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Long-term unemployment: causes, consequences and solutions

May 26 , 2010. Heidi Shierholz Economist, Economic Policy Institute. EPI Forum . Long-term unemployment: causes, consequences and solutions. The gap in the labor market. Jobs needed to keep up with population growth. 2.9 million. 10.7 million. 7.8 million.

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Long-term unemployment: causes, consequences and solutions

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  1. May 26, 2010 Heidi Shierholz Economist, Economic Policy Institute EPI Forum Long-term unemployment: causes, consequences and solutions

  2. The gap in the labor market Jobs needed to keep up with population growth 2.9 million 10.7 million 7.8 million Source: Author’s analysis of BLS data.

  3. Unemployment far outpacing job openings April 2010: 15.3 million March 2010: 2.7 million Number of job openings Source: EPI analysis of CPS and JOLTS data.

  4. 5.6 Job seekers per job opening

  5. Share of unemployed who have been jobless for over six months Source: Bureau of Labor Statistics

  6. Current UI Benefits • Regular benefits: Maximum of 26 weeks • Plus emergency benefits: Up to 73 additional • weeks, (depending on the unemployment rate • in your state) • Note: Under current law, emergency benefits • begin to phase out next week.

  7. Share of unemployed receiving UI 68.0% 33.6% Recipients in regular UI programs Source: EPI analysis of ETA data.

  8. What’s at stake Source: ETA.

  9. Number of Claimants Impacted by Delay in Extending EUC & EB

  10. For more information Heidi Shierholz hshierholz@epi.org 202.533.2560 Economic Policy Institute 1333 H Street, NW Suite 300, East Tower Washington, DC 20005-4707 202.775.8810 www.epi.org

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