The average jobless American's unemployment spell surpassed 27 weeks in October on a seasonally adjusted basis, according to the Bureau of Labor Statistics jobs report released Friday. CNBC reported that this is the longest spell outside the pandemic period since 2016.
About 2 million Americans have been without work for at least 27 weeks. These "long-term unemployed" workers accounted for 27.6% of all jobless workers in October, the highest share since late 2021.
Cory Stahle, senior economist at the hiring platform Indeed, said the series "can be noisy from month to month," but that "if you look over a longer time horizon, there is no mistake in the trend."
Federal Reserve Bank of Richmond researchers wrote earlier this year that time spent unemployed "may itself reduce the probability of finding a job," citing skill depreciation, thinning networks and employer perceptions.
Most unemployment benefits end after 26 weeks, according to the report. Stahle said the average unemployed person now takes longer to find a job than benefits last.
The same report showed nonfarm payrolls added 165,000 jobs in October, above economists' forecasts. The unemployment rate fell to 4.1%, slightly below predictions. A separate BLS report released Tuesday showed September job openings above expectations and the quits rate at its highest level since March 2025. Layoffs and discharges fell to their lowest volume in more than a year.
CNBC also reported that Disney plans to cut thousands of jobs, and American Express said last month it would cut 5% of its headcount.