Unemployed And Stuck

Longterm

Building off Annie Lowrey's reporting, Ezra makes an obvious point about the long-term unemployed:

My hunch is that this interaction between housing prices and labor mobility is at the heart of a lot of the rise in long-term unemployment. Areas where there are no jobs are also areas where the housing sector is devastated. So the people who are there can't sell their homes, which means they can't move to places where there are jobs, which means they just get stuck in this endless unemployment cycle. They've applied for what little is available, and until they're willing to walk away from their mortgage, they're just stuck without a job.