U.S. Long-Term Unemployment Rises as Nearly 2 Million People Search for Work for at Least Six Months

U.S. long-term unemployment has risen, with nearly 2 million Americans unable to find work for at least six months. According to Jin10, U.S. Labor Department data showed that long-term unemployment, defined as joblessness lasting 27 weeks or more, accounted for 27.3% of all unemployed people in June, up 4 percentage points from a year earlier. That share was close to its highest level since late 2021. Although the overall unemployment rate remained low, the scale of long-term unemployment was still not large enough to cause a material economic shock, the report said. Analysts added that the spillover effects were continuing to build. Preston Mui, senior economist at research firm Employ America, said there had not been large-scale layoffs in recent years, so short-term unemployment had remained relatively stable. He added that hiring activity had fallen noticeably, meaning more people were continuing to move into long-term unemployment even when some found jobs again.