Rich kids use the Internet to get ahead, and poor kids use it ‘mindlessly’

[fhl]

Get a JOB, buddy!

There Are Nearly Six Unemployed Construction Workers for Every Construction Job Opening
Posted March 10, 2015 at 1:40 pm by Elise Gould

"One of the recurring myths following the Great Recession has been that recovery in the labor market has lagged because workers don’t have the right skills. The figure below, which shows the number of unemployed workers and the number of job openings in January by industry, is a useful way to examine this idea. If today’s labor market woes were the result of skills shortages or mismatches, we would expect to see some sectors where there are more unemployed workers than job openings, and others where there are more job openings than unemployed workers. What we find, however, is that there are more unemployed workers than jobs openings in almost every industry.

"The notable exception is health care and social assistance, which has been consistently adding jobs throughout the business cycle, and there are signs that workers in that industry are facing a tighter labor market. However, we have yet to see any sign of decent wage gains yet, which would be the final indicator that the labor market, at least for those workers, was approaching reasonable health.

"Other sectors have seen little-to-no improvement in their job-seekers-to-job-openings ratios. There are, for example, still nearly six unemployed construction workers for every job opening. In other words, despite claims from some employers, there is no shortage of construction workers.

"Taken as a whole, these numbers demonstrate that the main problem in the labor market is a broad-based lack of demand for workers—not available workers lacking the skills needed for the sectors with job openings."

Chart, with all sectors

Six years of obamanomics, mountains of debt and zero interest rates get ya Nearly Six Unemployed Construction Workers for Every Construction Job Opening.

Well done.

 

[Tsing Tao]

Six years of obamanomics, mountains of debt and zero interest rates get ya Nearly Six Unemployed Construction Workers for Every Construction Job Opening.

Well done.

But, you see, we had this little thing they call a recession...

(or so the chant goes)

 

[Ricter]

Granted, government should be there for (only) the truly needy...


Report | Jobs and Unemployment
How Low Can We Go? State Unemployment Insurance Programs Exclude Record Numbers of Jobless Workers
By Will Kimball and Rick McHugh | March 9, 2015

Introduction and executive summary
"The Great Recession and its aftermath created severe challenges for unemployment insurance (UI) programs in the United States and for jobless workers relying upon them. In this briefing paper, we show that state UI programs are failing their critical goals of income replacement and supporting economic growth. The proportion of jobless workers receiving benefits from state programs, referred to as the UI recipiency rate, fell to 23.1 percent in December 2014—below the pre-Great Recession record low of 25.0 percent in September 1984.

"Due to the expiration of federal emergency unemployment benefits at the end of 2013, jobless individuals were solely dependent upon state UI programs for support in 2014. While state UI benefit recipiency overall has declined due to the improving economy, these state programs in many cases failed to assist jobless workers. This brief focuses special attention on those states that have cut their potential available weeks of UI benefits to below the long-accepted norm of 26 weeks. Because state UI programs are mainly designed to address short-term unemployment, we focus our analysis on the short-term recipiency rate, which excludes people who have been unemployed for 27 weeks or more from the proportion of jobless workers receiving benefits from state programs.

"The key findings of this brief include the following:

• Since 2011, nine states have cut maximum durations of unemployment benefit recipiency: Arkansas, Florida, Georgia, Illinois, Kansas, Michigan, Missouri, North Carolina, and South Carolina.
• Eight of these states have experienced faster-than-average declines in their short-term recipiency rates. The exception is Illinois, which cut available benefits by only one week for a single year (to 25 weeks for 2012). In four of the states (Florida, Georgia, North Carolina, and South Carolina), short-term recipiency rates declined by between 1.7 and 8.6 times as much as the U.S. average decline.
• By cutting available weeks of benefits, these eight states’ already-low short-term recipiency rates fell even further below the recipiency rates of all other states. In 2014, Florida, Georgia, North Carolina, and South Carolina ranked in the bottom eight states in short-term (less than 26 weeks) recipiency rates.
• In North Carolina, one of the states with the most severe cuts (cutting the duration of benefits from 26 weeks in 2013 to 14 weeks in 2014 as well as cutting the level of weekly benefit amounts), the decline in the short-term recipiency rate was 14.4 percentage points (or 8.6 times) greater than the nation’s average decline since the cuts went into effect in July 2013.

