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More Americans are stuck without work for longer:
The number of Americans unemployed for 27+ weeks rose by +155,000 in May to 1.99 million, the highest since December 2021.
YoY, this figure has surged +524,000, the largest annual increase since August 2021.
As a % of unemployment, this metric is up to 27.5%, the highest since December 2021.
This percentage has risen +9.0 points since the start of 2023 and is now above every post-recession peak, excluding 2008 and 2020.
An increasing number of Americans are struggling to find employment.

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