Bernanke Calls Unemployment “National Crisis”

Federal Reserve Chairman Ben Bernanke referred to the U.S. unemployment situation as a “national crisis” in a speech in Cleveland yesterday.

“This unemployment situation we have, the jobs situation, is really a national crisis,” Bernanke said in response to questions after a speech yesterday in Cleveland. “We’ve had close to 10 percent unemployment now for a number of years and, of the people who are unemployed, about 45 percent have been unemployed for six months or more. This is unheard of.”

Source: Bloomberg

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