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Trump Slump-Long-term unemployment at post-pandemic high, straining workers and economy
More Americans have been jobless for six months or more, a sign of the labor market’s weakness ahead of the Federal Reserve’s highly anticipated meeting this week.
Long-term unemployment at post-pandemic high, straining workers and economy www.washingtonpost.com/business/202...
— Catherine Rampell (@crampell.bsky.social) 2025-09-15T11:06:11.884Z
https://www.washingtonpost.com/business/2025/09/15/long-term-unemployment-workers-jobs/
More Americans are facing stretches of unemployment of six months or more, a worrisome sign for the U.S. economy.
More than 1 in 4 workers without jobs have been unemployed for at least half a year, new data shows. That number is a post-pandemic high and a level typically only seen during periods of economic turmoil.
In all, more than 1.9 million Americans had been unemployed “long term” in August, meaning they have been out of work for 27 weeks or more, a critical cliff when it comes to finding a job. That’s nearly double the 1 million people who were in a similar position in early 2023......
For the unemployed, it’s becoming increasingly difficult to find new work — now taking an average of six months, a month longer than before the pandemic, according to Labor Department data. And for the first time in four years, there are more unemployed people in the United States than there are job openings.
“I have 15-plus years in IT. I thought I should be able to step into any job,” said Steve Beal, 47, who has been unemployed since March 2024, when he was laid off from a six-figure job at Best Buy’s corporate office in Minnesota. “But so far I’ve applied to at least 300 jobs, and it’s all rejections. Even with referrals, networking, résumé services, I haven’t gotten anywhere.”
Separate data this week showed that Americans’ confidence in their ability to find a new job is at a record low. A survey by the Federal Reserve Bank of New York found that people say there is less than a 45 percent chance they could find a job in the next three months if they were to suddenly become unemployed, which is the lowest reading since the survey began in 2013.
More than 1 in 4 workers without jobs have been unemployed for at least half a year, new data shows. That number is a post-pandemic high and a level typically only seen during periods of economic turmoil.
In all, more than 1.9 million Americans had been unemployed “long term” in August, meaning they have been out of work for 27 weeks or more, a critical cliff when it comes to finding a job. That’s nearly double the 1 million people who were in a similar position in early 2023......
For the unemployed, it’s becoming increasingly difficult to find new work — now taking an average of six months, a month longer than before the pandemic, according to Labor Department data. And for the first time in four years, there are more unemployed people in the United States than there are job openings.
“I have 15-plus years in IT. I thought I should be able to step into any job,” said Steve Beal, 47, who has been unemployed since March 2024, when he was laid off from a six-figure job at Best Buy’s corporate office in Minnesota. “But so far I’ve applied to at least 300 jobs, and it’s all rejections. Even with referrals, networking, résumé services, I haven’t gotten anywhere.”
Separate data this week showed that Americans’ confidence in their ability to find a new job is at a record low. A survey by the Federal Reserve Bank of New York found that people say there is less than a 45 percent chance they could find a job in the next three months if they were to suddenly become unemployed, which is the lowest reading since the survey began in 2013.
I agree with Congressman Swalwell. This is the trump slump
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