GBFan
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Lost in the cheering over from President Obama’s hype section over last Friday’s jobs
report was a major factor: the millions of unemployed on the federal disability rolls. If we added them, plus those who have given up looking for work, then April’s unemployment numbers don’t look so bright – a shameful prognosis in the sixth year of the Obama administration.
First, let’s look at how many people who’ve given up looking for work. The Department of Labor’s Bureau of Labor Statistics has a nice euphemism for them; they’re called “discouraged workers.” In Friday’s BLS monthly report for April 2014, the agency estimated the number of discouraged workers at 783,000, and stated this figure was unchanged from a year ago. BLS defines a discouraged person as wanting and ready for work, but has given up searching for a job because they believe no jobs are available.
Social Security’s statistics add another piece to the unemployed population puzzle.
First, from 2009 through 2013, 11.2 million people have applied for Social Security Disability Insurance (SSDI) benefits (available to people with sufficient work history and their families). Some of these applications involve spouses and disabled children, but most involve workers.
According to the Social Security Administration (SSA), as of March 2014, about nine million workers were receiving SSDI benefits. The basic factor in disability benefits decisions is whether or not the worker has a disabling condition which prevents the person from working. However, other significant factors are involved.
Many workers applying for SSDI are age 50 or over, as the agency’s regulations state that workers below age 50 are more likely to return to work, while the over-50s are less likely. Further, if the worker is 55 or older, the agency’s rules indicate he/she is of “advanced age” and even less likely to return to work. The same rules increase the odds of not returning to work if the applicant is age 60 or older (as age 62 is the first year a worker can apply for early Social Security retirement benefits). Bottom line: if you’re age 50 or older, your chances of being approved for benefits is higher and will increase.
Read more: http://dailycaller.com/2014/05/07/o...ity-disability-insurance-rolls/#ixzz314cUkLXs
report was a major factor: the millions of unemployed on the federal disability rolls. If we added them, plus those who have given up looking for work, then April’s unemployment numbers don’t look so bright – a shameful prognosis in the sixth year of the Obama administration.First, let’s look at how many people who’ve given up looking for work. The Department of Labor’s Bureau of Labor Statistics has a nice euphemism for them; they’re called “discouraged workers.” In Friday’s BLS monthly report for April 2014, the agency estimated the number of discouraged workers at 783,000, and stated this figure was unchanged from a year ago. BLS defines a discouraged person as wanting and ready for work, but has given up searching for a job because they believe no jobs are available.
Social Security’s statistics add another piece to the unemployed population puzzle.
First, from 2009 through 2013, 11.2 million people have applied for Social Security Disability Insurance (SSDI) benefits (available to people with sufficient work history and their families). Some of these applications involve spouses and disabled children, but most involve workers.
According to the Social Security Administration (SSA), as of March 2014, about nine million workers were receiving SSDI benefits. The basic factor in disability benefits decisions is whether or not the worker has a disabling condition which prevents the person from working. However, other significant factors are involved.
Many workers applying for SSDI are age 50 or over, as the agency’s regulations state that workers below age 50 are more likely to return to work, while the over-50s are less likely. Further, if the worker is 55 or older, the agency’s rules indicate he/she is of “advanced age” and even less likely to return to work. The same rules increase the odds of not returning to work if the applicant is age 60 or older (as age 62 is the first year a worker can apply for early Social Security retirement benefits). Bottom line: if you’re age 50 or older, your chances of being approved for benefits is higher and will increase.
Read more: http://dailycaller.com/2014/05/07/o...ity-disability-insurance-rolls/#ixzz314cUkLXs
