Analysis: US long-term unemployment is rapidly surging, higher than in all recessions except 2020 and 2008
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最新报道：According to a data analysis published by The Kobeissi Letter on September 8th, the long-term unemployment rate in the United States is soaring at an alarming rate: the number of unemployed Americans jumped to 1.94 million in August, the highest level since November 2021. The number of Americans unemployed for 27 weeks or more has more than doubled since December 2022, and the proportion of individuals unemployed for more than 27 weeks has risen to 26.3%, the highest level since February 2022. The number of long-term unemployed Americans has increased by nearly 10 percentage points in just 20 months. This proportion is now higher than in all previous recessions except 2020 and 2008, making it clear that the US job market is in decline. Over the past four months, 142,200 jobs have been lost in the US, excluding the healthcare sector, the most since 2020. US nonfarm payrolls (excluding healthcare) fell by -53,000 in May, -71,800 in June, and -24,800 in August. Such a rapid decline after several years of growth has consistently coincided with the start of a recession over the past 25 years. With private sector employment also shrinking, the US job market is much weaker than it appears.
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