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…