The fraction of those now jobless who have been without work for six months or more stands at a very high level. And, in addition to those officially unemployed, many individuals are involuntarily working part time or have dropped out of the labor force entirely.
BIS central bankers’ speeches  1  U.S. economic growth was particularly anemic in the first half of this year, when real GDP rose at an average annual rate of less than 1 percent. Two factors, both largely transitory, played a notable role in depressing growth and in boosting inflation during the first half of the year.