Federal Reserve Chairman Ben Bernanke said Tuesday that record levels of long-term unemployment will alter the U.S. job market for the worse for the foreseeable future. Bernanke said at a Senate Budget Committee hearing that the natural rate of unemployment -- or the level of unemployment that results when the economy is supporting as many jobs as it can -- has risen from about four percent in the early 2000s to more than five percent because so many Americans have been out of work for so long.
Ben Bernanke: Long-term Unemployment Crisis Altering Job Market For The Worse
The Huffington Post News Editors, Huffington Post
Tue, 02/07/2012 - 12:00pm
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