Despite expectations that the Labor Department will report that employers added more than 100,000 jobs in November, a new study shows that most jobless will likely remain that way for the foreseeable future.
The study, conducted by the John J. Heldrich Center for Workforce Development at Rutgers University, says just 7 percent of those who lost jobs after the financial crisis have returned to or exceeded their previous financial position and maintained their lifestyles.
Researchers also found that most people who have found new work say it is less lucrative, and 15 percent say that reduction has been "dramatic" and most likely permanent.
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"The news is strikingly bad," Cliff Zukin, a professor of public policy and political science at Rutgers who compiled the study, told The New York Times. The numbers represent "a tremendous impression of dislocation and pain and wasted talent."
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The study, which began in August, 2009, followed a nationally representative sample of American workers who lost a job at the height of the Great Recession.
The study is further supported by figures from the Labor Department, which show that, more than two years after the recovery officially began, American employers have reinstated less than a quarter of the jobs lost during the downturn.
Of the 13.1 million people still searching for work, more than 42 percent have been unemployed for six months or longer. About 8.9 million more are working part time because they cannot find full-time work.
MarketWatch reports that its most recent survey of economists estimates that companies hired a net 125,000 workers in November, which would equal the average monthly gain over the past 12 months.
The U.S. unemployment rate is expected to remain at 9.0 percent.
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