from Bloomberg News. The ruling class loves recessions/depressions like this.
The 6.8 million Americans out of work for 27 weeks or longer -- a record 46 percent of all the unemployed -- are providing U.S. companies with an eager, skilled and cheap labor pool.
The Washington Post finds many lawmakers (representatives sponsored by corporations) in agreement to keep workers from getting extended unemployment benefits:
Congress's inaction has been accompanied by a growing sentiment among lawmakers that long-term unemployment benefits create a disincentive for the jobless to find work.
"Workers are less likely to look for work, or accept less-than-ideal jobs, as long as they are protected from the full consequences of being unemployed,"
Also, there is the added benefit of a slew of recruits for its military adventures around the world. Before this economic collapse, US Armed Services were having difficulty meeting recruitment goals. Hence, recessions/depressions are good for the Empire.