long term unemployed

Long term unemployed never returned to normal after the Crash

Eric Garland DataLab

On Friday we showed the steady job growth in the United States since the Crash and the “Recovery.”

But we use “recovery” in quotes for a reason. When you look at the rates of long term unemployed as a percentage of total unemployed in the United States, it becomes more difficult to believe in some sort of return to “normal.” Something significant happened in 2009, and it changed more than just the over-the-counter derivatives market.