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Jobs report not so great for the long term unemployed

Long term unemployment worsened in February, with the percentage out of work 27 weeks or more increasing to 40.2 percent of all unemployed workers. 

By Guest blogger / March 10, 2013

This chart shows the change in the number of workers unemployed 27 weeks or more since 2000. The number of long term unemployed workers increased to 4.79 million in February.

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Friday's employment situation report showed that conditions for the long term unemployed worsened notably in February while still remaining distressed by historic standards.

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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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Workers unemployed 27 weeks or more increased to 4.797 million or 40.2% of all unemployed workers while the median term of unemployment increased to 17.8 weeks and the average stay on unemployment increased to 36.9 weeks.

Looking at the charts below, you can see that today’s 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.

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