Twenty-three percent of America’s unemployed have been jobless for a year or longer, the highest rate since World War II, according to a study released today by the Pew Economic Policy Group. The report, A Year or More: The High Cost of Long-Term Unemployment, finds that this trend cuts across nearly every industry and occupation, and affects people of all ages and educational backgrounds. The existence of such a large pool of people – 3.4 million – who have been out of work for so long has had a significant impact on the federal budget.
Source: Pew Fiscal Analysis Initiative, a program of Pew Economic Policy Group
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