Rising Stakes of Job Loss

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This came out last week, but the Economic Policy Institute recently took a look at the unemployment picture in America today and concluded that it was different in both degree and kind from previous recovery periods. In particular, more and more people are kept out of the job market over the long term: one in five of the unemployed have been out of work for six months or more. Meanwhile, women are representing an increasing share of the long-term jobless, far more than in previous recoveries, which means that this also becomes a problem for families—especially those headed by single mothers.

At a certain point, the ravages of unemployment cease to be a pure economic issue and starts becoming a policy issue. After six months, most workers have exhausted their unemployment benefits and start to rack up debt and/or tap into their retirement savings. (Which is why Social Security is still so damn important, even in the modern economy; one might say especially in the modern economy.) EPI recommends, at the bare minimum, an automatic extension of unemployment benefits under certain economic conditions. The longer term challenge, though, will be to figure out why this recovery has lagged so much compared to previous ones; no one seems to have figured that out yet—though Barry Ritholz has offered a variety of potential explanations here.

SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

payment methods

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