The Real Fiscal Cliff: The 4.8 Million Long-Term Unemployed

Today’s alarming financial news is the rise in first-time unemployment claims to 385,000, up 28,000 and also above expectations.  The U.S. Labor Department report shows the labor market is weakening, not that it was anything resembling strong in the first place.  It makes me want to cry, because every piece of news like this makes me even more distraught about the future of the 4.8 million long-term unemployed.

I’ve covered unemployment issues or more than a decade and the future for those who are out of work beyond the normal six months funded by state benefits is very bleak.  These aren’t lazy bums, but desperate people who are financially and emotionally devastated by their situation.

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One comment on “The Real Fiscal Cliff: The 4.8 Million Long-Term Unemployed

  1. It is a crying shame so many people are out of work and can not find a job to support themselves and their families.It is a shame that our tax code and regulations are the most unbussiness friendly.Businesses can not expand thanks to expanding regulations and tax code.When this country starts to wise up and see that China has very little ( if any) regulations and look at how much that country has expanded and prospered.I’m not saying “screw” the enviroment,I’m saying we have WAY too many regulations that jobs can not be created.We need common sense in this country.
    I know,wishful thinking in Obamaville.

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