3.4 million Americans are still long-term unemployed

A job fair at a community center in Beattyville, Kentucky on July 28, 2021.

Jon Cherry / Bloomberg via Getty Images

According to the Bureau of Labor Statistics, about 3.4 million Americans were long-term unemployed as of July, down about 560,000 from the previous month.

However, the number remains increased compared to pre-pandemic levels. Around 2 in 5 unemployed people are long-term unemployed, that is, they have been unemployed for at least six months.

The decrease came on the basis of a stronger-than-expected job report in July. The number of new hires rose the fastest in nearly a year when the economy added 943,000 jobs and the US unemployment rate fell to 5.4%.

The number of job vacancies rose to more than 10 million in June, the highest ever, the Labor Department reported on Monday.

The number of long-term unemployed is still 2.3 million higher than in February 2020. Almost 2.5 million people were unemployed for at least one year in July, compared to June by 406,000 people.

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