The Intangibles of Holding a Job

by WIZ

Bloomberg describes job creation options, the intangible benefits of possessing a job, and the above chart that graphs the steep rise in those unemployed for longer than six months. The piece is worth a full read:

Long-term joblessness is reaching epic proportions. As of July, about 6.2 million job-seekers, or 4 percent of the U.S. labor force, had been out of work for more than six months — close to the highest level in more than six decades (see chart).

The skills of the long-term unemployed are atrophying and their motivation waning, making them increasingly likely to end up as wards of the state, collecting various forms of government assistance.

The intangible benefits of employment can also have a quantifiable value: Economists David Blanchflower and Andrew Oswald, for example, have estimated that the increased happiness associated with having a job is worth about an extra $60,000 a year to the individual.

For me to find a job near full time in terms of hours from a non-profit all within a nation in a recession baffles me. In the end, I am very thankful. I have been employed and felt unemployed – that feeling of hopelessness that things will not change. A job really does bring a degree of purpose and connection to others.

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