The U.S. Department of Labor announced Friday (5), although the January unemployment rate decreased by 0.4 percentage points to 6.3%, also better than the expected 6.7%, but a closer analysis of the data shows that the month’s long-term unemployment rate, that is, unemployed for at least six months of wage earners accounted for 40%, directly after the financial tsunami in April 2010 nearly 46% level, reflecting the job market situation is not as optimistic as the data on the surface.
In fact, although the U.S. non-agricultural jobs after a decline of 227,000 in December, January has resumed growth of 49,000, and since the low in March and April last year to recreate 12.5 million jobs, but the number of jobs is still less than February before the outbreak of the Epidemic by nearly 9 million.
According to Nick Bunker, director of economic research at jobs website Indeed, long-term unemployment is one of the most worrisome aspects of January’s jobs data, especially when job growth begins to slow.
Robard Williams, a senior vice president at ratings agency Moody’s, noted that the longer a person is unemployed, the harder it is to find a job, whether the job market is good or difficult.
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