Krampus comes a little late this year

1.3 million unemployed need punishing.

Economists expect that the end of the emergency jobless benefits will, surprisingly, lead to a sharp drop in the unemployment rate, by as much as 0.5 percentage points.

That is in part because the loss of benefits might spur some workers to intensify their job search, or accept an offer they might have turned down. 

Since her federal benefits expired, Jamie Young, a library scientist living in Portland, Ore., has accepted a part-time job, taking a large reduction in her income. “It’s embarrassing for me,” she said. “I dread going to parties or social functions and having people ask me what I do.” Her unemployment has also spurred her to donate her eggs for $6,000 in compensation. 

But the unemployment rate will primarily drop as workers, especially older workers, drop out of the labor force. Those receiving unemployment benefits are required to demonstrate that they are actively looking and applying for jobs. Without those benefits, and requirements, economists said, many might give up.

It's not a great idea to get too wrapped up in the anecdotal nuggets stories like this tend to lean on. And I get that the point here is to make the story relatable for the Times' upper middle class readership. But kudos to them anyway for showing us a web designer, a medical lab manager, and a librarian here among the long-term unemployed.   These are precisely the "knowledge-based industry" type workers who tend to think such things really aren't their problem.

This, of course, doesn't stop such persons from whining when the wake-up call comes.

NEW ORLEANS —Eight former employees of The Times-Picayune have sued the newspaper and parent Advance Publications Inc., alleging their layoffs violated a longstanding "job security pledge" and age discrimination laws.

The plaintiffs were 46 to 59 years old when they lost jobs ranging from warehouse worker to reporter. Suits filed last week in Orleans Parish Civil District Court claim they either were not allowed to apply or applied unsuccessfully for lower-paid replacement jobs.

Times-Picayune publisher Ricky Mathews did not immediately respond to a request for comment.

All eight plaintiffs said they relied on a longstanding company pledge not to fire non-union workers because of economic or technological changes.

It's amazing how credulous  professional journalists become when their employer promises them they don't need a union or any other protections beyond a "company pledge."  After all, they're special. They have talent. They jumped through all the right hoops. Aren't they in The Club, now? 



It sucks to wake up and suddenly find out that, despite all the accolades and attaboys, you're only worth as much on the open market as your ovaries are. You'd think eventually, these kids, with all those brains diplomas they're carrying around, would get wise.  But that's not likely as long they're able to flatter themselves into believing they're on the side of St. Rand charged with whipping all the "moochers" into shape.

Saint Ayn Rand visits the day after Christmas! from MarkFiore on Vimeo.