Friday, November 2, 2012

Recovery-less Recovery: Unemployment Duration October 2012

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

Today's employment situation report showed that conditions for the long term unemployed worsened in October remaining epically distressed by historic standards.

Workers unemployed 27 weeks or more increased to 5.002 million or 40.6% of all unemployed workers while the median number of weeks unemployed climbed to 19.6 weeks and the average stay on unemployment rose to 40.2 weeks.

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.