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 (3 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

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