The American economy is experiencing a crisis in long-term unemployment that has enormous human and economic costs.

In this event, participants will review the Bhagat-Obreja paper and consider the role of uncertainty in major business decisions.

AEI's John Makin examines the consequences of German deflationary policies and Greece's probable exit from the eurozone in the latest Economic Outlook.

The official US unemployment rate hovers around 8.6 percent (8.5 % as of today), but a better measure of the real jobless rate is called the “U-6” which stands at 15.6 percent (15.2 percent as of today).

The recent improvement in payrolls and the unemployment rate are welcome news, but the plight of the long-term unemployed in the United States is considerable. The policies that have been executed since mid-2008 to foster an economic recovery have failed to deliver measurable results, and those most hurt by the current downturn are often the long-term unemployed.