San Francisco Fed dissects long-term unemployment

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Long-term unemployment in the US has "persisted remarkably in the aftermath of the recession" according to an economic letter published by the Federal Reserve Bank of San Francisco on February 4, but is likely to disappear over time.

The author, Rob Valletta, says that since the recession structural unemployment in the US has increased modestly, while the average length of unemployment has also grown longer.

This is partly because of the "unprecedented extension" of unemployment benefits

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