPI makes a lot of common sense. They put out pdf reports that show the losses. The trade deals and all the other stuff that got generations of people pushed to the curbside will be felt for a long time.

December 11 2013 at 5:18 PM Report abuse rate up rate down Reply
Iselin007

Thanks for letting me rant.

December 11 2013 at 5:07 PM Report abuse rate up rate down Reply
Iselin007

Many of the young are bitter. They hate SSI and the older workers that stand in the way of their climbing to the top of the box store. They may now have to pay higher healthcare costs for the same people they are trying to run over!

It\'s a tight job market tight like being cooped up together in a small room where everyone just gets on each other\'s nerves. For crying out loud the government has to beg employers to hire Veterans! Problem with the unemployment in the USA?

December 11 2013 at 5:05 PM Report abuse rate up rate down Reply
Iselin007

Trade deals and the raw deals given the American Workers shows in our cities and collapsing infrastrusture. I bet if there was a need for a draft they would come looking for many of the left behind folks who they did not give a hoot about before.

December 11 2013 at 4:57 PM Report abuse rate up rate down Reply
Iselin007

How fair is the formula for unemployment when your adding too many people from outside the USA. The US companies hire millions of foreign nationals in there 20\'s ect and they wonder why there is long term unemployment.

Peopleon tech visas are bringing in their relatiives who take more jobs and overload the social net works. They aren\'t hiring the unemployed because they are saving the jobs for their family and their own culture.

December 11 2013 at 4:50 PM Report abuse rate up rate down Reply
Iselin007

As long as there is access to the Global Market of job seekers this country will have a probem solving it\'s own problems because all those left behind will continue to pile up as unemployed or worse written off as not being in the labor force.

Productivity is now just sweatshop labor. Were like old horses who can\'t keep up with Kentucky Derby Winner.

December 11 2013 at 4:37 PM Report abuse rate up rate down Reply
Iselin007

Older people are being pushed out of the work force before they even get near retirement age. Once your left few choices after the outsourcing eliminates your opportunites your age becomes a problem because your stuck at the bottom of the ladder fighting for jobs your too old to do.

For too many years they have told people to retrain for jobs in a poor market where there is no entry level and where everyone else ends up. The schools get their meal tickets punched but the older grads go back on the breadline because job seekers are too numorous and employers are outsourcing caring only if they can eliminate the aging workforce.

.

December 11 2013 at 4:28 PM Report abuse rate up rate down Reply

Search Articles

Top Companies Hiring

Week of Aug 17 - Aug 24
View All

Picks From the Web