subject: There Is A Worry That The Benefits Would Expire Before Another Job [print this page] There is a nagging worry among the unemployed that benefits will run out before another job is found. This has led to a staggering dependency on food stamps it being responsible for feeding one out of nine Americans. The people are aware that with each passing day it is getting more difficult to get employment. For every job available there are six people available. When the recession started the proportion was 1.7% per vacancy.
The labour groups cocktail mixture has changed. The over 55s working have increased by 8%. They are now compelled to work because of decline in the value of their properties and investments, and to avoid foreclosure. 63% of those between 50 years to 61 years will be retiring late causing a blockage for the younger aspirants. During the previous two recessions those in the age group ranging from 45 to 55 gained as regards employment while the younger group suffered from cutbacks.
This time one fourth of the teenagers numbering 1.6 million are unemployed. The rate for the young Americans has rocketed to 52% - the highest since World War II.
In this recession more men than women have become jobless probably because the latter are less paid. As a result recently women made up 50% of the work force.
Some types of jobs may never return those in the financial sector and automobile manufacturing. Growth in jobs would now come mainly from health system, education, eateries and hotels. In the last decade most of the new jobs came from health sector. But these service jobs cannot sustain growth and create openings.
It is being learnt that unemployment statistics is worse than what was previously apprehended. This is the first recession since the 30s that has wiped out all growth in employment from the last business cycle. In September the jobless number reached a staggering 785,000.
The unemployment figure of the 12 months ending in March was not properly stated it was more than 824,000. In the first 3 months the country lost 3 million jobs. For 21 months running jobs have been lost the longest running streak since 1939. The labour figures of the government are limited by certain conditions. For example if a person stops hunting for a job for 4 weeks then he or she is not counted to be unemployed. Thus approximately 2.2 million workers who have run out of incentive and hope are now not counted as unemployed. It is absurd!
