Chart of the Day: Long-Term Unemployment

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Lots of people have been talking about this for months now, and I don’t have anything new and unusual to add to the conversation. But it’s worth keeping this chart front and center at all times: it’s the number of people who are not just unemployed, but who have been unemployed for at least half a year. The red line is the key one, and it shows that the proportion of long-term unemployed during the current recession is nearly twice as high as it was during 1982, the previous record holder since the Great Depression.

What’s worse is that we can’t expect this to go away quickly. Paul Volcker deliberately created the recession of the early 80s by jacking up interest rates to unprecedented levels, and he dispensed with it just as easily by lowering rates in 1982. That’s not going to happen this time because interest rates are already as low as they can go. At best, we’re going to hit a plateau and then linger there before a slow, fitful recovery that takes years. At worst — well, things will get even worse.

Mass, long-term unemployment is one of the most corrosive things any country can go through. The fact that we’re basically doing nothing about it is not just disgraceful, it’s genuinely dangerous.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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