In U.S, there are roughly 32% of 14 million; 4.4 million of people were jobless for a year or more. The number of unemployment is nearly equal to the population of Louisiana. Besides, during the recent downturn, the unemployment rate in U.S jumped from 4.4% to 10%. Based on the report, there has a double signs of long-term unemployment on 2009. On 2011, there are more than 43 percent of unemployed workers older than 55 had been out of work for at least a year during third quarter of the year. According to the Labor Department, that shows the unemployment rate held steady in 9.1% in September 2011. On 2014, the unemployment rate fell from 6.1% to 5.9%, it is slipping under 6% for the first time since of 2008.
The economic costs of chronic joblessness are not lesser than any previous recession, it is causing consumer larger spending, crediting poor quality and overall drag on productivity; which these are hindering economic and also impacting all age groups of employment. Therefore in the September of 2011, there were added 103,000 jobs as the unemployment rate held steady at 9.1%; in October the jobs report expect slow slightly to 90,000 in job growth. In spite of the businesses remaining skittish about hiring there still remaining many Americans continue finding work in a tough time. It includes 34% of
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The unemployment rate of September fell from 6.1% to 5.9%, there is a shaper declines in high school diploma which unemployment sunk from 6.2% to 5.3% for high school graduates and from 9.1% to 8.4% for those without a high school diploma, because most of them got discouraged, retired or returned to school. In the other side the unemployment rate nearing a normal 5.5%, firms can't be so picky therefore many employers willing to hire less education workers. "Now that the market is getting tight…(employers) are willing to accept" those with less education, Zandi