Unemployment the New Norm, Yahoo Finance, by Jeremy Greenfield, 11/26/11

Unemployment the New Norm, Yahoo Finance, by Jeremy Greenfield, 11/26/11

This article began with reporting that seemed to read at least somewhat journalistically professional. . . However, after reading these two paragraphs, it seemed to me that journalistic integrity and honor would have ethically obligated the editor to have subsequently - and immediately - followed up with a well-sourced counterpoint:


“While Hobijn pegs the natural unemployment rate at about 6.5%, he attributes much of the upward shift to the extension of unemployment benefits and surprisingly slow hiring for the high number of job vacancies, which now number over 3.1 million, according to the Bureau of Labor Statistics. . .

Ironically, extended unemployment benefits and a higher minimum wage -- a reaction to the higher unemployment brought on by the recession -- contribute to a higher natural unemployment rate by encouraging more people to put off working and discouraging employers from hiring minimum wage workers.”


http://finance.yahoo.com/career-work/article/112786/unemployment-new-norm-fins


WW

WTH! R U kidding! I have said from last year that this unemployment era is going to be considered the new norm. Whoops! That's acceptable new norm... 9% is the new standard! In other terms, 15 million out of work is the NEW acceptable norm!!! Only now the churches, and homeless assistance and other means of survival support, are now turning many away and saying sorry! Same attitude as the government! Economy, and tax credits for the rich and cut spending!!! Duh! Take care of your people first....

Lol WW.....think you mean 05/26/11 not 11/26/11.....

That article is just plain sicko. Those corporate bigwigs are lying that there are plenty of jobs & no one to fill them. My guess is they're angling for more H1B visas to bring foreigners over & more tax credits for outsourcing & offshoring of jobs.

It's just a bonus that they get to attack unemployment benefits & minimum-wage laws while they're at it.

Phillymg wrote:Lol WW.....think you mean 05/26/11 not 11/26/11.....

Hi Phillymg,

sorry for the typo - I did submit it at 2am, and was not feeling 100% mentally spry at that moment.

WW

I agree this is a sicko article.


We need a day where all CEOs must work for minimum wage. Any votes on this one? Makes more sense then this article!


Perhaps that would be a good way to annoy these jerks, like they do to us.

Anyone for digging there way to China where the jobs are?