(no subject)
"But statistics show that many unemployed people, including those not receiving benefits, are simply giving up their job searches. One requirement for receiving unemployment benefits is that an individual actively search for work, yet people are continuing to forgo benefits to drop out of the labor market.
The unemployed who stop looking for work become classified as 'discouraged,' and the number of discouraged workers continues to grow. And these discouraged workers are an added twist to the nation's unemployment problem: Discouraged workers are no longer considered unemployed, which is part of why the 9.5 percent rate of unemployment understates our current crisis. It's also one of the reasons the unemployment rate dropped in June from 9.7 to 9.5 percent. If you add the 1.2 million "discouraged" workers to the 14.6 million unemployed, you have 15.8 million out-of-work Americans.
So when will it end? Estimates vary, but the Federal Reserve says that unless job growth rates improve, it will take five years for the unemployment rate to return to pre-crisis levels."
The unemployed who stop looking for work become classified as 'discouraged,' and the number of discouraged workers continues to grow. And these discouraged workers are an added twist to the nation's unemployment problem: Discouraged workers are no longer considered unemployed, which is part of why the 9.5 percent rate of unemployment understates our current crisis. It's also one of the reasons the unemployment rate dropped in June from 9.7 to 9.5 percent. If you add the 1.2 million "discouraged" workers to the 14.6 million unemployed, you have 15.8 million out-of-work Americans.
So when will it end? Estimates vary, but the Federal Reserve says that unless job growth rates improve, it will take five years for the unemployment rate to return to pre-crisis levels."