Structural Unemployment As Excuse To Do Nothing...

[jtuck004]

The answer is demand. The question is "How do we get out of our finacial crisis?".

But instead of creating the conditions for jobs, restructing and forgiving some of the tremendous debt load on consumers (HEY - they did it for AIG, why not YOU?) which would free up capital for demand, making the investment community that caused this mess take a haircut which would reduce housing prices to a non-mythical level, maybe employing millions of people who can then start to spend and create new business structures for the 22nd century, our "leaders" are paying taxpayer money to the greedy fools that caused this mess and coming up with new explanations for their own ineptitude - like "structural unemployement".

Clever people, who turn their own responsiblity and lack of action into a personal failing on your part...is the alarm on your bullshit meter screeching at high decibels?

You can go to Naked Capitalism and read all about it here...

The spin-meisters continue to package things that ought to incite outrage in anodyne wrappers in the hope no one will look inside. “The new normal” and “structural unemployment” join the universe inhabited by such gems as “extraordinary rendition” and “pre-emptive strike”.
...
But you can’t say things like “We don’t like you and you suck” to a large swat of the electorate. So, a justification, a narrative was needed...
...
The narrative behind the “structural unemployment” spin goes something like “there really are jobs, but those crappy workers, they don’t have the skills (i.e., as in they didn’t work hard enough at the right stuff earlier in their life) or they are in the wrong location.” We’ve seen the MSM dutifully take up this narrative, and had readers point out that in many cases, the “jobs are going a begging” is due to companies making such lowball pay offers that they are coming up short on takers.
...

This paper shows that a large majority of structural unemployment is the result of underwater mortgages and foreclosures. In addition, when foreclosures are added into the regression alongside SMI, SMI loses some of its value, and when a cross term is added skills loses a bit more. Right now, the story is one of foreclosures.
...
Location: If all of the country’s unemployed workers were to relocate to states with low unemployment, there would still not be enough jobs to go around. There are only 11 states — with a total adult population of about 17 million — where the unemployment rate in June was less than 7.0%. If all the unemployed moved to those states they would nearly double the labor force there.