NYT: The New Poor – Millions of Unemployed Face Years Without Jobs

NYT: The New Poor – Millions of Unemployed Face Years Without Jobs
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

“…Economists fear that the nascent recovery will leave more people behind than in past recessions, failing to create jobs in sufficient numbers to absorb the record-setting ranks of the long-term unemployed.
Call them the new poor: people long accustomed to the comforts of middle-class life who are now relying on public assistance for the first time in their lives — potentially for years to come.
Yet the social safety net is already showing severe strains. Roughly 2.7 million jobless people will lose their unemployment check before the end of April unless Congress approves the Obama administration’s proposal to extend the payments, according to the Labor Department…”

Read the Full New York Times Article and Think.
http://www.nytimes.com/2010/02/21/business/economy/21unemployed.html?em