Washington D.C — A troubling trend is emerging in the U.S. economy that threatens to hit working-class people the hardest – persistent, long-term unemployment. According to the Bureau of Labor Statistics, 1 in 4 unemployed Americans have been without work for six months or longer, which is the highest it has been since the pandemic. This comes as cost-raising tariffs and the Republican Tax Law raise costs on everyday goods and cut vital programs such as Medicaid and SNAP that help working-class families afford basic necessities.
The effects of this long-term unemployment are wide-ranging and devastating. For instance:
- Nearly 2 million Americans have been unemployed for longer than six months – double the amount since 2023.
- Layoffs are rising, and weekly unemployment claims are at their highest levels since the throes of the pandemic in 2021.
- There are currently more unemployed people in the U.S. than there are job openings.
- Americans’ confidence at finding another job is the lowest it has been in a decade.
“From chaotic cost-raising tariffs to gutting Medicaid and SNAP to pay for billionaire tax breaks, Republicans in Congress are doing everything in their power to make life more unaffordable for working families while helping the super-rich,” said Unrig Our Economy Campaign Director Leor Tal. “While millions of Americans are struggling to find work and pay for everyday items like food and utility bills, we need our representatives in Congress to look out for all Americans – not just the ultra-wealthy.”
Below are additional stories highlighting this growing crisis in the economy:
- USA Today: Long-term unemployment hits 2-year high as hiring slows amid economic uncertainty
- The New York Times: The Newest Face of Long-Term Unemployment? The College Educated
- HuffPost: Long-Term Unemployment Rises In Worrying Sign For U.S. Labor Market
- The Washington Post: Long-term unemployment at post-pandemic high, straining workers and economy
- Axios: An important warning sign for the economy is flashing
To learn more about the campaign, visit UnrigOurEconomy.com or contact press@unrigoureconomy.com
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About Unrig Our Economy
Unrig Our Economy is a national campaign to fix the rules of our economy to make it work for working people. We know that when the middle class does well, all of us do well — which is why we’re fighting on behalf of working Americans and holding corporations, their wealthy executives, and the politicians who enable them accountable.