More signs of the depth of the weak U.S. employment market as the number of unemployed
for six months or more continues to increase in record numbers.
The Labor Department reported the number of American workers unemployed for at least
26 weeks has risen to 1.6 million, an increase of 37 percent in the past year -- with more than 18
percent of the unemployed searching for work for more than half a year,
In slightly good labor news, the number of workers filing new claims for unemployment benefits last week
posted its biggest drop in almost three years. Weekly numbers, however, are susceptible
to wild swings and seasonal conditions, so it's too early to really interpret what these
latest numbers mean.
