Long-term jobless could turn recession into more painful, extended downturn

published 05.10.2020 15:29

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In the entertainment field where Valiente worked and in other sectors that absorbed heavy job losses – from restaurants and hotels to energy, higher education and advertising – employment remains far below pre-pandemic levels.

People who have been jobless for six months or longer – one definition of long-term unemployment – typically suffer an erosion of skills and professional networks that makes it harder to find a new job.

And while the number of job openings has declined by about 17% compared with a year earlier, according to Glassdoor, it remains far higher than during the Great Recession.

Even among some people who have managed to land new jobs, the pandemic recession has upended their financial lives.

But before the pandemic, Grimley had received a new job offer as a conference and event manager at a marketing company involved in healthy parenting products.