Long-term unemployment dips by another 70,000 people. Here’s what that means for job seekers

KEY POINTS

• Long-term unemployment declined by 70,000 last month to about 1.1 million people, according to the September jobs report issued Friday.
• The long-term unemployed account for 18.5% of all jobless individuals, down sharply from the pandemic-era peak over 43% in March 2021.
• The labor market is cooling a bit but remains robust for job seekers, according to labor economists.