Long-Term Unemployment Rate
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A Long-Term Unemployment Rate is an unemployment rate of long-term unemployed workers relative to the working populations.
- Example(s):
- Counter-Example(s):
- See: Low-Skill Worker, Unemployment Duration, Long-Term Unemployed to Total Unemployed Rate.
References
2010
- (Aaronson et al., 2010) ⇒ Daniel Aaronson, Bhashkar Mazumder, and Shani Schechter. (2010). “What is behind the rise in long-term unemployment?.” In: Economic Perspectives, Federal Reserve Bank of Chicago Q 2 (2010): 23-51.
- QUOTE: As we entered 2010, the average length of an ongoing spell of unemployment in the United States was more than 30 weeks — the longest recorded in the post-World War II era. Remarkably, more than 4 percent of the labor force (that is, over 40 percent of those unemployed) were out of work for more than 26 weeks — we consider these workers to be long-term unemployed. In contrast, the last time unemployment reached 10 percent in the United States, in the early 1980s, the share of the labor force that was long-term unemployed peaked at 2.6 percent. Although there has been a secular rise in long-term unemployment over the last few decades, the sharp increases that occurred during 2009 appear to be outside of historical norms.