Long-Term Joblessness Surges to Record High

 

In an astounding departure from past patterns, fully 44 percent of the nation's 15 million unemployed have been out of work for more than six months.

In a worrisome trend, 44 percent of those unemployed have been out of work for more than 6 months. Despite the optimism generated by recent job gains, one grim statistic casts a long shadow over the recovering economy – and over the future for more than 6 million American workers. In this down economy now may be a good time to hire temporary workers or day laborers who just need a source of income.

Evidence suggests many of them may never completely rebuild the working lives they lost. Never since the Great Depression has the U.S. labor market seen anything like it. The previous high in long-term unemployment was 26 percent in June 1983, just after the deep downturn of the early ‘80s. The 44 percent rate this year translates into more than 6.5 million people. ?EUR??,,????'?????<