Key takeaways: 

• Long-term unemployment fell by 274,000 in March, according to the Labor Department's monthly employment report issued Friday.
• Approximately 24% of all jobless people are long-term unemployed. That share struck a pandemic-era high of over 43% a year ago.
• A hot job market offers ample chances for workers as employers recruit outside their traditional labor pool.

The levels of the long-term jobless declined again in March, edging closer to pre-pandemic levels as the job market presents ample options for workers.

Long-term unemployment is a period of joblessness that stays 27 weeks or more (or at least six months). It's usually a financially unstable period for families in which it's more challenging to find a job and unemployment benefits are unavailable.

According to the Labor Department's monthly jobs report published Friday, long-term unemployed declined by 274,000 in March to 1.4 million.

In March 2021, the long-term jobless accounted for 43.2% of all unemployed people, a pandemic-era high and just shy of the record 45.5% set in April 2010 in the Great Recession.

By March 2022, the share had almost split to 23.9% and closed its pre-pandemic level of around 19% to 20%.

Robust job market

The improvement arrives amid a labor market that has been especially strong for workers.

Job openings (an arrow of employer need for workers) are near record highs, and layoffs are near record lows as businesses seek to hold onto their workers.