Consequences of high unemployment will linger, economists say

01/11/2012 | Wall Street Journal, The

The recession will have long-lasting effects on the workforce, creating a number of long-term unemployed and lower wages for those that do find work, economists say. For instance, workers who become unemployed during a recession lose an average of 2.8 years' worth of their pre-job-loss salaries over the course of their careers, according to two economists.

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