Long-Term US Unemployment Rate Creeps Up To 27% Despite Blockbuster August Hiring

Long-Term US Unemployment Rate Creeps Up To 27% Despite Blockbuster August Hiring Despite the recent blockbuster August jobs report, the anemic pace of hiring in prior months has been exacerbating challenges for long-term unemployed Americans, new research from the Richmond Federal Reserve finds. The long-term unemployment rate - those who are out of work for 27 weeks or longer as a share of the total unemployed - has been steadily climbing since early 2023. Of all unemployed Americans in August, more than one-quarter (27 percent), or 1.93 million, had been out of...