Finance

Long-term unemployment is falling for first time during Covid pandemic

0


A store advertises a Help Wanted sign in Annapolis, Maryland, on May 12, 2021.

JIM WATSON | AFP | Getty Images

Long-term unemployment fell for the second straight month in May, an encouraging shift away from the recent near-record levels fueled by the economic carnage of the Covid pandemic.

Economists classify long-term unemployment as a period of joblessness that exceeds six months.

It’s an especially risky financial period for households, during which it also generally becomes more difficult to find a new job.

The number of long-term unemployed fell by 431,000 in May to 3.8 million people — accounting for 40.9% of the total unemployed, according to the Bureau of Labor Statistics. That’s a…



Source cnbc.com

Energy giant Orsted to recover, reuse or recycle turbine blades

Previous article

Climate change not a main factor in Fed decisions

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Finance