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In September 2019, the U.S. unemployment rate dropped to 3.5%, near the lowest rate in 50 years. [20] On May 8, 2020, the Bureau of Labor Statistics reported that 20.5 million nonfarm jobs were lost and the unemployment rate rose to 14.7 percent in April, due to the Coronavirus pandemic in the United States .
Layoffs have been all over the news. More than 150 tech companies alone have said farewell to nearly 40,000 employees, per layoffs.fyi.It’s bad, of course, to be one of those heading out the door.
Three years ago, amid recession, Congress sought to lessen the pain by extending the period that the long-term unemployed could claim benefits. As millions of Americans can attest, job loss can be ...
By Christina Scotti Two men named Bob. Both are over 50 years old. Both had been working consistently for nearly three decades before losing their jobs in 2009. Both were out of work for more than ...
The number of long-term unemployed (those jobless for 27 weeks or more) declined by 293,000 in June to 3.1 million; these individuals accounted for 32.8 percent of the unemployed. Over the past 12 months, the number of long-term unemployed has decreased by 1.2 million." [35]
Long-term unemployment is a component of structural unemployment, which results in long-term unemployment existing in every social group, industry, occupation, and all levels of education. [23] In 2015 the European Commission published recommendations on how to reduce long-term unemployment. [24] These advised governments to:
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Additionally as of September 2012, the long-term unemployment is the highest it had been since World War II, [84] and the unemployment rate peaked several months after the end of the recession (10.1% in October 2009) and was above 8% until September 2012 (7.8%).