July 08, 2011
July 8, 2011
The median and average duration of unemployment both rose in June, with the latter reaching a record high of 39.9 weeks. This corresponded to an increase of 89,000 in the number of workers who had been unemployed for more than 26 weeks. While the share of the long-term unemployed fell slightly due to a jump in newly unemployed workers, it has been creeping up again in the last half year after declining in the fall of 2010. This should be a major policy concern since the long-term unemployed tend to have great difficulty finding new employment.
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