Four years ago, 6.8 million Americans were out of work for six months or longer. Half as many are now. That might sound like good news, but it isn’t.
Nearly four-fifths of those who became long-term unemployed during the worst period of the downturn have since migrated to the fringes of the job market, a recent study shows, rarely seeking work, taking part-time posts or bouncing between unsteady jobs. Only one in five, according to the study, has returned to lasting full-time work since 2008.
The plight of these millions is now at the center of a contentious debate among top U.S. officials over how to spur jobs without stirring inflation.