The long-term unemployed are still struggling to find work
FiveThirtyEight's Ben Casselman points to the fact that the job-finding rate is increasing for the short-term unemployed, but not the long-term:
How come? One factor is the poor health of the long-term unemployed. As I pointed out last week, obese Americans are more likely to be unemployed longer. Being out of work, particularly for the long-term unemployed, can itself make someone more likely to become obese. And unemployment can cause depression, another factor that makes obesity likelier. Another factor is that skills corrode as a result of long-term unemployment. This means employers are more hesitant to employ someone who has become long-term unemployed.
And this is the disaster of the post-2008 economy — with unemployment having risen so much during the recession, plus a slow recovery, lots of people have been thrown onto the scrap heap. And they're struggling to climb off.
The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
What this means is that solving the problem of long-term unemployment is tricky, and requires addressing the additional matters of health problems, as well as loss of skills.
A free daily email with the biggest news stories of the day – and the best features from TheWeek.com
John Aziz is the economics and business correspondent at TheWeek.com. He is also an associate editor at Pieria.co.uk. Previously his work has appeared on Business Insider, Zero Hedge, and Noahpinion.
-
7 bars with comforting cocktails and great hospitalitythe week recommends Winter is a fine time for going out and drinking up
-
7 recipes that meet you wherever you are during winterthe week recommends Low-key January and decadent holiday eating are all accounted for
-
Nine best TV shows of the yearThe Week Recommends From Adolescence to Amandaland
-
TikTok secures deal to remain in USSpeed Read ByteDance will form a US version of the popular video-sharing platform
-
Unemployment rate ticks up amid fall job lossesSpeed Read Data released by the Commerce Department indicates ‘one of the weakest American labor markets in years’
-
US mints final penny after 232-year runSpeed Read Production of the one-cent coin has ended
-
Warner Bros. explores sale amid Paramount bidsSpeed Read The media giant, home to HBO and DC Studios, has received interest from multiple buying parties
-
Gold tops $4K per ounce, signaling financial uneaseSpeed Read Investors are worried about President Donald Trump’s trade war
-
Electronic Arts to go private in record $55B dealspeed read The video game giant is behind ‘The Sims’ and ‘Madden NFL’
-
New York court tosses Trump's $500M fraud fineSpeed Read A divided appeals court threw out a hefty penalty against President Trump for fraudulently inflating his wealth
-
Trump said to seek government stake in IntelSpeed Read The president and Intel CEO Lip-Bu Tan reportedly discussed the proposal at a recent meeting