Unemployed Workers Reach a Count of 248k

The total number of Unemployed individuals has increased from 248,000 to 2.9Mn in June 2021, reveal data from the Bureau of Labor. That represents that about 29% of all Unemployed workers have been without a job for more than a year. Around 24 states have ended the federal Unemployed benefits for the long-term Unemployed ones.

It is a difficult financial time for the households who have been the most affected due to this unemployment rising every day. They may also have experienced income loss, greater struggle in finding a new suitable job, and a reduction in the earning potential for the future.A jump in the 52-week unemployment, therefore, reflects the elevated layoffs a year ago. The numbers are likely to decline soon since the layoffs have been normalized by the month of July.

Those living without a job for an extended period are likely amongst the hardest-hit industries, like leisure and hospitality.The industrial category, which includes bars and restaurants, has been reported for 40% of the job gains in June 2021. However, the industry is still down by 2.2 million jobs which is 13% more than the pre-pandemic levels of 52-week unemployment.

Many households have primarily escaped the instant financial challenges of long-term unemployment during the Covid pandemic due to some improved unemployment benefits.States usually pay benefits for up to 6 months, but the federal government had extended the duration to three times during the pandemic in the separate relief measures.