Jobless Could Be Out Of Work For Years More

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Taking the cake for the Most Depressing Employment Story Ever, the New York Times reported Saturday on the idea that millions of Americans could be out of work for years.

More than six million Americans have now been out of work for half a year or more, the largest number since the government began keeping track in 1948, and more than double the next-worst period, in the early 1980s.

The director of the Institute for Research on Poverty at the University of Wisconsin, Madison, says that the more educated are likely to be fine, once the economy recovers a bit: “People with more education and skills will probably figure something out once the economy picks up. It’s the ones with less education and skills: that’s the new poor.”

But where does that leave those educated in a dying field?

Graph: New York Times