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Monday, 26 May 2014

Was Congress Right to Cut Off Long Term Unemployment Benefits?

"Alan Krueger has a response for people, including top officials at the Federal Reserve, who question his research showing the long-term unemployed have been pushed to the fringes of the job market: More research.

"Using a survey of households conducted by the Census Bureau between May 2008 and July 2013, the Princeton University professor finds only 22% of the people who entered long-term joblessness during the 2008 recession had gotten steady, full-time jobs by the first half of 2013. Mr. Krueger finds 35% dropped out of the labor force during that period, 28% had jobs that either weren't steady or weren't full-time and 14% were still looking for jobs unsuccessfully."*

In this clip from The Young Turks, Ben Mankiewicz and John Iadarola break down the data on the long term unemployed and decide whether critics of expanding unemployment benefits were right.

* Read the rest of the Wall Street Journal blog by Jon Hilsenrath here: http://blogs.wsj.com/economics/2014/0...

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