The New York Times article Millions of Unemployed Face Years Without Jobs covers the surge in long term unemployment due to the Great Recession.
As the chart on the right (from the article) shows, the number of people that have been out of work for at least 6 months has surged during the Great Recession.
Men make up over 60% of the long term unemployed. But the article also highlights the plight of women aged 45-64, which is one of the fastest growing cohorts for long term unemployment.
We continue to be pessimistic about near term job growth. Despite the clear signs of economic recovery, businesses remain focused on cost control and cash flow. There is little appetite yet for hiring new employees.
Recession and crisis slowed down the economic line of every nation. During this time many employers lost their job and became jobless. The recession or its remnants are going to be with us for many years as far as job creation is concerned. If we compare recession affected more women employers then men. But now the recession has been slow down. Recently I got news that http://naukriforwomen.com a job portal for women job aspirants only. Really it’s a sign of development in women empowerment. We hope this will live and fulfill our expectation.
Posted by: Sital341 | March 04, 2010 at 10:43 PM
We can see the economy improving over the last few months. There is a gap between recovery in e.g. stocks and actual economy. After the stocks the unemployment will go down.
Posted by: Weekendjeweg | January 16, 2011 at 04:30 AM
Nice graph, like the article, but we do see that unemployment does not actually follow the economy, so when the economy improves, it will take a while before we see a different graph.
Posted by: Royal Wings | January 19, 2011 at 07:14 AM