"Expanding our analysis to the regular (versus short-term) UI recipiency rate, we find that jobless people exhausting state UI benefits in 2014 had less protection from income loss than any cohort of jobless individuals exhausting state UI benefits over the last few decades."

In detail...

 

[Tsing Tao]

Granted, government should be there for (only) the truly needy...


Report | Jobs and Unemployment
How Low Can We Go? State Unemployment Insurance Programs Exclude Record Numbers of Jobless Workers
By Will Kimball and Rick McHugh | March 9, 2015

Introduction and executive summary
"The Great Recession and its aftermath created severe challenges for unemployment insurance (UI) programs in the United States and for jobless workers relying upon them. In this briefing paper, we show that state UI programs are failing their critical goals of income replacement and supporting economic growth. The proportion of jobless workers receiving benefits from state programs, referred to as the UI recipiency rate, fell to 23.1 percent in December 2014—below the pre-Great Recession record low of 25.0 percent in September 1984.

"Due to the expiration of federal emergency unemployment benefits at the end of 2013, jobless individuals were solely dependent upon state UI programs for support in 2014. While state UI benefit recipiency overall has declined due to the improving economy, these state programs in many cases failed to assist jobless workers. This brief focuses special attention on those states that have cut their potential available weeks of UI benefits to below the long-accepted norm of 26 weeks. Because state UI programs are mainly designed to address short-term unemployment, we focus our analysis on the short-term recipiency rate, which excludes people who have been unemployed for 27 weeks or more from the proportion of jobless workers receiving benefits from state programs.

"The key findings of this brief include the following:

• Since 2011, nine states have cut maximum durations of unemployment benefit recipiency: Arkansas, Florida, Georgia, Illinois, Kansas, Michigan, Missouri, North Carolina, and South Carolina.
• Eight of these states have experienced faster-than-average declines in their short-term recipiency rates. The exception is Illinois, which cut available benefits by only one week for a single year (to 25 weeks for 2012). In four of the states (Florida, Georgia, North Carolina, and South Carolina), short-term recipiency rates declined by between 1.7 and 8.6 times as much as the U.S. average decline.
• By cutting available weeks of benefits, these eight states’ already-low short-term recipiency rates fell even further below the recipiency rates of all other states. In 2014, Florida, Georgia, North Carolina, and South Carolina ranked in the bottom eight states in short-term (less than 26 weeks) recipiency rates.
• In North Carolina, one of the states with the most severe cuts (cutting the duration of benefits from 26 weeks in 2013 to 14 weeks in 2014 as well as cutting the level of weekly benefit amounts), the decline in the short-term recipiency rate was 14.4 percentage points (or 8.6 times) greater than the nation’s average decline since the cuts went into effect in July 2013.

"Expanding our analysis to the regular (versus short-term) UI recipiency rate, we find that jobless people exhausting state UI benefits in 2014 had less protection from income loss than any cohort of jobless individuals exhausting state UI benefits over the last few decades."

In detail...

Who are you and what have you done with Ricter?

 

[Ricter]

Who are you and what have you done with Ricter?

You don't see the sarcasm?? I must be slipping.

 

[Tsing Tao]

You don't see the sarcasm?? I must be slipping.

Either you are or I am.

 

[fhl]

Granted, government should be there for (only) the truly needy...


