I highly recommend reading this piece in its entirety at http://online.wsj.com/article/SB10001424127887323998604578565253887893738.html?mod=WSJ_hpp_LEFTTopStories by Ben Cassellman
The recession ended four years ago. But for many job seekers, it hasn’t felt like much of a recovery.
“Once people reach a point where they no longer consider themselves employable…it is very difficult to pull them back,” said Joe Carbone, president of WorkPlace, a Connecticut workforce-development agency that has developed a program targeting the long-term unemployed. “We are losing thousands of people a day. This is like an epidemic.”
Nearly 12 million Americans were unemployed in May, down from a peak of more than 15 million, but still more than four million higher than when the recession began in December 2007. Millions more have given up looking for work and no longer count as unemployed. The share of the population that is working or looking for work stands near a three-decade low.