Wednesday, December 29, 2010

U.S. changes how it measures long-term unemployment - USATODAY.com

So many Americans have been jobless for so long that the government is changing how it records long-term unemployment.

Citing what it calls 'an unprecedented rise' in long-term unemployment, the federal Bureau of Labor Statistics (BLS), beginning Saturday, will raise from two years to five years the upper limit on how long someone can be listed as having been jobless.

The move could help economists better measure the severity of the nation's prolonged economic downturn."

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