Tuesday, October 6, 2009

No clue on Unemployment

Unemployment Ignored

I cannot believe how one of the biggest crisis of our time, 10%, unemployment, is being ignored. Black unemployment is around 15%. Underemployment is at 17%. Youth unemployment is around 40%.

I cannot find a more basic, long-term problem in a democratic, capitalist society.

Unemployment is the dark, down side of our society.

Our brightest minds have no clue about what to do.

Even the NYT, which I will give credit for writing about the issue, is offering little in the way of suggestions. Here The editorial simply issues a generic call for leadership. The propose a job creation program or tax credits for hiring. Or, get this, "Or surprise us". In an editorial, that is pretty clueless.

Finally, Bob Herbert, wrote a piece asking if Obama understands the jobs issue. Here.

The rest of the financial media is almost complete silent on unemployment. Shame on Business Week, Bloomberg, Wall Street Journal, Forbes, and Fortune. Talk about being in the back pocket of business. I guess unemployment is not something their demographics care about.

I will give some credit to USA Today which is consistenly covering the issue.

I do have to give some credit

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