long term unemployed

Alternative Unemployment Rate is 16.6% and Other Scary Unemployment Statistics

April brings showers and yet another sad employment report. The new official unemployed tally is 12,500,000 with an unemployment rate of 8.1%. We calculate below an alternative unemployment rate of 16.62%, which shows 26.72 million people need a full-time, real job.

The January Employment Report Shows Things Aren't as Rosy as Some Want to Believe

While the pundits and press gush over this month's employment report, things are still not rosy. The new official unemployed tally is 12,758,000. The average length of unemployment is still very high, 40.1 weeks.

 

average duration unemployment

 

People unemployed for 27 weeks or more is now 42.2% of the total unemployed, or 5,518,000 million. This number has barely budged as a percentage of total unemployed in comparison to pre-recession and historical levels.

Unemployment Duration Decreased -2.72% , Those not counted Wanting a Job Increased in October 2011

The October unemployment report is yet another disappointment, with not enough jobs to keep up with population growth. The jobs situation has been dismal for 46 months. While the average time being unemployed decreased -2.72% from last month, the length of unemployment is still at record highs.

 

Duration of Unemployment September 2011 Increased 4.96%

The September unemployment report is yet another disappointment, with not enough jobs to keep up with population growth. The jobs situation has been dismal for 45 months. Now we have a new record, the average duration of time being unemployed is at record highs for as long as the BLS has kept track, 1948. Below is the graph, which looks like a time bomb.

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