Friday, December 02, 2011

Recovery-less Recovery: Unemployment Duration November 2011

Be sure to bookmark the "Scary Unemployment Dashboard"... it's live.

Today's employment situation report showed that conditions for the long term unemployed were mixed in November and remained epically distressed by historic standards.

Workers unemployed 27 weeks or more declined to 5.691 million or 43% of all unemployed workers while the median number of weeks unemployed increased to 21.6 weeks and the average stay on unemployment increased to 40.9 weeks, the highest level ever recorded.

Looking at the charts below (click for super interactive versions) you can see that today’s sorry situation far exceeds even the conditions seen during the double-dip recessionary period of the early 1980s, long considered by economists to be the worst period of unemployment since the Great Depression.