Long-Term Unemployment

The major problem with the graph below is that long-term unemployment like this is likely to translate into high structural unemployment. That means unemployment that is not cyclical and caused by a recession (it will last far longer than the recession), nor it is merely frictional which is temporary unemployment caused by people shifting from one job to the next. When people are unemployed for a long time, their skills depreciate and they become less employable. As they get used to being unemployed, that situation becomes more acceptable to some of them and many people lose some of their motivation to keep up the difficult job of searching for new employment.
Economist's View

[Calculated as the this divided by the this.]