"If you’re looking for a job right now, your prospects are terrible. There are six times as many Americans seeking work as there are job openings, and the average duration of unemployment — the time the average job-seeker has spent looking for work — is more than six months, the highest level since the 1930s.What Krugman proposes is a job creation program similar to the Works Progress Administration: salaried public service jobs, incentives for employers to hire instead of fire, etc. Kat and I have been rooting for a new W.P.A. for over a year now so naturally I think this is a great idea. The negative effects of unemployment don't disappear when you find a job. We need to be tackling long-term solutions.
You might think, then, that doing something about the employment situation would be a top policy priority. But now that total financial collapse has been averted, all the urgency seems to have vanished from policy discussion, replaced by a strange passivity. There’s a pervasive sense in Washington that nothing more can or should be done, that we should just wait for the economic recovery to trickle down to workers.
This is wrong and unacceptable."
2 years ago