Skip to comments.Unemployment Rates and Duration of Unemployment
Posted on 04/04/2010 2:10:34 AM PDT by TigerLikesRooster
Even during the high unemployment in 82-83, the average time between jobs wasn’t nearly as bad as it is now. I fear for what we’ll face when the “double dip” hits later this year.
Well, my “man in the street” report from the heart of Dixie has lots of “change” but darn little “hope...”
Shopping centers & strip malls are emptying out, and the one local enclosed mall seems to be the haunt of teenage hookers- some might call that “a feature, not a bug,” but not me. I see the personnel from the stores out in the commons, talking to each other- something you don’t do if you have customers.
“First month’s rent free” and “ask about our new, low commissions” are common on commercial real estate.
The real estate office of the most prestigious Realtor is shuttered, and the real estate sales offices on the way to where my wife used to have a job have no cars in their lots. Lots of “for sale” signs on brand-new houses.
The employment service where we were going to submit resumes? Closed, a while back while we were polishing them...
Down the street from us, an Urban Horror named ___ Villages has been taking shape— we have a large influx of people, who having contributed to the ruination of our big cities by voting liberal, are fleeing the crime, taxes, over-regulation and general oppressiveness of the same... but you see, they have fears, err, “issues” that must be addressed for their mental well-being.
One is hurricanes, another, fear of rubbing elbows with locals, particularly us rednecks and those folks of the colored persuasion...
So the answer to assuaging these terrors is to build 4 and 5 story steel, glass, and concrete towers of “townhomes,” with gated access to keep the riffraff at bay.
( The Urban Horror named ___ Villages stands now chained and abandoned. )
Some even have earthworks surrounding them... like the billion-dollar condo conversion also down the street, which is being pursued for nonpayment of taxes, and “nonperformance.” They kept taking people’s money, but never quite got around to building what they had promised.
My guesstimate is one out of five unemployed- often after going through multiple jobs that also did not pan out. Among black youths? About 50%.
A quip I read a while back sums it up aptly:
“The New Wealth?
Having a job...”
Those people fleeing the urban horrors are most likely teachers retiring at 52 or civil servants on disability for stress.
Nobody else can afford to buy.
The persistent trouble in construction and manufacturing is the cause. I believe the same graph by gender would look worse.
For many years folks have been wondering just how long we can “make it” just providing services for each other and paying taxes to support gummint jobs. Now we know...
Chart #2 shows two lines each for 1%,etc. I suspect that his formatting truncated the real values of 1%, 1.5%, etc.
I figure a lot of 'em must be retired government employees- you know, the ones who worked 20 years, retired with a pension, then got another 20 year gooberment job, another retirement package, and are doing a lot better than us drones.
No one else could afford the prices around here.
“The New Wealth” Having a job — is absolutely correct. I am blessed with a secure job. I could retire and start pulling a check in November;and was planning on it a couple of years ago. I’m not even considering it now. Too many bad, destabilizing things in the the pipeline.
Great graphs; thanks for posting them. I’ve heard some folks saying that the “new normal” is going to be persistent unemployment around 8% to 9% - at least so long as we continue to “suffer” under current conditions.
Thanks for the ping.
Those duration charts are flat ugly. Who knows how long this will go on or how high they will go.
This may be a “mild” depression, but it is definitely a depression we are in. The effects aren’t quite as severe as the opening salvos of the Great Depression due to the numerous government safety nets today. But make no mistake, we are in a depression.
Recovery my butt.
Are You Looking for a job?
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