Monday, August 8, 2011

Total Unemployment & Average Duration


Although the total number of unemployed Americans peaked at just over 16 million in January 2010, there are still over 14M American's currently out of work:



Although the total number of unemployed has improved from it's peak, the average unemployment duration of those currently out of work is 39 weeks and trending upwards, suggesting that the longer someone is unemployed, the further they are from finding a job. To put that into context, the average unemployment duration between 2001 and 2009 was only ~16 weeks:


What will happen when unemployment insurance extensions expire at the end of the year?

Data Source: BLS.gov

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