Photo: Katchooo on flickr
Even as the unemployment rate falls, America’s long-term unemployment problem isn’t going anywhere.The Pew centre defines long-term unemployment as “a jobless period of a year or longer.”
By the end of 2011, 4 million workers had been without work for at least a year, making up 31 per cent of the unemployed labour force.
To better understand long-term unemployment, we’ve compiled some charts from the Pew Fiscal Analysis Initiative, The Hamilton Project, Bureau of labour Statistics and the centre for Economic and Policy Research.
By the end of 2011, 2.8 per cent of unemployed workers had been out of a job for at least a year, the highest number since World War II
Young adults are more likely to be unemployed, but they also find it much easier to get hired again.
In order to reach pre-recession job levels, the economy needs to add around 208,000 jobs every month for the gap to close in 12 years
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