Posted on 02/05/2010 6:46:10 AM PST by TigerLikesRooster
Average Duration Of Unemployment Hits Brand New Record In January
Joe Weisenthal | Feb. 5, 2010, 8:51 AM
Now this is not good news on the unemployment front.
/snip
The average unemployed worker is now unemployed for 30.2 weeks, compared to 29.1 weeks in December and 28.6 in November.
There are now 6.3 million Americans who have been unemployed over 27 weeks.
(Excerpt) Read more at businessinsider.com ...
| Table A-12.Unemployed persons by duration of unemployment | |||||||||
| HOUSEHOLD DATA | |||||||||
| Table A-12. Unemployed persons by duration of unemployment Numbers in thousands | |||||||||
| Duration | Not seasonally adjusted | Seasonally adjusted | |||||||
| Jan. | Dec. | Jan. | Jan. | Sept. | Oct. | Nov. | Dec. | Jan. | |
| 2009 | 2009 | 2010 | 2009 | 2009 | 2009 | 2009 | 2009 | 2010 | |
| NUMBER OF UNEMPLOYED | |||||||||
| Less than 5 weeks | 4,137 | 2,871 | 3,464 | 3,633 | 2,938 | 3,131 | 2,774 | 2,929 | 3,008 |
| 5 to 14 weeks | 4,044 | 3,335 | 3,698 | 3,622 | 3,838 | 3,671 | 3,517 | 3,486 | 3,362 |
| 15 weeks and over | 4,828 | 8,534 | 8,986 | 4,762 | 8,405 | 8,804 | 8,976 | 8,969 | 8,945 |
| 15 to 26 weeks | 2,086 | 2,638 | 2,563 | 2,073 | 2,958 | 3,184 | 3,075 | 2,840 | 2,632 |
| 27 weeks and over | 2,742 | 5,896 | 6,423 | 2,689 | 5,447 | 5,620 | 5,901 | 6,130 | 6,313 |
| Average (mean) duration, in weeks | 18.8 | 29 | 28.9 | 19.9 | 26.5 | 27.2 | 28.6 | 29.1 | 30.2 |
| Median duration, in weeks | 10 | 20.2 | 18.6 | 10.6 | 17.8 | 19 | 20.2 | 20.5 | 19.9 |
| PERCENT DISTRIBUTION | |||||||||
| Less than 5 weeks | 31.8 | 19.5 | 21.5 | 30.2 | 19.4 | 20.1 | 18.2 | 19 | 19.6 |
| 5 to 14 weeks | 31.1 | 22.6 | 22.9 | 30.1 | 25.3 | 23.5 | 23 | 22.7 | 22 |
| 15 weeks and over | 37.1 | 57.9 | 55.6 | 39.6 | 55.4 | 56.4 | 58.8 | 58.3 | 58.4 |
| 15 to 26 weeks | 16 | 17.9 | 15.9 | 17.3 | 19.5 | 20.4 | 20.1 | 18.5 | 17.2 |
| 27 weeks and over | 21.1 | 40 | 39.8 | 22.4 | 35.9 | 36 | 38.7 | 39.8 | 41.2 |
| NOTE: Updated population controls are introduced annually with the release of January data. | |||||||||
P!
Guidance on Differences in Employment and Unemployment Estimates from Different Sources
There are three kinds of lies: lies, damned lies, and statistics.
Benjamin Disraeli
The % above 27 weeks is over 41%. The previous worst was 26% during the early 1980s.
Note the vastly higher number of people “unemployed for 27 weeks or longer” compared to “15-26 weeks” in every single category, which agrees with what many of have seen — if you don’t get a job right away, you’re out of the game for good.
I was unemployed for 9 weeks before I got a job offer. I thought that was an eternity — I’ve never been without a job for more than a week or maybe two. It would end up being 12 weeks by the time I packed up and relocated.
Most of my former colleagues who still live in CA (I packed up and moved to TX) are still unemployed. That puts them at the 33 week mark :(
A few thoughts:
No one is hiring. Who would right now?
Lots of older folks (those of us in their 50’s & 60’s) are saying, “Screw it! I’m done.” and are adjusting their lives downward and not even bothering to look for work anymore, other than something part-time to amuse themselves. (A good portion of my work staff is retired folk...I’m going to have the pick of the crop this season; bank on it!)
Factor in TEEN unemployment and those fresh out of college and it’s off the charts! My son, 22, has been unemployed for two months now; granted, he’s working odd-jobs for cash where he can and does some work for my husband, but he’s not done with college, so he’s stuck right now finding something that pays above $8 an hour in our area. IMHO, he could look HARDER, but why? The rest of us SAPS will support him through our tax dollars...BUT, Wisconsin is running out of money for UC by April; spring around here is going to be ugly!
Thanks for the ping.
January 21st was “one Year” for me and I don’t see any prospects in the near or far future!
About to lose the home that I have been paying on for over ten years now!
Fabulous post. This has been the DEFINING feature of this depression. Everyone is looking at the raw unemployment numbers, but it is duration of unemployment that really tells the tale here. There are no jobs. People are burning through savings, 401ks, selling assets, scaling back, moving back with mom and dad, doing without.
There are no new jobs.
Great post. Says is all. Thanks.
We are getting a flood of retirements. Enough so that it will minimize eventual layoffs.
btt
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.