Tuesday, April 13, 2010
If you go back to 80's data you will see only 27% of total unemployed were out of job for 27 weeks and Over, but table above shows a staggering number. Unemployed who are out of job for 27 weeks and Over is 44.1% of total unemployed. Since 1948 this is a highest data, a record of 6.31 million workers who have been unemployed for more than 27 weeks. Being out of job for a long time make it hard for them to get hire again.
As you see in table above the percent unemployed who are out of job for 27 weeks and Over is increasing. Job market has shown some signs of improvement,or in better word it is no longer falling of the cliff, it is going side way. As an analyst I do not see a bright future for the U.S. job market. It takes years for job market to improve.
Posted by . at 11:25 AM