Recent economic news has been brighter as of late with consumer confidence starting to move upward, and monthly unemployment rates and jobless claims declining. But every silver lining has a cloud, and that cloud are people who have been out of work for a long time.
Nearly a third of Americans who were unemployed last month have been without a job for 26 or more weeks, double the rate recorded before the recession began late in 2007. Those out of work for extended periods of time are often less likely to be hired than those unemployed for shorter stretches. The result is a more devastating impact to household savings and long-term earning potential for those job seekers.
READ MORE from Missing in Action – The Long-Term Unemployed