Federal Reserve Chairman Ben Bernanke last week called long-term unemployment a "national crisis" and said it should be one of Congress' top priorities.
When people are out of work for a year or more, their skills often decline. Their professional networks shrink. Companies hesitate to hire them. The problem feeds on itself.
"It's a serious threat," said Mark Zandi, chief economist at Moody's Analytics. "A growing proportion of the labor force is becoming disenfranchised."
via m.apnews.com
