The US labour market used to be whizzy. People would chop and change jobs at a furious pace, but not many stayed out of work for long. If you wanted to see countries sagging under the weight of long-term joblessness, you had to cross the Atlantic.
On the eve of the global downturn in 2007, 10 per cent of the US unem- ployed had been out of work for a year or more, compared with 25 per cent in the UK, 40 per cent in France and 57 per cent in Germany.
Times have changed. The sheer force of the recession has driven 8.2m out of work in the US and pushed the unemployment rate to the highest since 1983.
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