Long-term unemployment fell significantly in January, continuing a downward trajectory from its pandemic-era peak after having plateaued in recent months.
The number of Americans out of work for at least six months declined by 317,000 since December, to about 1.7 million in January, according to U.S. Department of Labor data issued Friday.
The long-term unemployed accounted for 25.9% of all unemployed Americans in January, down from 31.7% the month prior.
That monthly decline (5.8 percentage points) is the largest since March 2021, when long-term joblessness began a steady descent. Until January, the share had leveled off around 32% over the three prior months.
END
Be the first to comment