Report | Jobs and Unemployment
How Low Can We Go? State Unemployment Insurance Programs Exclude Record Numbers of Jobless Workers
By Will Kimball and Rick McHugh | March 9, 2015

Introduction and executive summary
"The Great Recession and its aftermath created severe challenges for unemployment insurance (UI) programs in the United States and for jobless workers relying upon them. In this briefing paper, we show that state UI programs are failing their critical goals of income replacement and supporting economic growth. The proportion of jobless workers receiving benefits from state programs, referred to as the UI recipiency rate, fell to 23.1 percent in December 2014—below the pre-Great Recession record low of 25.0 percent in September 1984.

"Due to the expiration of federal emergency unemployment benefits at the end of 2013, jobless individuals were solely dependent upon state UI programs for support in 2014. While state UI benefit recipiency overall has declined due to the improving economy, these state programs in many cases failed to assist jobless workers. This brief focuses special attention on those states that have cut their potential available weeks of UI benefits to below the long-accepted norm of 26 weeks. Because state UI programs are mainly designed to address short-term unemployment, we focus our analysis on the short-term recipiency rate, which excludes people who have been unemployed for 27 weeks or more from the proportion of jobless workers receiving benefits from state programs.

"The key findings of this brief include the following:

• Since 2011, nine states have cut maximum durations of unemployment benefit recipiency: Arkansas, Florida, Georgia, Illinois, Kansas, Michigan, Missouri, North Carolina, and South Carolina.
• Eight of these states have experienced faster-than-average declines in their short-term recipiency rates. The exception is Illinois, which cut available benefits by only one week for a single year (to 25 weeks for 2012). In four of the states (Florida, Georgia, North Carolina, and South Carolina), short-term recipiency rates declined by between 1.7 and 8.6 times as much as the U.S. average decline.
• By cutting available weeks of benefits, these eight states’ already-low short-term recipiency rates fell even further below the recipiency rates of all other states. In 2014, Florida, Georgia, North Carolina, and South Carolina ranked in the bottom eight states in short-term (less than 26 weeks) recipiency rates.
• In North Carolina, one of the states with the most severe cuts (cutting the duration of benefits from 26 weeks in 2013 to 14 weeks in 2014 as well as cutting the level of weekly benefit amounts), the decline in the short-term recipiency rate was 14.4 percentage points (or 8.6 times) greater than the nation’s average decline since the cuts went into effect in July 2013.

"Expanding our analysis to the regular (versus short-term) UI recipiency rate, we find that jobless people exhausting state UI benefits in 2014 had less protection from income loss than any cohort of jobless individuals exhausting state UI benefits over the last few decades."

In detail...

Recovery summer
Greenshoots
Escape velocity

Record Numbers of Jobless

Hey, I know. Not enough aggregate demand, right?

 

[Ricter]

Either you are or I am.

Ok, here's the fight so far.
Scat jabs, "years ago you had to get a job, to eat" (and blames liberalism).
I land a heavy Thai round kick, with a picture of a Great Depression food line (a decidedly not liberal era).
I step and slide forward with, "job seekers still greatly outnumber job openings".
Scat covers and sidesteps, "of course government should help when needed".
You shout from ringside, "don't blame the recession!"
I fire a straight left (from a southpaw stance), "yes, government should!"
And I follow up with a right hook (same stance, I'm not stupid), "but it's not. (UI recipiency rate at its lowest level since Reagan)"

All in fun.

 

[Tsing Tao]

Ok, here's the fight so far.
Scat jabs, "years ago you had to get a job, to eat" (and blames liberalism).
I land a heavy Thai round kick, with a picture of a Great Depression food line (a decidedly not liberal era).
I step and slide forward with, "job seekers still greatly outnumber job openings".
Scat covers and sidesteps, "of course government should help when needed".
You shout from ringside, "don't blame the recession!"
I fire a straight left (from a southpaw stance), "yes, government should!"
And I follow up with a right hook (same stance, I'm not stupid), "but it's not. (UI recipiency rate at its lowest level since Reagan)"

All in fun.

That was entertaining, I'll grant you that.

 

[fhl]

With ricter and krugman economics, there'll be a permanent need for help for all the unemployed and poor.

Because seven trillion wasn't enough deficit spending. Or something.