Laid off workers are finally having luck finding new jobs, reports Ben Leubsdorf of The Wall Street Journal.
Some 7.4 million people lost jobs between January 2013 and December 2015, including 3.2 million who were laid off from positions they had held at least three years, the Labor Department reported Thursday in its biennial survey of displaced workers. That was down from 2011 through 2013, when 9.5 million people lost jobs including 4.3 million long-tenured workers.
Even with a new job, issues remain for laid-off workers, however.
Still, the scars of unemployment linger for years to come, even for people who lose a job during an economic expansion. Laid-off workers usually take a pay cut when they return to work, and their wages can remain depressed for years or even decades. Many also suffer financial, psychological and other damage.