Bernanke warns on long-term unemployment

Posted on November 30, 2010


Federal Reserve chairman Ben Bernanke on Tuesday warned current high levels of unemployment could become entrenched and have a “very long-term effect” on the US economy.

Describing job creation as “probably the most important economic issue facing America today,” Bernanke cautioned on the risks of long-term unemployment during a debate in Ohio.

With nearly 40 percent of the US workforce unemployed for more than six months, fears are growing that that high jobless rates may be more than a temporary result of a brutal recession.

via Bernanke warns on long-term unemployment.