- Joined
- Jun 18, 2018
- Messages
- 81,353
- Reaction score
- 86,298
- Gender
- Male
- Political Leaning
- Progressive
"More Americans are facing stretches of unemployment of six months or more, a worrisome sign for the U.S. economy. More than 1 in 4 workers without jobs have been unemployed for at least half a year, new data shows. That number is a post-pandemic high and a level typically only seen during periods of economic turmoil.
In all, more than 1.9 million Americans had been unemployed “long term” in August, meaning they have been out of work for 27 weeks or more, a critical cliff when it comes to finding a job. That’s more than double the 1 million people who were in a similar position in early 2023.
...The pickup in months-long unemployment coincides with broader cooling in the labor market. Although the overall unemployment rate, 4.3 percent, is near longtime lows, many employers have frozen hiring as they wait to see how new tariffs and other economic policies will affect business. Layoffs are rising, too, with weekly claims for unemployment insurance reaching the highest level since October 2021."
Link
Bringing back the good old days, I guess.
In all, more than 1.9 million Americans had been unemployed “long term” in August, meaning they have been out of work for 27 weeks or more, a critical cliff when it comes to finding a job. That’s more than double the 1 million people who were in a similar position in early 2023.
...The pickup in months-long unemployment coincides with broader cooling in the labor market. Although the overall unemployment rate, 4.3 percent, is near longtime lows, many employers have frozen hiring as they wait to see how new tariffs and other economic policies will affect business. Layoffs are rising, too, with weekly claims for unemployment insurance reaching the highest level since October 2021."
Link
Bringing back the good old days, I guess.
