Jobs Report Still Not Pretty: The Ticker
Here's the Hamilton Project's assessment of prospects for the unemployed:
No matter how long a worker has been unemployed, the odds that they find a job are far lower than before the recession. Furthermore, the odds of experiencing long-term unemployment are highly related to losing a job in a particularly hard-hit industry, like construction or manufacturing, and are disproportionately concentrated in certain distressed states.
The jobs gap is still 12.1 million jobs. At a rate of 208,000 new jobs per month, it will take slightly more than 12 years to close that gap, according to the Hamilton Project, a public policy group started in 2006 by the Brookings Institution. For the unemployed, the U.S. labor market remains the worst since the Great Depression.
(Francis Wilkinson is a member of the Bloomberg View editorial board.)