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Dramatic Surge in Percentage of Long-Term Unemployment
by Mish Shedlock, The Street:
We are nowhere close to the percentages reached in the Great Recession, but this recession is not yet a year old.
Unemployment Rate Plunges as BLS Reports 2.2 Million People Find Work
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Earlier today I commented Unemployment Rate Plunges as BLS Reports 2.2 Million People Find Work
Although the rate has plunged the unemployment level is 11,061,000.
32.5% of them have been unemployed for 27 weeks or longer.
Roughly 3.6 million people are long-term unemployed, and the percentage goes up every week.
Average Weeks Unemployed
The average number of week has surged to 21.2% and will keep rising.
