Record Breaker: Long-Term Unemployment Over 40%

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Top Tier Gear USA

Not only are jobs being destroyed in America on a daily basis, but once those jobs are lost it is becoming harder and harder to create new ones. The official unemployment rate hovers around 8%, but it doesn’t tell the whole story.

If you lose your job, you’re going to be waiting a long, long time before you find a new one. So says a new report from the Bureau of Labor and Statistics:

The long-term unemployment rate rose to 40.6 percent in October, up from September’s level of 40.1 percent of the total unemployed, according to a report from the Bureau of Labor Statistics Friday.

Long-term unemployment is unemployment lasting for 27 consecutive weeks or longer, according to BLS.

The government reported that just over 5 million people were unemployed for more than six months – 27 weeks – rising from September’s level of 4.8 million.

Those official numbers are, of course, padded. Calculating unemployment in the same manner it was done prior to 1994, we’d have official unemployment statistics of closer to 22% as outlined by economist John Williams.

These are massive numbers that affect tens of millions of Americans who are, by all reasonable assessments, living in a modern day depression.

Jobs are being lost daily. They are not coming back.

Bottom line: there can be no recovery until people get back to work, and this isn’t going to happen anytime soon.

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  • GrandpaSpeaks

    It used to be you owed your soul to the company store. Now its you owe your soul to the country’s dole. Now about those CPI figures reporting the imaginary inflation rate. If you really want to see manipulation, take these two figures together and compare them to reality. The CPI takes out volitile pricing in food and energy. Nobody needs that stuff, right? The unemployment rate and reported CPI are just fiction. Call their bluff, hold them to account. Remember Orwell’s moral for writing 1984. “If you want a picture of the future, imagine a boot crushing a human head, forever. Don’t let that happen, its up to you”. The little stomps are getting bigger every day.

  • OldGuy

    Anyone that is actually paying attention knows the numbers are BS. The problem is so many people are not paying attention. I WAS one of them.

    I had worked -successfully- continuously for over 30 years. I didn’t believe there were so many unemployed while I was getting a paycheck. I never really gave it any thought. I drank the coolaid. But in late 2009 my eyes were opened rather harshly. My employer was bought by a foreign entity and then immediately 25% of the long term employees were laid off. OH JOY!!! I have been unemployed for over 2 years with no hope for future work at this time. Everyone knows someone unemployed today. If you don’t then you are sheltered or lying.

    To all those saying anyone can find a job, I issue this challenge. With no preplanning or notice (Surprise!!!) ask your current employer to lay you off. Take a week and relax – you know, because there are so many jobs out there and you were planning a vacation anyway. Start job hunting first thing the week after. Good Luck. I don’t care what background you have or education. Unless you already have something lined up, you will look long and hard.

    There are very few professions that are not affected by the economy. If you are part of that minority I applaud you. The rest of us are screwed for the time being and the government lying about it helps no one. Trust is now a very dirty word to me. I do NOT trust any employer or government agency and likely will never again in this life time.

    I am disgusted by our current political choices. All I hear are lies and excuses. The problem is so massive that neither of the tools spending $$,$$$,$$$’s to be the next POTUS will do a thing to fix the problems. They can’t fix this economy anymore than they can stop a volcano. It has got to crash – completely – to reset the system. Unfortunately this will destroy 80% of what we now have.

    All I can hope for is that those remaining will rememeber and not repeat the process of failure – again.

    • wisefool

      Most people fail (or choose to fail) to realize what is really driving it. Crashing the system (literally by slowly making criminal activity nonpunishable) is all part of the plan to erect their luciferian new world order from the ashes. Order out of chaos. Rise of the pheonix (as demonistrated in the 2012 olympics closing ceremony), age of aquarius. It’s all tied together. If the days don’t get cut short, no flesh will survive.

  • GrandpaSpeaks

    My sympathys OldGuy, the boot seems to have stomped you pretty hard. I agree with everything you say but I do not applaud those professions that are immune as well as what new jobs are actually being produced. They are related to the police state or socio-engineering and control. I hope as well as you however, if we do not now heed the wisdom of our founding fathers who warned us and lean upon the constitution now, when will we? OldGuy, T. Jefferson made a quip once “when you reach the end of your rope, tie a knot in it and hang on. Hang in there buddy.

  • hey wait obama said its getting better,now obama wouldnt lie.
    if you dont vote for obama so he can keep up the job hes doing,your prejudice against black people,obama said that also and the holder guy with fast and furious with the gun running,people just get on him because there prejudice not because hes doing illegal things,and just because obama watched those people die in benghazi thats no reason to not vote for obama and just because he screwed up america,you are just not voting because your prejudice,thats what every obama supporter told me and i know they cant be lieing

  • Lowtolerance

    I’m one of those guys in my 40’s who worked his butt off from the the shop floor at the age of fifteen to management in a manufacturing company. When they said I needed more education, I went to school at night. When a job opened up that was a challenge, I took it. Now I’m in my “earning years” and I lost my job Sept. 14th after our largest customer (sounds a lot like Craparola) moved the last of the business we did for them to Mexico. There are no jobs for guys like me. Worst part is, I know I’m not alone. There are millions of us. We used to be respected.

    Woohoo, now I get to start over at the bottom. You gotta be f’ing kidding me. What kind of country thinks they can produce nothing? I’m so biased now, everywhere I go I feel like I’m surrounded by sheep. But I only think of them as traitors.

  • Correct.

    Excellent, fearless reportage. Thank you very much sir.

  • The problem is top executives keep recieving larger salaries as do failed bankers. Costs keep skyrocketing. But what do they care, they can keep getting million dollar raises.
    Wait until the health insurance tax, you think you have nothing now?

  • JR

    The fix is in as ballots will be counted by Obama’s benefactor George Soros and his firm in Spain. Its 4 more years of the same bull.

  • It will not be 4 years of the same but 4 years much worse. Money is being stolen from us to put us down to bottom feeder. They want us all into cities and ignored like the hurricane and foreclosure victims. They will pretend they are trying to help.

  • Bear

    Folks, I don’t think we have more years. My hunch is that the (economic) music stops sometime before the end of Obama’s second term. The irony is that the other politicians who are made of the same stuff he is, will blame him for the mess. He is not blameless, but neither is he solely responsible. Nearly all of the folks in DC have had a hand in creating this mess. But enough of that.

    What actually worries me more, is what the feds will do when things start to fall apart. Every president since Reagan has used Executive Orders to create laws that give the office of the president wide sweeping powers. Both Dems and Repubs have done this – liberal or conservative hasn’t mattered.

    So what would Obama do to quell unrest from economic disaster?

  • Harvey1

    It will not be four more years! The die has been cast and the dammocraps will always win because of some many people that have been bought and paid for with “entitlements” that are unconstitutional. If we were able to elect a competent person as president he might be able to change some things but, the people that voted Odumba in two times are beyond fixing. We are almost on our own and will have to defend our lives and property against the lowlifes. When things get extremely bad maybe even our own neighbors will come to take whatever they need to stay alive. Be prepared to shoot to kill or be killed will be the norm of the day real soon.