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Paper Economy

Extended unemployed down for August, but they're unemployed longer

Workers unemployed 27 weeks or more declined to 5.033 million or 40.0 percent  of all unemployed workers while the median number of weeks unemployed jumped to 18.0 weeks The average stay on unemployment climbed to 39.2 weeks.

By Guest blogger / September 9, 2012

This chart shows, in thousands, the year over year change the number of Americans who have been unemployed for 27 weeks or more since 2000. The number of workers facing long-term unemployment fell in August, but the weeks they were unemployed ticked up.

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Writer, The PaperEconomy Blog

'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.

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Today's employment situation report showed that conditions for the long term unemployed were mixed in August and remained epically distressed by historic standards.

Workers unemployed 27 weeks or more declined to 5.033 million or 40.0% of all unemployed workers while the median number of weeks unemployed jumped to 18.0 weeks and the average stay on unemployment climbed to 39.2 weeks.

Looking at the chart below,  you can see that today‚Äôs sorry situation far exceeds even the conditions seen during the double-dip recessionary period of the early 1980s, long considered by economists to be the worst period of unemployment since the Great Depression.

The Christian Science Monitor has assembled a diverse group of the best economy-related bloggers out there. Our guest bloggers are not employed or directed by the Monitor and the views expressed are the bloggers' own, as is responsibility for the content of their blogs. To contact us about a blogger, click here.To add or view a comment on a guest blog, please go to the blogger's own site by clicking on paper-money.blogspot.com.

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