The long term, non-cyclical unemployment in the US is now structural. Sure employers would like to argue permanent unemployment is the result of workers lacking sufficient training. They whine about not being able to find workers with the right skill sets; they say they cannot find those who are willing to relocate to where jobs are. They actually entertain the argument that workers are lazy and would rather collect food stamps than work.
But is this really true? Is there a ‘supply’ problem when it comes to labor in the US? Is unemployment the result of employers simply lacking a steady supply of well-trained workers? Are US workers lazy and would rather live off the dole? Or is the problem that workers have no money due to low wages and thus there is no ‘demand’ in the economy? No demand means no growth and no growth means less workers.