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 ?
She did acknowledge in her prepared remarks that she lowered her long term unemployment rate forecast to 4.5% at the March FOMC meeting, and expected GDP a little above 2.5% this year and in 2019.
The long term unemployment rate decreased from 4.2% to 2.8% year on year to Q3 2017.
In Greece, where around a quarter of the population is jobless, the long term unemployment rate stands at over 18 percent -- a far cry from the 1.5 percent rate in the United Kingdom and Sweden.
The long term unemployment rate went up by 0.4 percentage points and reached 6.8% in the fourth quarter of 2012.
THE long term unemployment rate in Northern Ireland has risen by just over 10 per cent in the past year, it was announced yesterday.
The long term unemployment rate (LFS) was 48.9%, a decrease of 4.6 percentage points (pps) on the previous year.
The long term unemployment rate started to decline in the first quarter of 2014 but remains high in the first quarter of 2015, at almost 5% of the labour force.