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Long-Term Unemployment Remains High, Millions Leave Labor Force
Posted By kurtnimmoadmin On February 3, 2012 @ 3:53 pm In Economic Crisis | Comments Disabled
February 3, 2012
Despite a January jobs report that saw slightly stronger private sector job growth than in recent months, long-term unemployment remains at record high levels and revised statistics show that another 1.2 million have left the labor force.
According to the Bureau of Labor Statistics (BLS), the number of long-term unemployed – those out of work for 27 weeks or more, was unchanged at 5.5 million in January, near its record of 6.7 million in April 2010. That number has been at historic highs of 5-6 million since August 2009.
BLS figures also reveal that the number of people who have left the labor force entirely was much higher than previously thought – 1.2 million higher.
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