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Posted April 18, 2013 by

4.6 Million Americans Searching for Jobs for 27 or More Weeks

John Challenger of Challenger, Gray & Christmas

John Challenger of Challenger, Gray & Christmas

June will mark the four-year anniversary of the official end of the Great Recession and, unless there is a significant shock to the economy, it will be the 40th consecutive month of private-sector payroll gains. Yet, millions of chronically unemployed Americans the job market have yet to see any improvement; a trend that could have dire consequences for the long-term health of the entire economy, according to one employment authority.

“The longer one is out of work, the more difficult it becomes to achieve job search success. And, unfortunately, this is a situation that has not reversed, despite steady improvement in the overall job market,” said John A. Challenger, chief executive officer of Challenger, Gray & Christmas, Inc., the global outplacement firm, which provides employment transition counseling to individuals following job loss. (more…)