By Binyamin Appelbaum
From The New York Times
Our economic malaise has spurred a wave of research about the impact of unemployment on individuals and the broader economy. The findings are disheartening. The consequences are both devastating and enduring.
People who lose jobs, even if they eventually find new ones, suffer lasting damage to their earnings potential, their health and the prospects of their children. And the longer it takes to find a new job, the deeper the damage appears to be.
Not since the Great Depression have so many Americans been unable to find work for so long. But researchers have turned to the next-worst period, the early 1980s, to seek a better understanding of the likely damage.