Average Duration of Unemployment Twice the Level of any Previous Peak Since Records Began in 1940s

There are so many ways to splice and dice how poor the underlying structure of the U.S. employment picture is, but Business Insider highlights this graph as one of the most striking.  The average duration of unemployment is now 40 weeks, which is just about twice the level of any other peak, including the ‘jobless recovery’ of the early 2000s.  The Great Recession lives on for many in this country ….

And also I’ll add the now infamous graph Calculated Risk blog puts out each month.  These type of data points show why it is laughable Wall Street celebrates an extra 30K jobs here, or 50K there.  We’re digging out of a black hole.  And this with a 10% annual federal deficit to boost the economy.  The scary thing is what happens when the next cyclical recession hits – the base we’re working off of, in terms of jobs versus population is already so low.

About Mark Hanna 543 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

Follow Mark on Twitter @fundmyfund.

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