US long-term unemployment uptick worries researchers
Minneapolis Fed authors point to ‘large and consequential trend’ upwards
The US long-term unemployment rate shows a “large and consequential trend” upwards, says economists with the Federal Reserve Bank of Minneapolis, in research published October 15.
The authors, Andrew Goodman-Bacon and Abigail Wozniak, explain that the long-term unemployment rate is commonly defined as the percentage of the labour force that are out of a job and have been seeking work for 27 weeks or more.
“The long-term unemployment rate quantifies a particularly severe and possibly harmful type
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