CHART OF THE DAY: The Long Term Unemployment Problem May Be About To Look Much Worse

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The Bureau of labour Statistics announced changes to rules on how it calculates long-term unemployment Tuesday, according to The Hill.

The changes will expand the BLS’ ability to calculate unemployment for those beyond 99 weeks. Now, there will be a new box to tick, one saying 260 weeks or over unemployed.

That’s a box no one wants to tick, but many may have to.

This new stat is likely to give a much better view of the structural unemployment problem than the 27 week chart we have right now.

chart of the day, unemployed 27 weeks and over, dec 2010

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