You may have read recent reports about the growing ranks of the long-term unemployment, even though overall jobless numbers are improving.
Nearly half (46 percent) of the long-term unemployed in the country have been out of work more than six months, the worst it’s been since records started being kept in the late 1940s. In fact, it’s twice as much as the peaks reached in previous recessions since then. And it’s getting worse. The long-term unemployed (out of work 27 months or more) is expected to soon grow to half those out of work.
But what the reports may not have mentioned is that most of them are older workers. Baby boomers, aged 45 to 64, face on average a 34-week job search. The next biggest age group facing a long job hunt are aged 65 to 69 who want to work. Their job search is typically 50 weeks.
The danger, as a recent AP story pointed out, is becoming less employable as one loses skills, confidence and contacts.
By the way, the typical long-term unemployed person is white a high school graduate with no college. Machinists, woodworkers and production workers look for work the longest, followed by managers, business and financial workers.