Washington, DC (Associated Press, March 20, 2014): A new study documents the bleak plight of Americans who have been unemployed for more than six months: Just 11 percent of them, on average, will ever regain steady full-time work.
The findings by three Princeton University economists show the extent to which the long-term unemployed have been shunted to the sidelines of the U.S. economy since the Great Recession. The long-term jobless number 3.8 million, or 37 percent of all unemployed Americans.
"The long-term unemployed are more than twice as likely" to stop looking for a job than to find one, according to the paper co-written by Alan Krueger, formerly President Barack Obama's chief economic adviser. "And when they exit the labor force, the long-term unemployed tend to say they no longer want a job."