Friday, September 7, 2012 You might have heard that unemployment fell in August only because armies of the unemployed are despairing of finding work. The reality is more complicated -- but it's true enough that somebody should do something about it.
There's no doubt the August jobs report was not great. The economy isn't producing enough jobs to bring unemployment down quickly. The unemployment rate dropped to 8.1 percent in August from 8.3 percent, but not because a lot of people were finding jobs. The number of employed people actually fell by 119,000. BLOG POSTS  | Mohamed A. El-Erian: What Today's Jobs Report Tells Us
Notwithstanding citizens dropping out of the labor force, 5 million Americans were classified in August as "long-term unemployed." Meanwhile, teenage joblessness rose to over 24% -- an alarming level given the risk that out of work youth face in going from being unemployed to being unemployable. As hard as Ben Bernanke and his Fed colleagues try -- and they have been trying very hard, taking monetary policy ever deeper into unfamiliar/experimental territory -- the institution does not have the proper tools to deal with our unemployment crisis. The bottom line is a simple one. It should concern us all as citizens and parents. And it is worth repeating over and over again: If Congress is not careful, these trends will further increase an already-material risk that, for the first time in a very long time, our children's generation may be worse off than that of their parents. |  | Adam Levin: What's in Your Wallet? Hopefully Your Share of the National Mortgage Settlement
Hell has frozen over! After years of lawsuits and investigations by federal and state law enforcement agencies mortgage servicers are finally being forced to repay some of the billions of dollars they stole from American consumers. Unfortunately, the timing couldn't be worse. |  | Marjorie Kelly: Let's Call Mitt's Brand of Business What It Is: Extractive
Setting aside the arcane details of the tax-avoidance tactics in question, it's worth pausing to note what an extraordinary view we're seeing in this election of a particular way of doing business. |  | Jared Bernstein: August Jobs Report, First Impressions (Update)
After two weeks of lofty speeches about vision, family, who gets it and who doesn't, there's nothing like a monthly jobs report to bring you back to the reality of the economic moment. |  | Heidi Golledge: Hiring Companies and Unemployed Job Seekers Both Need to Adapt
Regardless of where your politics fall, it's hard not to agree that Americans should work to bridge the gap between millions of open jobs and the nation's August unemployment rate of 8.1 percent. | | MOST POPULAR ON HUFFINGTONPOST.COM |
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