The Army of Chronic Unemployment

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There aren’t any major shockers in the latest monthly employment report for February out today from the Bureau of Labor Statistics. The most commonly used unemployment rate held steady at 9.7 percent, and the economy shed 36,000 jobs—up from 22,000 in January. What you should care about in the latest jobs report is the army of unemployed Americans who remain chronically unemployed, meaning they’ve been without work for 27 weeks or more. As you can see in the graph below from the invaluable economics site Calculated Risk, in the past two years the number of chronically unemployed Americans has skyrocketed, shattering the previous record in the early 1980s.

Today, 4 percent of the population has been without work for 27 weeks or more. No story of the ongoing job crisis is complete without the graph below, especially given that the longer people are out of work, the harder it is for them to get back into the workforce. Likewise, no solution to our job nightmare will be sufficient without addressing this army of the long-term unemployed.

UnemployedOver26WeeksFeb2010

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Fact:

In-depth journalism that investigates the powerful takes real money and is so damn important right now.But it doesn’t take a Mother Jones investigation to know that billionaires and corporations will never fund the type of reporting (like they do politicians) we do that exists to help bring about change. Instead, our mission-driven journalism is made possible by people power, and has been for 46 years now since our founding as a non-profit.

In “TITLE TK” Monica Bauerlein writes about the perilous moment we’re in, and why it’s so important that we raise $325,000 by the time November’s midterms are decided so we can be ready to throw everything we have at the big issues facing the nation no matter what happens. Please help MoJo’s people-powered journalism with a donation today.

$400,000 to go!

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