The slow road toward economic recovery could be made even slower by the fact that nearly half of long-term job seekers came from the ranks of the white-collar workforce, according to a report Tuesday from outplacement company Challenger, Gray & Christmas Inc.
The inability of these higher-earning professionals and office workers to find jobs within 27 weeks will be an increasing drag on consumer spending and further hobble the economy, according to Challenger.
“White-collar workers make up about 60 percent of the labor force and their higher earnings give them spending power that is invaluable to the economy’s health. Prolonged joblessness among these workers will be a definite drag on the recovery,” says John Challenger, chief executive officer of Challenger, Gray & Christmas.
Long-term jobless hammers those who held white collar jobs
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