The New American Reality of Long-Term Unemployment and Destitution
As illustrated by this (slightly improved) graphic from the New York Times, long-term unemployment (as a percentage of the workforce) has now outrun all previous recessions since this data began to be collected in 1948, and even more bad news is lurking under the numbers.
At the height of unemployment in 1982, one of every five unemployed workers was on a temporary layoff, with the expectation they would be recalled, sooner or later. Today the comparable figure is 1 of 10.
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