01/28/2011 - And the hits just keep on coming....
In its periodic update on the scourge of long-term unemployment, the Pew Charitable Trusts notes the percentage of Americans out of work for a year or longer is "roughly equivalent" to the population of Kentucky.
For those who haven't brushed up on your geography lately, that translates into approximately 4.2 million people or 30 percent of the 14 million Americans that are still out of work.
In its analysis of Labor Department data, Pew found that the highest rate of prolonged unemployment since World War II transcends the boundaries of age, education and industry.
Pew estimates benefits paid out as a result of the jobs crisis will set the U.S. Treasury back $129 billion by the end of 2011.
Read the full article Long-Term Jobless Rate the Worst Since World War II on the St. Louis Post-Dispatch Web site.