US Has Gone From Assisting the Unemployed to Paying for Unemployment

Article posted on June 4th, 2015 by WhatAmIMissingHere

Part-time jobs unemployment by Nate Beeler, The Columbus DispatchBy Peter Morici

Scores of prime working age men displaced by construction and manufacturing meltdowns during the Great Recession have left the labor force permanently. Some 7 million men between the ages of 25 and 54 are neither working nor looking for work.

Now, free and subsidized healthcare, food stamps, Social Security disability benefits, and the earned income tax credit for couples with one working spouse are all more easily available but phase down as household incomes rise. That greatly raises the opportunity cost of taking a job for many men.

Simply, we have gone from assisting the unemployed to paying for unemployment.

Hundreds of thousands of recent college graduates, thought to be underemployed, actually may be well placed as cab drivers and baristas. Many studied useless majors in college — businesses hardly need the thousands of international relations experts churned out by second-tier universities.      (my emphasis)

READ all of Peter Morici’s comments from Newsmax here.

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