As hiring slows, more Americans are job hunting for months: "It's going to take a small miracle"

Not so good news.


As hiring slows, more Americans are job hunting for months: "It's going to take a small miracle"

https://www.cbsnews.com/news/employment-job-market-surge-in-long-term-unemployed-workers-economy/
Updated on: October 3, 2025 / 11:25 AM EDT / CBS News


....................

And while the nation's unemployment rate remains historically low, at 4.3%, the share of Americans defined as long-term unemployed — or those unemployed for 27 weeks or longer — has risen to 26%, the highest in more than three years, labor data shows.

As of August, the number of long-term unemployed people had risen to 1.9 million, according to government data — the highest level since 2021, when the nation was still reeling from the pandemic.

A surge in long-term job seekers

As U.S. job growth has slowed, the number of unemployed Americans who have searched for work for more than 27 weeks has soared in recent months, data shows.
With the job market faltering in recent months as employers put the brakes on hiring, more workers are being sidelined for months on end, economists told CBS News.

"We're continuing to see this low-hire, low-fire environment," said Laura Ullrich, Indeed's director of economic research for North America and a former official at the Federal Reserve Bank of Richmond. "There aren't really new jobs being opened up for people — there isn't room for new people to come in.".....................................
..........................

Link to tweet