Holiday Pall: Joblessness Crisis Intensifies

black unemployment

Carl Bloice: The average period of unemployment now exceeds 26 weeks, well above the previous peak in July 1983 of just 21.2 weeks. This is critical because the longer that people of any age are out of work, the less likely they are to find another job.

Looking Beyond Election Day

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Robert Reich: Political elites are worried about thunder on the right and the left, but they show scant understanding of what these growing anti-establishment forces signify. Meanwhile, the nation drifts.

Obama’s Bold Jobs Bill (Maybe)

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Robert Reich: A bold jobs plan is also good politics. With more than 25 million Americans looking for full-time jobs, the wages of people with jobs falling, and an economy on the verge of a double dip, the President has to come out fighting on the side of average people.

Republican Double-Dip: What Must Be Done

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Robert Reich: Now that we’re slouching toward a double-dip recession, the only hope is voters will tell their members of Congress to stop obsessing about future budget deficits and get to work on the real crisis of unemployment, falling wages, and no growth.

Lost Decade?

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John Peeler: One of the most striking features of our current global economic morass is that many Third World economies are weathering the crisis rather well, while the supposed leaders of the world economy (the United States, the European Union, the Japanese) are in deep trouble that looks to get deeper.

The Rich Are Destroying the Economy

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Shamus Cooke: Because both parties simply threw money at the banks and hedge funds instead of punishing them, a condition of “moral hazard” was created, meaning, that banks would assume another bailout would come their way if they destroyed the economy again — too big too fail, remember?

Where Have All the Jobs Gone?

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Judith Stein: If President Obama wants the United States to manufacture again, he must change foreign and domestic priorities. The United States is more committed to maintaining its open market than to providing jobs for Americans.

Can Krugmanomics Be Saved?

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Steven Hill: So according to Krugmanomics, taking on too much debt is not the problem – it’s not being able to pay the debt that is the problem. And Krugman’s solution, apparently, is to be able to depreciate your currency and/or default on your debts, leaving the creditors holding the bag.

The Jobs Report, and America’s Two Economies

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Robert Reich: With corporate profits are through the roof, the Dow is flirting with 12,000, Wall Street paychecks are fat again, and big corporations are sitting on more than $1 trillion in cash, you’d expect jobs be coming back. But you’d be wrong.

The Forgotten Jobless and Our Future

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Mark Vorpahl: As in the 1930s, today we must organize in a way that creates unity between the employed and unemployed. To start, we can organize the largest possible union-led demonstrations to realize this unity in the streets.

Who Is Behind the Deficit Crisis

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Shamus Cooke: Unless labor and community groups massively mobilize working people in fighting for a pro-worker solution to the deficit crisis, austerity measures — like reducing Social Security and Medicare — will be forced upon us.

Meg Whitman, Job Killer

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Craig Williams: The countless ads by Whitman in the current California gubernatorial race lead most people to believe that she’s been creating lots of jobs. But when you take a close look at what her company EBAY actually does, on balance she may well be the jobs killer.

The Fed’s New Bubble (Masquerading as a Jobs Program)

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Robert Reich: The latest jobs bill coming out of Washington isn’t really a bill at all. It’s the Fed’s attempt to keep long-term interest rates low by pumping even more money into the economy (“quantiative easing” in Fed-speak).

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