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US Fed cautious over drop in jobless total U.S. Federal Reserve Chairman Ben Bernanke has warned that a long period of high unemployment could exact a steep social cost.
In a speech at Ohio State University Bernanke said that the high share of workers who have been out of work for six months or longer was troubling.
Those workers face difficulty in re-entering the labour market because they may lack skills and employers may question their suitability for employment, he added.
Bernanke also said the elevated jobless rate made businesses and households reluctant to spend.
More about: Federal Reserve, Jobs, USACopyright © 2012 euronews
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