Fri, Aug 29, 2014, 12:44 AM EDT - U.S. Markets open in 8 hrs 46 mins

Recent

% | $
Quotes you view appear here for quick access.

iShares TIPS Bond Message Board

  • jshaef1 jshaef1 Oct 30, 2012 9:04 AM Flag

    "disability profession"

    One reason work now is neither a duty nor a necessity is the gaming — defrauding, really — of disability entitlements. In 1960, an average of 455,000 workers were receiving disability payments; in 2011, 8.6 million were — more than four times the number of persons receiving basic welfare benefits under Temporary Assistance for Needy Families. Nearly half of the 8.6 million were “disabled” because of “mood disorders” or ailments of the “musculoskeletal system and the connective tissue.” It is, says Eberstadt, essentially impossible to disprove a person’s claim to be suffering from sad feelings or back pain.
    “In 1960,” Eberstadt says, “roughly 134 Americans were engaged in gainful employment for every officially disabled worker; by December 2010 there were just over 16.” This, in spite of the fact that public health had improved much, and automation and the growth of the service/information economy had made work less physically demanding. Eberstadt says collecting disability is an increasingly important American “profession.”
    For every 100 industrial workers in December 2010, there were 73 “workers” receiving disability payments. Between January 2010 and December 2011, the U.S. economy created 1.73 million nonfarm jobs — but almost half as many (790,000) workers became disability recipients. This trend is not a Great Recession phenomenon: In the 15 years ending in December 2011, the United States added 8.8 million nonfarm private sector jobs — and 4.1 million workers on disability rolls. ***George Wills in the Wash Post 10-26-12

    Disabled workers have increased from 7/1/2010 to 10/5/2012 by 2,776,000

    Unemployed workers as narrowly defined by BLS has decreased between the same dates by 2,521,000.

    Stats provided by the Confounded Interest blog.

    Behold the wonderous new American productivity explosion, or is the birth of the new greatest "profession"?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
 
TIP
115.36+0.18(+0.16%)Aug 28 4:00 PMEDT

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.