The Quality of Jobs: The New Normal and the Old Normal - NYTimes.com - 0 views
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Despite 42 consecutive months of gains in private-sector employment, the unemployment rate is still at 7.3 percent; in December 2007 it was only 4.6 percent. The current unemployment rate is higher now than in 2007 across all age, education, occupation, gender and ethnic groups.
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That’s despite the fact that about four million workers have left the labor force, driving the labor force participation rate to a historic low
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Although the share of the long-term unemployed has fallen from its peak of 45 percent in 2011 to 38 percent today, it is still far above its 2001-7 average. And about eight million people are working part-time for “economic reasons,”
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