Yep, Obama’s economy is here. Employers are having difficulty hiring because people would rather stay on unemployment than work.
See this article. It’s stark evidence that the unemployment rate goes down when unemployment benefits run out.
Chris Pompeo, vice president of operations for Landscape America in Warren, said he has had about a dozen offers declined. One applicant, who had eight weeks to go until his state unemployment benefits ran out, asked for a deferred start date. “It’s like, you’ve got to be kidding me,” Pompeo said. “It’s frustrating. It’s honestly something I’ve never seen before.”
There are a lot of things we’ll start seeing that we’ve never seen before, now that Obama is here. And little of it’s good.
Obama and the leftist majorities in Congress keep passing extensions of unemployment benefits. Will they do so indefinitely? We seem to be getting the Euro-sclerosis-like structural unemployment where the unemployment rate is so high because government benefits are so lavish. (Note: the word “generous” is normally used there, but when you’re lavish with other people’s money, that’s not generosity. It’s only generous when you give away your own money.)
As in Europe, people choose to be a ward of the state rather than work.
For more on this, see the Nov. 9, 2009 entry below: “More Unemployment Benefits = More Unemployment”.