Long term unemployment decreases in November(Read article summary)
Workers unemployed 27 weeks or more decreased to 4.79 million or 40.1 percent of all unemployed workers in November.
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Today'sÂ employment situation reportÂ showed that conditions for the long term unemployed improved in November remaining epically distressed by historic standards.
Workers unemployed 27 weeks or more decreased to 4.786 million or 40.1% of all unemployed workers while the median number of weeks unemployed dropped to 19.0 weeks and the average stay on unemployment declined to 40.0 weeks.
Looking at the chart above you can see that todayâ€™s sorry situation far exceeds even the conditions seen during the double-dip recessionary period of the early 1980s, long considered by economists to be the worst period of unemployment since the Great Depression.