Long-Term Unemployment at Highest Recorded Rate
By Annie Lowrey
This morning, another round of jobless benefits expired, with Congress away and hope of the approval of a new tier diminishing. And Sara Murray of The Wall Street Journal highlights one of the worst facets of the unemployment crisis: Nearly half of the unemployed — 45.9 percent, or 7 million people — have been out of work for more than six months, the highest proportion since the Labor Department started tracking the statistic in 1948.
For every day a person is out of work, not only does he and his family suffer from the effects of lost income, but the chances of his finding work diminish. And, unusually in this recession, long-term employment has not just hit retirement-age or very young workers, but every demographic class.