While overall unemployment dropped from 9.5 percent in June to 9.4 percent in July, the number of long-term unemployed (those jobless for 27 weeks or more) increased to 4.9 million, up from 4.4 million in June. “Long-term unemployment is debilitating for people trying to find jobs in the first place,” said Professor James Galbraith of The University of Texas at Austin. “Even if things stabilize and start to improve, bringing the unemployment rate down below 9 percent is going to be a struggle.”
TIME
Unemployment dips, but long-term joblessness remains a concern
Aug. 7
http://www.time.com/time/business/article/0,8599,1915185,00.html?iid=tsmodule
