The United States is Experiencing the Longest Stretch of High Unemployment Since the Great Depression

Congressional Budget Office – The rate of unemployment in the United States has exceeded 8 percent since February 2009, making the past three years the longest stretch of high unemployment in this country since the Great Depression. CBO projects that the unemployment rate will remain above 8 percent until 2014. The share of unemployed people who have been looking for work for more than six months—referred to as the long-term unemployed—topped 40 percent in December 2009 and has remained above that level ever since.

In a study requested by the Ranking Member of the House Committee on Ways and Means, CBO examines the following questions:

• What are the consequences of unemployment?
• What factors have caused high unemployment?
• What policies would increase demand for workers?
• What other policies could reduce unemployment?

Please read full at:
http://cboblog.cbo.gov/?p=3333