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The betting is that the Labor Department's Friday snapshot of the job market will show that employers added workers in April, perhaps even that the unemployment rate fell.
That would be good news, but not good enough. It's hard to exaggerate how bad the job market is. Here's one arresting fact: One of every five men 25 to 54 isn't working.
Even more alarming, the jobs that many of these men, or those like them, once had in construction, factories and offices aren't coming back. "A good guess…is that when the economy recovers five years from now, one in six men who are 25 to 54 will not be working," Lawrence Summers, the president's economic adviser, said the other day.
If they're working at all. Today, 6.5 million workers have been out of work for six months or more, and that includes only those who are still looking for work. History suggests the longer they're unemployed, the less likely they are ever to work again. Faster economic growth would help a lot, but won't suffice.
Originally posted by boondock-saint
I'm included in that statistic
hell I'm even overqualified
to work at McDonalds
or so they say.
And the job of stock boy and
toilet cleaner at the grocery store
went to an 18 yr old still in high school.
Hell I cant even get a job working
picking cucumbers for a local farmer
cuz he'd rather hire illegals who will
work for $3.50 an hr. Which is also
There are no jobs left
plain and simple