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News Link • Economy - Economics USA

Employment Summary and Part Time Workers, Unemployed over 26 Weeks

#1 This graph shows the job losses from the start of the employment recession, in percentage terms - this time from the start of the recession. In the previous post, the graph showed the job losses aligned at the bottom. The dotted line shows payroll employment excluding temporary Census workers. This is by far the worst post WWII employment recession. #2 The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) was little changed over the month at 9.0 million. These individuals were working part time because their hours had been cut back or because they were unable to find a full-time job. #3 According to the BLS, there are 6.313 million workers who have been unemployed for more than 26 weeks and still want a job. This was up from 6.206 million in October. It appears the number of long term unemployed has peaked, however the level is extremely high - and the increases over the last two months is very concerning.

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