Sunday, February 10, 2013

Doomed job prospect after 6-month unemployment

Another terrible sign of long-term unemployment (i.e., unemployed for more than 6 months), now it accounts for 38% of all the unemployed. (i.e., 3% long-term unemployed out of overall 7.9% unemployed). This 38% for long-term unemployed is three times as high as the average since 1950. It shot up since 2008 financial crisis but did not go down in the last four years. If your job skill is replaceable and out of jobs for more than six months, your future job prospect may be doomed. (From recent issue of Business Week)


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