Read as much as you want on BostonGlobe.com, anywhere and anytime, for just 99¢.

Bernanke cites harm from long-term unemployment

WASHINGTON - Federal Reserve chairman Ben Bernanke reiterated his concern yesterday that chronic long-term unemployment threatens to reduce the nation’s supply of skilled workers.

In a second day of congressional testimony, he noted that the economic recovery has been slower than normal. But he said he doubts that the recession permanently reduced the economy’s growth potential.

Continue reading below

He said he did worry that more than 40 percent of America’s unemployed - 5.5 million people - have been out of work for more than six months. He said that if the problem persists, more of the long-term unemployed will lose skills and struggle to regain them.

Bernanke made his remarks as part of his semiannual report to Congress. He repeated his assessment that the pace of growth has been “uneven and modest by historical standards.’’

In his testimony, Bernanke has signaled that the Fed is in no hurry to begin raising interest rates from record lows.

Loading comments...

You have reached the limit of 5 free articles in a month

Stay informed with unlimited access to Boston’s trusted news source.

  • High-quality journalism from the region’s largest newsroom
  • Convenient access across all of your devices
  • Today’s Headlines daily newsletter
  • Subscriber-only access to exclusive offers, events, contests, eBooks, and more
  • Less than 25¢ a week