September 6th, 2011
10:14 AM ET

Fact: 42% of unemployed have been out of work for 6 months or longer

Forty-two percent of unemployed - six million people - have been out of work for 27 weeks or longer, according to the Labor Department.

The Federal Reserve Bank of Richmond recently released an economic brief on long-term unemployment that said,

"Even during the recession of 1981–82, when the total unemployment rate reached 10.8 percent, the peak share of long-term unemployment was only 26 percent."

The report went on to say, “After a long period of unemployment, affected workers may become effectively unemployable.”

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Topics: Jobs

soundoff (4 Responses)
  1. Onesmallvoice

    Unless Washington changes it's priorities and soon, the above mentioned percentage will only get higher and higher. But with the current field of candidates running for President next year, that won't happen any time in the near future, unfortunately!

    September 6, 2011 at 11:12 am | Reply
    • Travis

      I completely agree, Onesmallvoice. We need to quit fighting all these unnecssary wars overseas, stop lavishing money on the military needlessly and quit giving undeserved tax breaks to the wealthy. Then we need to shore up our social programs here at home and help the poor. Like Abraham Lincoln once said, the job of the government is to do for the people what the people cannot do for themselves.

      September 6, 2011 at 3:45 pm | Reply
  2. Eddie Fonseca

    In the late sixties and seventies there was a famous group during Ronald Regan time as president which was called, The Valentine Brothers who had a song called Money is to Tight to Mention. The song talked about the hard times in America from people losing their jobs, and the hard working middle class family's in our great land making lots of sacrifices to pay their bills and put food on the table. Being an average kind of guy who works in the trades field I can understand, how people who have no jobs are trying to the stretch the all mighty dollar which sometimes forces them to move back with their family's and to take a low paying job to pay those bills. I don't think it's really fair when the wealthy in America, are not paying their fair share of the taxes and we have an unemployed rated of 42% what kind of message are we sending our children that America has not place for them to live the American Dream or having a great job, and to buy that house to live the American Dream. If as Americans when read the paper these days and the only thing, we see is corporations cutting jobs and the paycheques are getting smaller by the year, which is not right atall I think all Americans including myself should say in one voice to the government what in the hell is happening to our country, when we can't even afford to buy milk and eggs and provide a great quality of lifestyle our parents knew about twenty years ago in our great land which will be talked about by future younger generations in America for years to come.

    September 19, 2015 at 12:10 am | Reply

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