Joblessness and Unemployment

Posted on November 13, 2009 by townsend

• Job woes exacting a toll on family life, By Michael Luo, November 11, 2009, New York Times: “Paul Bachmuth’s 9-year-old daughter, Rebecca, began pulling out strands of her hair over the summer. His older child, Hannah, 12, has become noticeably angrier, more prone to throwing tantrums. Initially, Mr. Bachmuth, 45, did not think his children were terribly affected when he lost his job nearly a year ago. But now he cannot ignore the mounting evidence. ‘I’m starting to think it’s all my fault,’ Mr. Bachmuth said. As the months have worn on, his job search travails have consumed the family, even though the Bachmuths were outwardly holding up on unemployment benefits, their savings and the income from the part-time job held by Mr. Bachmuth’s wife, Amanda. But beneath the surface, they have been a family on the brink. They have watched their children struggle with behavioral issues and a stress-induced disorder. He finally got a job offer last week, but not before the couple began seeing a therapist to save their marriage…”
• Job losses both deep and enduring, especially for the young, By Floyd Norris, November 13, 2009, New York Times: “The rise in unemployment that has occurred in the current recession has been hardest on young workers, while having a smaller effect on older workers than previous downturns. Women have been more likely than men to hold on to their jobs. The overall unemployment rate, which reached 10.2 percent on a seasonally adjusted basis last month, remains below the post-World War II peak of 10.8 percent, reached in late 1982. But the proportion of workers who have been out of work for a long time is higher now than it has ever been since the Great Depression. The persistence of joblessness for so many people – 5.6 million Americans have now been out of work for more than half a year even though they have continued to seek employment – may provide the greatest challenge for the Obama administration if it decides to seek a new economic stimulus program…”