“US temporary job losses are declining, pushing the unemployment rate down from 14.7 per cent in April to 10.2 per cent in July.
“But on both sides of the Atlantic, the improvements are showing worrying signs of petering out.
“’This is slowly morphing into a long-term unemployment problem,’ said Jay Shambaugh, a fellow at the Brookings Institution and former White House adviser, noting that 5 per cent of the US workforce had now been unemployed for more than 15 weeks…”