Long-Term Unemployment

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Long-Term Unemployment

The lack of work for an extended period of time, often defined as six months or longer. Long-term unemployment can be extremely harmful to the unemployed person because he/she may lose eligibility for certain government benefits if he/she has been out of work for too long. Likewise, significant long-term unemployment can create a vicious cycle for the economy at large: the skill set of the long-term unemployed workers may languish or even become obsolete in some industries, which makes it more difficult for them to find work when employers begin to hire again.
References in periodicals archive ?
The unemployment rate remains elevated because of an unacceptably high prevalence of long-term unemployment, but it is encouraging that roughly half the decline in the overall unemployment rate over the past year has come from a falling long-term unemployment rate, a disproportionate contribution since the long-term unemployed represent about one-third of the total unemployed, Furman said.
The long-term unemployment rate peaked at twice the value achieved at any other time in the post-War period.
The dark line indicates the long-term unemployment rate (defined as the number unemployed for 27 weeks or longer divided by the labor force), whereas the dotted line is the similarly defined unemployment rate for those unemployed for 14 weeks or less, and the dashed line is the rate for the intermediate group unemployed for 15 to 26 weeks.
Elsewhere, though, things really are dismal: unemployment in the eurozone remains stubbornly high and the long-term unemployment rate in the US still far exceeds its pre-recession levels.
However, what really distinguishes the Great Recession from past episodes of high unemployment is the long-term unemployment rate (the percentage of the civilian labor force unemployed for more than 26 weeks).
Even in what was once called the Great Recession, in 1981-1982, the long-term unemployment rate only got up to 2.
Compared with 2008, the long-term unemployment rate has increased in several EU Member States, most markedly in Ireland, Spain and the Baltic States.
The EU allocations to Poland are expected to contribute to an additional GDP growth exceeding one percentage point a year, and a decline in the long-term unemployment rate of three percentage points.
At the start of the seven-year programme, Anglesey had Wales' second lowest GDP, highest long-term unemployment rate and lowest average weekly wage .
The standardized regression coefficient of about i implies that a total tax rate of one standard deviation above the mean is related to a long-term unemployment rate that is about 3.
the second-highest long-term unemployment rate - only Liverpool Riverside is worse
Labor market policies, such as public works and retraining will be concentrated in areas with the highest long-term unemployment rate.