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Giving Up on the Long-Term Unemployed Isn't Just Wrong. It's Dangerous.


Business  (tags: long term unemployed, society, politics, americans, economy, labor, usa )

Cal
- 279 days ago - theweek.com
The potential benefits of bolstering the labor market far outweigh the potential downsides



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Comments

Past Member (0)
Friday March 14, 2014, 3:37 am
Too many politicians would have to admit they didn't fix a problem, the longer goes on the less chance it will be addressed.
 

Past Member (0)
Friday March 14, 2014, 4:57 am
Noted, ta Cal.
 

Rhonda B. (114)
Friday March 14, 2014, 7:13 am
Noted. Thank you Cal.
 

pam w. (191)
Friday March 14, 2014, 7:38 am
SIGH!
 

Winn Adams (203)
Friday March 14, 2014, 12:25 pm
Absolutely
 

Joanne Dixon (40)
Friday March 14, 2014, 1:08 pm
If anyone can read this, could you let me know what it says? All I get is "thisweek.com is not responding."
 

Birgit W. (152)
Friday March 14, 2014, 1:45 pm
Where did compassion go?
 

Patsy Olive (0)
Friday March 14, 2014, 6:27 pm
noted and signed & tweeted.
 

Kathleen R. (138)
Friday March 14, 2014, 7:43 pm
noted
 

Stephen Brian (23)
Friday March 14, 2014, 8:11 pm
It absolutely is dangerous to give up on the long-term unemployed, but the threat of inflation is also something entirely real. Current inflation-rates are low, but the response of inflation to employment is not linear. There is in this, like in so many other things, a threshold-response. Once banks realize that threshold has been passed, there will likely be a sudden and drastic response. The objective of doing things like raising rates is to reduce the impact of that sudden response.

The fear of a "double-dip" a few years ago came from the fact that under the policies in place at the time, had recovery really been as good as reported, that threshold would have been passed and the impact of the sudden response could easily have started a whole new recession, especially with the delay between changes in private lending-rates and the government's and fed's response. For an idea of the impact of that delay, consider this: Canada was judged to be the best place in the world to invest, well above the U.S., for some time PM Harper correctly predicted when the rates would bottom out and had the government's policies change on the correct week. Now imagine a reaction rather than a prediction, and how long it takes to put anything through U.S. Congress, and think of how far the other way things could go if preparations, like raised rates, are not made in advance.

All that said, long-term unemployed Americans may be the greatest unused asset ready to drive the U.S. economy.
 

Alfred Donovan (46)
Saturday March 15, 2014, 2:03 am
It's dangerous to even think of giving up on the unemployed remember the old adage " that idle hands make mischief ".
 

Panchali Yapa (14)
Saturday March 15, 2014, 4:40 am
Thank you
 

A F. (132)
Saturday March 15, 2014, 3:37 pm
thanks
 
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