February 13, 2010 7:25 AM

They get the gold mine...and we get the shaft

It's truly been a tale of two unemployment crises. Though the national unemployment rate dipped slightly in January to 9.7 percent, a new study suggests that not only have low-income workers been the hardest hit by the jobs crisis -- but, shockingly, there has been "no labor market recession for America's affluent.".... The study from Andrew Sum, Ishwar Khatiwada and Sheila Palma at Northeastern University's Center for Labor Market Studies suggests that the unemployment problem is largely a problem for low-wage workers (hat tip to the Curious Capitalist).

What if we had a recover and realized that the only people benefiting are those least in need of it? What if the people reaping the benefits of a recovery were those who were well off to begin with and suffered the least? What if we actually entered into a jobless recovery? Is that even possible? Well, apparently so. It appears that those struggling the most are the ones benefiting the least from this "recovery". Those who never have to worry about where their next Big Mac is coming are the ones being lifted by a "jobless recovery".

I've been through numerous recessions in my lifetime, but I've never seen or experienced anything so all-pervasive, so cruel, and so all-encompassing as this one. This is probably as close as our generation will ever get to The Great Depression, and that's a good thing. Still, what disturbs me so much about this recession is the way that the pain and suffering have been so unevenly distributed. Sadly, but not surprisingly, government and entrenched interests have conspired to protect the interested of the moneyed classes has helped to cement the divide that eight years of Bushonomics helped to exacerbate. The modern-day definition of the Golden Rule: He who has the gold makes the rules.

This recession has laid bare the inequities that divides the classes in our society. Government should be using it's moral authority to assist those on the lower end of the economic scale. Instead, it continues to act as if it's primary responsibility is to smooth the way for the moneyed classes to create even more wealth for themselves. In so doing, entire communities are dying on the vine as families, industries, and ways of life fade away into the ash heap of history. America may well, be dying from the bottom up, but government seems largely content to fiddle while Rome burns.

Don'tcha just LOVE capitalism??

The Great Recession may be over, but this era of high joblessness is probably just beginning. Before it ends, it will likely change the life course and character of a generation of young adults. It will leave an indelible imprint on many blue-collar men. It could cripple marriage as an institution in many communities. It may already be plunging many inner cities into a despair not seen for decades. Ultimately, it is likely to warp our politics, our culture, and the character of our society for years to come.

The issue of whether "The Great Recession" is over is something that I suppose ultimately depends on one's vantage point. Those of us out of work (and granted, it's only been a couple of weeks for me) are still wondering when things will turn around. There's no recovery if you're not generating income, if you're not putting food on your table. Economists can throw numbers around all they choose, but the reality where the rubber meets the road is much simpler and less nuanced. If you have a job, we're in a recovery; if you don't we're not.

I've met numerous people over the past year who have been out of work for extended periods of time, some for close to a full year. While I admire the impressive optimism that these folks have determined they would live by, being out of work is stressful. Being out of work for an extended period of time has got to be a significant stressor beyond the normal questions of how to feed the bulldog. I never thought I'd see the day in my lifetime when good and decent people are passed by in this economy, but that appears to be what's taking place.

If you were fortunate enough to be born into something approaching wealth and privilege, chances are that whatever pain you're feeling pales in comparison to the unwashed masses. There is real suffering being experience by real, middle-class people. If you listen to those we've elected to represent us, you'd probably find yourself wondering if anyone gets it. The answer would clearly seem to be "No".

When we eventually come out of this, and we will, the world around us will be a much different place before Bushonomics destroyed the landscape around us. My question is how we will care for one another...because it appears that government just doesn't get, and it's unlikely they ever will. It makes me wonder what sort of "Great Depression" stories we'll be telling our grandchildren.

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This page contains a single entry by Jack Cluth published on February 13, 2010 7:25 AM.

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