Average Duration Of Unemployment Approaching One Year

[Bryan Hancock]

So the numbers on the job market came out today and they aren't good. I am sure things like Japan and some of the domestic disasters hurt the numbers, but they are still horrible by all accounts. The following link lists people not in the labor force that want a job and the average duration of unemployment:

The Real Unemployment Picture

The average duration of unemployment is now at 39.7 WEEKS! Wow! To put that in perspective....the previous highs were around 20 weeks or so...so we are around twice as bad as the past recessions on record.

These numbers are staggering to me. Any thoughts on what can be done to correct them?