The jobless recovery was discussed on the March 5, 2010, broadcast of The Takeaway. Lakshan Achuthan, managing director of Economic Cycle Research Institute , a market analysis company, tells a tale of two economic Americas. Contrary to popular belief, the current recession has not been all that bad for many Americans. Unfortunately, the other 40 percent of unemployed fall into what Lakshman calls the “long term unemployed;” and he adds that their plight may not be over any time soon.
Achuthan comments that the Jobs Package which offers a payroll tax reduction incentive to employers will not address the problem of the long term unemployed as employers will only accelerate hiring that is already on the table.
