Bernanke Tells Executives He’s Concerned About Jobless
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Federal Reserve Chairman Ben S. Bernanke said the economy isn’t growing fast enough to “materially” reduce unemployment and expressed concern about workers who have been without a job for a long time.
“This is very unusual and very worrisome because people who are out of work for an extended period, their skills tend to erode,” Bernanke said at a meeting with business leaders in Columbus, Ohio. The share of unemployed who are jobless for more than six months is greater than 40 percent, Bernanke said.