It appears that capitalism’s Great Recession has created such long-term unemployment that it is leading to “a crisis of historic proportions,” says the policy director of the National Employment Law Project. (NY Times, 2/21)
Of the 15 million “officially” unemployed, 6.3 million have been out of work for more than six months, the highest total since such numbers have been tracked (1948). It is already double the amount of the previous worst record, in the 1980s.
But that’s only half the story. That 15-million figure doesn’t include another 15 million who can’t find full-time jobs or have given up looking, so the long-term jobless number is far more than 6.3 million.
No wonder the NY Times, the capitalists’ leading mouthpiece, laments that “even a vigorous recovery is likely to leave an enormous number out of work for years.”
Already between the 8.4 million jobs lost in this Great Recession plus another 2.7 million needed just to absorb new entrants into the job market, the economy would require over 11 million new jobs just to get back to when the collapse started in December 2007 (which even then was not full employment). That means “more than 400,000 new jobs a month for three years — wildly in excess of even the most optimistic projections.” (NYT editorial, 3/6)
With all the phony talk of a “recovery” starting (and admittedly a “jobless recovery” at that), even the Times confesses (3/6) that, “The job market may be hitting bottom, but it seems likely to remain mired there.” And the jobs that have been lost are “unlikely to return” — ever.
In effect the Times virtually admits what CHALLENGE has been saying repeatedly; it’s the profit system that is grinding workers down: “Large companies are increasingly owned by institutional investors who crave swift profits,…often achieved by cutting payrolls.” This is exactly the fate that befell the Stella D’Oro workers when an investment company bought the bakery and then sold it when they decided they could make a hefty profit.
Now we can also see the monstrous effects of Clinton’s “welfare reform.” Their rationale for cutting off millions was that it would provide “incentive” for recipients to get jobs. But what happens with a “work-based ‘safety net’ without any work”? More jobless and destitute workers, and not even eligible for unemployment benefits.
So this is what capitalism has brought to the working class, a bottomless pit of unemployment, foreclosed homes, one of four children going to bed hungry. This is even twice as horrific for black, Latino, immigrant and Native American workers, who because of the system’s inherent racist discrimination, suffer twice the jobless rates of white workers.
In the Great Depression of the 1930s, when one-third of the working class was on the street, communists led a national movement of the unemployed and organized the basic industries, winning unemployment insurance, welfare and the 40-hour week. But now we see that, as always under capitalism, its economic crises inevitably reverse those reforms.
Communists in the Progressive Labor Party must take up the mantle to organize masses of workers into an anti-capitalist movement that not only fights this insidious racist unemployment — which will be lasting for years and years — but points out to workers that only the destruction of the profit system can end this hellhole of capitalism, something the old “Communist” Party failed to do. Such a movement can become a “school for communism” whose goal would be a society run by and for workers, without bosses, profits, racism and oil wars, a society in which every worker will have a job and work for the advancement of our class. That’s communism. Join us!