TWO AMERICAS: Jobs Report Exposes Plight Of Long-Term Unemployed

05/06/2010 05:12 am ET | Updated May 25, 2011
  • David Goldman, Staff Writer Mar. 6, 2010

"Whether you say the jobs market is improving or getting worse, there are people who will say you're crazy," said Lakshman Achuthan, managing director of Economic Cycle Research Institute. "That's because there are two Americas, and they're both right."

Of the 8.8 million who have been unemployed for more than 3-1/2 months, there are 3.5 million more now than there were at this point last year. And for this group, the job market is looking grimmer by the day. According to the Labor Department, a stunning 58.9% of jobless Americans have now been unemployed for more than 15 weeks -- an all-time high.

Read more on Mar. 6, 2010