Deal With The Long-Term Unemployed
by Deacon Blues
The Labor Department reported that April's jobs number came in at a robust 288,000 new jobs created, and an uptick in the jobs previously reported for recent months. The April unemployment rate fell all the way to 6.3%, it's lowest level since September 2008, with most of the jobs losses from the Great Recession now erased.
Yet the real reason for the drop in the unemployment figure wasn't from the 288,000 newly-added jobs, but rather from 806,000 job seekers giving up and exiting the labor force. Long-term unemployment is still one major drag on the economy, with over a third of the unemployed being out of work for 6 months or longer, a figure way too high compared to past recoveries.
Maybe the White House should focus on offering Boehner something to deal with these long-term unemployed. Perhaps in exchange for an extension of the long-term jobless benefits, the White House would support targeted tax credits for business hiring of the long-term unemployed? Make the GOP reject that going into the midterms.
Graphic courtesy of the Center on Budget and Policy Priorities