The Wrong Kind of Jobless Recovery The latest labor market data shows a decline in long term unemployment, but this trend is largely due to workers leaving the labor force rather than new job creation.
According to recent numbers, the number of people out of work for 27 weeks or more fell by 64,000 in July.
Economists are concerned that this drop in long term unemployment rates is not a sign of economic recovery but rather a reflection of workers' growing disillusionment with their prospects.