Unemployment

This is the third column in a series by Bruce Jentleson, Professor at Duke University, and Jay Pelosky, Principal of J2Z Advisory. It originally appeared on the Huffington Post.

The second season of The Walking Dead premiered last week to ratings high enough to raise William Seabrook—the journalist who imported zombies to the United States with the 1929 novel

Occupy Wall Street is a carnival. Both detractors and supporters say so. The most amusing part of the show is watching the rush to join it. When Deepak Chopra and Suze Orman endorse the cause, you have to wonder about its revolutionary bona fides. Democrats have also flung themselves in the direction of Zuccotti Park—but in their pursuit of the movement they may damage themselves and hinder the protests’ potential to do tangible good.

Notwithstanding repeated attempts at monetary and fiscal stimulus since 2009, the United States remains mired in what is by far its worst economic slump since that of the 1930s.¹  More than 25 million working-age Americans remain unemployed or underemployed, the employment-to-population ratio lingers at an historic low of 58.3 percent,² business investment continues at historically weak levels, and consumption expenditure remains weighed down by massive private sector debt overhang left by the bursting of the housing and credit bubble a bit over three years ago.

Yesterday, I had the opportunity to discuss the recent poverty and income numbers from Census on WNYC's Brian Lehrer Show.

This is the second column in a series by Bruce Jentleson, Professor at Duke University, and Jay Pelosky, Principal of J2Z Advisory. It originally appeared on the Huffington Post.

Is the American Dream of opportunity and increasing prosperity out of reach for the average American worker? What is happening to the American middle class? If the labor market ‘polarizes’ into low- and high-income jobs, what does this mean for continuing inequality in America? What does it mean for the American social contract, and the American Dream?

Six months ago, 42-year-old Michelle thought her life was finally turning around. She had conquered her addiction and been sober for four years. She was paying off old college debt. Her daughter and grandson were staying with her and, despite battling dyslexia, she had been on her job as an administrative assistant for three years, a job she just knew would help her get to the next level of her career.

"The job was starting to open up doors for me," said the District of Columbia resident. "I felt like it was an opportunity to turn my life around. I was feeling really positive."

In putting forth his jobs program, President Obama faced a difficult dilemma: propose a program that could gain Republican support or a more ambitious program that would actually get the economy back on a path of recovery and job creation.

In today's Huffington Post, Bruce Jentleson, a policy wonk, and Jay Pelosky, a seasoned global investor, argue that the public and private sectors in the United States must cooperate if the country is to "revitalize domestically and compete globally."