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Jobs report not so great for the long term unemployed

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(Read caption) This chart shows the change in the number of workers unemployed 27 weeks or more since 2000. The number of long term unemployed workers increased to 4.79 million in February.

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Friday's employment situation report showed that conditions for the long term unemployed worsened notably in February while still remaining distressed by historic standards.

Workers unemployed 27 weeks or more increased to 4.797 million or 40.2% of all unemployed workers while the median term of unemployment increased to 17.8 weeks and the average stay on unemployment increased to 36.9 weeks.

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Looking at the charts below, you can see that today’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.