The long-term unemployed tend to be past age 50, and laid off from their last job….
“It seems the stigma of getting laid off puts people near the back of the jobs line. And then, once they’ve been stuck at the back of that line for six months, the stigma of long-term unemployment keeps them there forever. It’s a powerful, and depressing, reminder that we can’t afford to ignore the short run.
Sure, the economy will eventually bounce back on its own, but in the meantime, people who did nothing wrong other than working for companies that had to fire people during the worst crisis in 80 years might see their careers prematurely ended.