REUTERS/Robert Galbraith - Ester Dela Cruz, laid off nine months ago from her job as an elderly care worker, searches for employment at a jobs center in San Francisco, California February 4, 2010.
What Do Today’s Jobs Numbers Tell Us? (Hint: It’s Not What You Think.)
December 6, 2013,
Friday’s jobs numbers provide a reminder of the continued challenges facing Americans seeking work in today’s bi-polar recovery. While the Dow hit an all-time high last month, over 10 million Americans remain out of work – and 37 percent of them have been looking for a job for six or more months. One obvious policy implication is to extend federal unemployment benefits, which are scheduled to expire for 1.3 million jobless workers a few days after Christmas. Elisabeth Jacobs says the less obvious implications of the continued challenges facing the labor market is the need to get serious about job training policy, an area where federal policy remains outdated and ill-equipped to meet the challenges of the contemporary economic climate.