The U.S. Bureau of Labor Statistics has announced it is changing how it records unemployment data figures because of what it calls an “unprecedented rise” in long-term unemployment. Beginning on Saturday, the federal government will raise the upper limit on how long someone can be listed as having been jobless, from two years to five years. Economists say the change could help them better measure the severity of the nation’s economic crisis.
“Unprecedented Rise” in Long-Term Unemployment Forces Accounting Change
HeadlineDec 29, 2010