Joblessness: The Kids Are Not Alright

From WSJ:

Will the U.S. accept youth unemployment levels like Europe’s?

Unemployment today doesn’t look like any unemployment in the recent American experience. We have the astonishing and dispiriting new reality that the “long-term jobless”—people out of work more than six months (27 weeks)—was about 44% of all people unemployed in February. A year ago that number was 24.6%.

This is not normal joblessness. As The Wall Street Journal reported in January, even when the recovery comes, some jobs will never return.

But the aspect of this mess I find more disturbing is the numbers around what economists call “youth unemployment.” The U.S. unemployment rate for workers under 25 years old is about 20%.

“Youth unemployment” isn’t just a descriptor used by the Bureau of Labor Statistics. It’s virtually an entire field of study in the economics profession. That’s because in Europe, “youth unemployment” has become part of the permanent landscape, something that somehow never goes away.

Is the U.S. there yet?

[Read more at WSJ]

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  • tonyviner

    I am sick of hearing about the damn kids all the time. If they were that important we would pretend to care about them ALL the time.

  • Anonymous

    How typical of the WSJ. Reaganomics gooooood. Worker protections baaaaad.

    I wonder how anyone can take this Henninger guy seriously. He’s blaming the unemployment levels in our economy on the Obama administration passing health-care and the stimulus package. Is he fucking insane, or just a free-market-loving liar? As dubious as the claim is that Europes social safety nets are the cause of its unemployment woes, at least you can make that argument and not be laughed out of a room.

    The unfettered free market is not the solution to unemployment, it is in fact what caused the financial troubles that leads to unemployment. Maybe Henninger and the WSJ would like to see our youth in coal mines again, and hey just like the Massey mine we can let them run even if there are thousands of safety violations. That would certainly put a dent in our unemployment numbers.

    Disinformation indeed.

  • hypnos

    How typical of the WSJ. Reaganomics gooooood. Worker protections baaaaad.

    I wonder how anyone can take this Henninger guy seriously. He's blaming the unemployment levels in our economy on the Obama administration passing health-care and the stimulus package. Is he fucking insane, or just a free-market-loving liar? As dubious as the claim is that Europes social safety nets are the cause of its unemployment woes, at least you can make that argument and not be laughed out of a room.

    The unfettered free market is not the solution to unemployment, it is in fact what caused the financial troubles that leads to unemployment. Maybe Henninger and the WSJ would like to see our youth in coal mines again, and hey just like the Massey mine we can let them run even if there are thousands of safety violations. That would certainly put a dent in our unemployment numbers.

    Disinformation indeed.

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