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US, Europe see a rise in long term unemployed
Oct 29, 2013


The Economist Long term unemployment continues to be a serious problem for the US and most of Europe. As per the Economist, long term unemployed has been defined as those out of work for more than 12 months. The problem is a vicious one feeding onto itself. People who have been unemployed for long are more likely to see their skills deteriorate since these are not put to use. This coupled with the fact that they are out of touch with new developments means that employers are not too keen on hiring them. For the developed world, this is all the more a challenge because they also face the issue of the aged population rising. And so bleak job prospects and unemployment puts more pressure on the governments for dole outs. Given that most of the governments in these regions are burdened with too much debt, getting out of such a sticky situation remains a tall order.

This Chart Of The Day was published in The 5 Minute WrapUp - How many CEO's call their stock price overvalued?

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