What is the only thing worse than unemployment? Long-term unemployment

What is the only thing worse than unemployment? Long-term unemployment, apparently. If you lose your job, there are a bunch of hardships you are inevitably going to endure until you find a new one. If you do not find a new one in a hurry, you may face the additional hardship of not finding one for an increasingly long period of time. Employers, it seems, view people who have not held a job with an eye that increases in wariness in proportion to their joblessness.

The insights come from an upcoming paper by Swedish economists Stefan Eriksson and Dan-Olof Rooth, which is to be published in the American Economic Review and was quoted in a blog in this week’s Wall Street Journal. The economists used Swedish data on calls returned to job applicants, sorting job seekers by duration of unemployment. What they found was that being unemployed for a short period of time made no difference at all to job seekers’ prospects, but that being unemployed for longer did.

Chosen excerpts by Job Market Monitor. Read the whole story at 

via How long-term unemployment is affecting the job search – The Globe and Mail.