Despite of USA’s efforts of job surge and addition of 321,000 payroll jobs in the month of November, the unemployment rate remains at 5.8 percent.
The addition of such a big number of payroll jobs in November was recorded to be best in last three years and boosted the 12-months recovery upto 2,756,000.
But even in contempt of these additions the unemployment rate remained unaffected. In addition the statistical value of involuntary and discouraged workers is raised to 11.4 percent.
In some respects this statistical data has indicated the normalization of the unemployment rate in short-terms but on a broader spectrum the readings are pointing to inflating numbers in long-term unemployment.
The statistical data clearly shows that concerning the short-term employment, the region, composed of people unemployed for 4 weeks or less, has deflated even from the prerecession level. The average short-term unemployment dropped down to 1.61 percent which was recorded to be 1.66 percent in the year 2007.
The unemployment in this category actually refers to the minimum time required to get a job including the time in moving and interviews. This region also represents people who switch their jobs just after they get one.
On the other hand or end of spectrum a band of people who have wait for around 27 weeks or longer includes some fresh graduates who don’t find jobs in their desired field. It also includes some job-retired personnel who are looking to fit in some new area after their retirement. This long-term band dropped down from its peak value to 1.8 percent but comparatively still remains far above the value of 0.8 percent recorded in 2007.
So manifestly long-term unemployment remained guileless and cannot be brought back to its pre-recession level. Long-term unemployment is also said to be influenced by some demographic factors, technological change and globalization. So even this stagnant feature of long-term unemployment remained unchanged so many years after the Great recession of 2008.