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Long-term jobless rate now 1.98%
The long-term unemployment rate, which soared in 2009 to heights not seen since the Great Depression, is finally declining rapidly. The proportion of the workforce that has been unemployed for at least 27 weeks has fallen to 1.98 percent, less than half the record high of 4.4 percent reached in 2010.
Since the end of 2013, "the long-term unemployment rate dropped 0.5 percentage point, thereby accounting for almost the entire decline" in the overall unemployment rate, two Federal Reserve Board economists, Tomaz Cajner and David Ratner, pointed out in a note published by the Fed last week.
As a result, for the first time in five years, less than a third of all unemployed workers have been out of work for at least six months. In the first six months of 2014, that figure dropped at the fastest rate in more than half a century.
New York Times
SHIP AHOY!
Today’s ship arrivals and departures:
HONOLULU HARBOR
AGENT |
VESSEL |
FROM |
ETA |
ETD |
BERTH |
DESTINATION |
MNC |
Maui |
— |
— |
6:30 a.m. |
52A |
Seattle |
PHT |
Jean Anne |
San Diego |
11 a.m. |
— |
32 |
— |
HL |
Horizon Pacific |
— |
— |
11:59 p.m. |
51A |
Tacoma, Wash. |