Despite the fact that the unemployment numbers are slowly coming down, the number of those out of work for a long period of time is still simply staggering.
From The Washington Free Beacon:
Nearly 5 million workers are classified as long-term unemployed, while 900,000 more have stopped looking for work altogether, according to a new series of reports issued by the Urban Institute.
Three percent of the labor force has been out of work for more than six months, an improvement of only one percentage point since unemployment spiked in October 2009, according to the study.
“That long-term unemployment would rise during a recession is not at all surprising, but the extent of the increase and its persistently high level since the start of the recovery are both troubling and unprecedented,” the report states. “The U.S. economy is now well into its fourth year of recovery, the unemployment rate is below 8 percent, yet the long-term share of unemployment is still near 40 percent.”
The center-left think tank said that those startling figures are unlikely to change unless the United States can achieve dramatic job growth, rather than the middling 2 percent overall economic growth figures the Obama administration has averaged.
happy Labor Day. ==> Number of Long-Term Unemployed ‘Unprecedented’ Under Obama | Washington Free Beacon freebeacon.com/number-of-long…※ Diana O'Hara @Diana236
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But for so many, he still is the savior!! fb.me/LZSvFk85Defending the 2nd @Defending2AJCB @valuepointorgBrian Bonner @brianbonnerUnemployed Rising @URising
Number of Long-Term Unemployed ‘Unprecedented’ Under Obama. shar.es/zqVuRRich Petersen @r4richConservative Patriot @DieHardPatriots
|The Washington Free Beacon|Mark W.| Thursday, August 22, 2013| American Patriot Publications fb.me/1LPKB7Lrs