"No, Mr. President, we’re not in this together with corporate America. Corporations are in it to maximize profits and boost CEO salaries, not help the U.S. economy or put people back to work.

With no “healthy increase in demand,” on the horizon and unemployment heading back up, the President has talked more about government-led solutions that would actually create jobs in America. Near the end of his address on Afghanistan, and in a full-throated pitch at a Democratic fundraiser in New York City the next evening, Obama called for investments in education, infrastructure, and clean energy at home.

Democratic leaders in Congress have also started to sharpen their focus on the failure of corporations to create jobs at home. Nancy Pelosi’s reaction to the Majority Leader Eric Cantor’s walking away from budget talks was, “”Yes, we do want to remove tax subsidies for big oil, we want to remove tax breaks for corporations that send jobs overseas… ”"

"Annie’s character in Bridesmaids feels like the timing and progression of her life has gone into a ditch. That the next step in her baking career happened to coincide with the collapse of the mass securitization of bad debt and an over-the-counter credit derivative protection market is really bad luck. But it shouldn’t mean that her ability to launch a new business, to exercise and refine her talents and skills and have her employment give her a proper sense of self and purpose, should be ruined indefinitely. Full employment is the friend of new business owners. It would be great if either of our political parties would emphasize that in a time of 9% unemployment."

"The positive lesson for the US is that we have a lot of scope to give employers incentives to cut hours rather than jobs, including improving and expanding "work-sharing" (part-time unemployment benefit) programs as well as implementing new direct tax credits to firms that expand paid time off (paid sick days, paid family leave, paid vacations, and other measures).

The negative lesson is that focusing on supply-side issues such as training, education, and improved job-matching for the unemployed --as much sense as they make in the long run-- is not likely to get us very far when the economy is at 9 percent unemployment. Denmark does far more than we could ever hope to accomplish along these lines and the unemployment there almost doubled between 2007 and 2010."

"What’s striking, though, is that even in January of 2010, when unemployment was over 10%, deficits received equal mention as unemployment. The media is certainly culpable here, but I’m guessing that their headlines are driven by the political discussion, which since the passage of the stimulus has been entirely warped. Goes to show that our political leaders, and the media by extension, will never give unemployment the attention it deserves."

"I'm not an economist, but we've got five applicants for every single job opening. If you tell me that the best response to that situation is to lay off hundreds of thousands of teachers, I will not accept that this means that you're smarter and more expert than I am. I will instead conclude -- regardless of your prestige or position or years of study -- that you're a moral imbecile. And knowing what I know about your inability to make moral judgments I will have no reason to trust you to make complicated macroeconomic ones."

"But even if we substantially improve education, it won't fully solve the problem. There will still be a need for quality jobs that are not all that dependent upon knowledge based skills. However, it's harder to imagine an emerging set of industries that will provide the large number of quality jobs that we need to replace those lost from industries in decline."

"From Bill at Calculated Risk, an update to his regular comparison of job losses in post-war economic downturns. The severity of the current recession/depression remains the most striking thing, but we are looking awfully trough-like."

"What really makes the current period stand out is the number of people (and percent) that have been unemployed for 27 weeks or more. In the early '80s, the 27 weeks or more unemployed peaked at 2.9 million or 2.6% of the civilian labor force.

In January, there were 6.3 million people unemployed for 27 weeks or more, or 4.1% of the labor force. The number declined slightly in February, but this is much higher than earlier periods."

'“We haven’t seen anything like this before: a really deep recession combined with a really extended period, maybe as much as eight years, all told, of highly elevated unemployment,” Shierholz told me. “We’re about to see a big national experiment on stress.”'

"The blue line is the number of workers unemployed for 27 weeks or more. The red line is the same data as a percent of the civilian workforce.

According to the BLS, there are a record 6.31 million workers who have been unemployed for more than 26 weeks (and still want a job). This is a record 4.1% of the civilian workforce. (note: records started in 1948)."

"In October, 35.6 percent of unemployed persons were jobless for 27 weeks or more...."

"Underneath the usual total unemployment numbers are the reasons an individual is unemployed: You are on temporary layoff; you quit your job; you have reentered the labor market and have yet to find a job; or you are entering the job market for the first time and have yet to find a job. Or, finally, you have been permanently separated from your previous employer, who has no expectation of hiring you back.

The last category is the dominant reason for unemployment at this time. That might not seem surprising, but it actually is. Never, in the six recessions preceding the latest one, did permanent separations account for more than 45 percent of the unemployed. The current percentage stands at 56 percent as of September and appears to be still climbing:..."

"A look at another job market number, Macroblog: ...At the end of August there were estimated to be fewer than 2.4 million job openings, equal to only 1.8 percent of the total filled and unfilled positions—a new record low. This is an especially significant issue given the large number of people who are looking for work. The ratio of the number of unemployed to the number of job openings was greater than 6 in August. In contrast, that ratio was under 1.5 in 2007 and previously peaked at 2.8 in mid-2003, suggesting that finding a job right now is extremely difficult..."

"By the employment-to-population ratio metric, the recession is now twice as deep as any post-1960 recession. At 59.2%, the employment-to-population ratio stands 4.1 percentage points below its December 2006 cyclical high--and 5.5 percentage points below its April 2000 alltime high."

"Reader John O pointed us to a very good post from the Economic Policy Institute which gives a thorough analysis of recent unemployment data and puts it in a broader historical context. Bottom line: it is not pretty. The fixation with looking for a turn in initial jobless claims as a sign of recovery seems to have diverted attention from how deep the unemployment hole is this time around."