While employment numbers are gaining traction as the economy improves, the prospects for remain bleak for the long-term unemployed. A recent study published by three Princeton University economists suggests that these workers do not have a great chance at gaining full-time work.
Essentially, the economists believe that only 11 percent of workers unemployed for six months or more will find steady work. In fact, a large majority of the long-term unemployed simply give up and stop looking for work. This contributes to the continuing unemployment rates in areas where it is a problem. Indeed, some long-term unemployed have reached retirement age or have obtained disability benefits. However, when considered in light of the 3.8 million Americans who stand unemployed for this amount of time, it should be considered a crisis that must be addressed.
Because of this likelihood, employees who are mired in discrimination lawsuits with their employers should keep this in mind when considering settlement offers. There is a certain amount of money that can be awarded for the wrongs committed against them, but there are bills that still need to be paid while the case is pending, and the employee also has to secure another position. As such, consultations with experienced employment law attorneys are helpful in determining what a reasonable settlement offer would be given a person’s individual circumstances and chances of winning at trial.
In the meantime, the number of people unemployed for more than six months has tripled since 2007, and it does not appear that it will return to pre-recession levels anytime soon.
Source: AZCentral.com “Grim outlook for long-term unemployed,” Josh Boak, Mar. 21, 2014