Tuesday, January 11, 2011

More than Meets the Eye in Terms of New Unemployment Numbers

Though the numbers from last week's unemployment report looked hopeful, there's a far less positive side to what they actually mean. Sure, the number of people seeking unemployment decreased, and logic would seem to indicate this means more people are getting jobs. However, further examination shows that more people simply gave up looking for a job, giving into the hopelessness of finding work.

What's more is that the number of those considered to be "long-term unemployed," or those seeking work for longer than six and a half months, is at 6.4 million -- on the brink of tripling that figure's previous high recorded back in 1948.

While some of those who have dropped out of the applicant pool could be baby-boomers reluctantly embracing retirement or individuals seeking a temporary break from the struggle of looking for work, the numbers do not reflect the picture portrayed initially when the report was released. And though there are positives to be gained, it is still important to remember that many are still struggling.

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