US Job Market / “Jobless Recoveries” are likely in the future finds Brookings (Video)

In each of the three most recent U.S. recessions, the unemployment rate has stayed high for longer and longer durations, increasingly resembling the experience of many West European countries in the 1980s, according to a new paper presented today at the Fall 2013 Conference on the Brookings Papers on Economic Activity (BPEA). But the similarities do not end there, the paper finds: four other striking characteristics of the European experience have become increasingly pronounced in the U.S. over the course of the last three recessions: rising shares of long-term unemployment; an increasing incidence of disability claims during economic downturns; diminished disinflationary pressures; and low rates of convergence in regional labor markets.

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via BPEA Fall 2013: “Jobless Recoveries” Likely in U.S. Future, Much Like in Europe.