April 6, 2010

All-Time High: 3 Million Americans Have Now Been Jobless For Over A Year

Posted: 08:30 PM ET

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More than three million Americans have been out of work for at least a year, according to a new analysis of unemployment data.

That represents 23 percent of the roughly 14.8 million Americans out of work and looking for a job - a post-World War II high. For those 3.4 million Americans, the consequences from such a long time out of work - a cost of the Great Recession - can be calamitous.

"[T]he likelihood of finding a job declines as the length of unemployment increases," notes the team led by Ingrid Schroeder, director of the Pew Fiscal Analysis Initiative, a program of the Pew Economic Policy Group and the Pew Charitable Trusts. "People who are unemployed for a long time can lose their job skills. A long unemployment spell can mark them as undesirable, making it more difficult to compete against other job candidates. [Federal] data suggests that workers who are jobless for the longest duration incur the largest reductions in weekly earnings upon returning to work."

To help them cope, Congress has extended unemployment benefits. In some states, the unemployed can claim benefits for up to 99 weeks.

But that comes with a cost.

According to Schroeder's team, the federal government could spend up to $168 billion this fiscal year on unemployment benefits, a five-fold increase from each of the years immediately preceding the recession, which officially began in December 2007.

That's equal to the combined proposed fiscal year 2010 budgets for the Departments of Agriculture, Commerce, Energy, Homeland Security, Interior, Justice, Labor, and the Environmental Protection Agency.

Filed under: Unemployment

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Cajazz76:24:8   April 6th, 2010 8:46 pm ET

The dynamics involved in an 7.0 magnitude recession has always shown that the last recovery step is jobs. This recession began in 2006 and has been a rough one, but it will abate.

IKHAN   April 6th, 2010 9:01 pm ET

Hi Larry,

Do those sitting smugly on their thrones up on the Hill know this.Or are they good just for licking their chops after raising millions for their re-election?

Just a second! They are good for signing away checks to fund wars & feed our allies.

Bill   April 6th, 2010 9:10 pm ET

Larry I have been watching all day the coverage of the mine accident, as I also watched the coverage of the accident 3 years ago. I question why is it that these companies rush to drill holes to serve as vents so they can vent gas that has acculmited after an accident, why don't they have these vents in place at random locations before the accidents occur.

Joe G. (Illinois)   April 6th, 2010 9:12 pm ET

Talk about all them temporary people that got hired
for the 2010 Census and made news recently...

With all them “3 Legged Stools” Obama purchased a year ago.. By now we should have all kinds of people counting, stacking, moving, storing, inventorying, transporting, etc, etc, etc.

But no.. Not one of them have I seen. Trillions of dollars worth, and not one of them of “3 Legged Stools” have I seen. They should be everywhere and anywhere by now!

But people say they like Obama speeches..

A. Smith, Oregon   April 7th, 2010 3:01 am ET

The Republican lawmakers are specifically the one's blocking federal emergency unemployment benefits from being dispersed to 400,000 unemployed Americans.

The Republican lawmakers and Republican party members should realize they are directly risking the loss of 400,000 voters that will not vote for any Republicans ever again.

In regards to the lack of jobs, American Corporations making full use of Republican tax breaks for overseas operations moved many of their manufacturing overseas for cheap labor, no health insurance payments, no unions, no environmental laws, no social security nor medicare-medicaid taxes on their employees.

The 1.3 Trillion dollar tax break for the rich by the Republican led administration of Bush-Cheney wasn't paid for and it certainly didn't lead to American Corporations performing mass hiring here in America.

Republicans are All RHINO's

(Republican lawmakers are Hypocrites In Name Only)

PROF Dave W. Dawson   April 7th, 2010 5:20 am ET

Many have done VOLUNTARY Community Work across the Voluntary Spectrum.
This stands many in GOOD STEAD on their return to W.O.R.K.
COMMUNITY WORK = COMMUNITY LOVE & they know it & we know it.
Work in EVERY sector is required to reap results.
Employers & new Business will follow up on such results & plant their own Business seeds.
Take a look at Gaza City, Palestine.
There's nothing much left of it until the Voluntary Effort there makes way for Business Number-crunchers.
It's Number-crunchers that reduce dole queues.

PROF Dave W. Dawson   April 7th, 2010 5:31 am ET

Of those unemployed, how many still have TEAM SPIRIT?

Jessie from Auckland, NZ   April 7th, 2010 6:37 am ET

Charity begins at home.

Jessie from Auckland, NZ   April 7th, 2010 10:36 am ET

Heck that's almost the entire population of NZ bar 1 million.

eJay   April 7th, 2010 11:35 am ET

The Republicans say that the Obama administration and the stimulus are not creating jobs, and at the same time they say no more emergency unemployment benefits.

hot lips cami   April 7th, 2010 8:30 pm ET


Ted   April 8th, 2010 11:50 am ET

There is an easy and fast way to inprove employment.
Get our troops out of Iraq and Europe, use the saved billions to start rebuilding Amerika. Building new highways, bridges, schools, ports, etc. would give a job for at least a million unemployed persons and would make our country look better.
We have been blowing our money all over the world for the past 70 years, making a lot of millionairs in foreign cuntries.
Haw about caring for US first, charity should always start at home.

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