by Mike ‘Mish’ Shedlock
Mish Talk
Washington Post writer Matt O’Brien proposes Getting Stuck Without a Job is Mostly a Matter of Bad Luck.
That notion is ridiculous.
While there may be instances of “bad luck”, in general, the employees with the weakest skills were the first to be let go and the last to be rehired.
O’Brien did post some interesting charts about the length and strengths of recessions vs. long term unemployment.