NEW YORK (CNNMoney) -- Economists used to say an unemployment rate around 5% was normal, but the recession may have changed all that.
The new norm may now be more like 6.7%, according to a paper released by the Federal Reserve Bank of San Francisco Monday.
The report comes amid much discussion about what the "new normal" should be. Unemployment has remained above 9% for 21 straight months, and economists and policymakers, including Fed Chairman Ben Bernanke, have repeatedly said it's likely to remain high through the next several years.
And that spurs experts to ask, is high unemployment a permanent economic condition, or merely a temporary phenomenon?
Experts at the San Francisco Fed say a higher rate is probably temporary, but driven by some deep-seated structural issues.
Unemployment is staying high partly because of a mismatch between workers' skills and what employers are looking for, say John Williams, an executive vice president at the San Francisco Fed, and research associate Justin Weidner.
Roughly 44% of the unemployed have been out of a job for more than six months. Their skills deteriorate and it becomes even harder to find a job.
Add to that the housing bust, which left millions of homeowners underwater on their mortgages, and it's harder for workers to relocate to places where jobs are growing more rapidly.
All those factors may have raised the "normal" unemployment rate, Williams and Weidner say.
They also point to jobless benefits, which Congress has extended from 26 weeks to 99 weeks.
Kraft Heinz has abandoned its more than $140 billion bid for food and personal care products giant Unilever. But the company, which has Buffett as its largest investor, could still be interested in buying another big supermarket staple. More
It's still not clear whether millions of European Union migrants living in the U.K. will be permitted to stay in the country. More
Some Silicon Valley workers are going public with how their lives are changing under the new President as part of a new project from photographer and oral historian Helena Price called "Banned." More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
Pay yourself first; donate stuff you don't need to charity and remember to claim deductions; finally, cut your recurring expenses. More