More Unemployment

Currently, there are 5.1 million workers who have been unemployed for 27 weeks or longer.  These workers lose valuable skills during this time and it becomes harder for them to find work.  At the present time, these workers account for 41.3% of the unemployed.  By the way, the number of unemployed has fallen since 2008 by 1.4 million.

There are 7.9 million who are employed part-time because their hours have been cut back or they have been unable to find a full-time job.  The number working less than 40 hours a week has increased by .2 million since April.  This means that employers are working their best workers harder in what economist Oliver Blanchard calls, "labor hording." 

The WSJ reports that the number of discouraged workers is 968,000.  These workers have given up looking for a job.  There are 2.4 million workers actively looking for work but can't find any.