Thursday, January 21, 2010

1 million Americans give up on job searches

Long-term unemployment and labor-force dropouts hit record highs

Nearly 1 million unemployed American workers, frustrated with a lack of available jobs, are dropping out of the labor force, Jerome Corsi's Red Alert reports.

Likewise, the number of individuals unemployed for more than 27 weeks dramatically worsened in the first year of the Obama administration. Discouraged workers are not counted in official unemployment statistics.

Long-term unemployment and discouraged job seekers are the untold stories of the deepening unemployment crisis the Obama administration has been unable to solve," Corsi wrote. "The inability of the Obama administration to create jobs is more serious than the 10 percent unemployment number registered in December, once we take into consideration long-term unemployment and discouraged job seekers, categories currently being ignored by the mainstream media in an apparent attempt to prop up the sagging approval ratings of a Democratic president."

The number of long-term unemployed 27 weeks or longer and workers who have dropped out of the labor force due to discouragement has dramatically worsened in the first year of the Obama administration, hitting record numbers in December 2009, according to Bureau of Labor Statistics data.

http://www.wnd.com/index.php?fa=PAGE.view&pageId=122343