Expect the Average Duration of Unemployment to Skyrocket for Years

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by Mish Shedlock, The Street:

The average number of weeks people remain unemployed is on the rise and it will get much worse.
Sudden Layoffs

So many people were suddenly laid off in March and April that the average number of weeks people were unemployed plunged to 6.1. That was an all-time low.

Longer-term charts show more ominous trends.

Weeks Unemployed 1999-2020

Of Those Unemployed 1999-present for 2020-09

The average number of weeks someone is unemployed tends to peak long after a recession has ended.

A long-term chart shows this more clearly.

Weeks Unemployed 1948-2020

Of Those Unemployed 1948-present for 2020-09

Related Ideas

  1. Job Recovery Slows and Headwinds Mount for October
  2. The Airlines, Allstate, and Shell Announce Mass Layoffs 
  3. Death of the Department Stores and the Alleged Retail Recovery
  4. Little Progress on Unemployment Claims but Checks Grind to a Halt

Read More @ TheStreet.com

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