unemployed

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.

July 2011 Employment Disappoints But Stops Chicken Little in His Tracks

The July unemployment report is yet another disappointment, with not enough jobs to keep up with population growth. The jobs situation has been dismal for 43 months or over three and a half years. Yet those thinking Economic Armageddon Redux was suddenly upon us, literally crashing the BLS server to get the news, were sorely mistaken.

Earlier we reviewed the July 2011 BLS employment ratios. While not the Armageddon Wall Street was expecting, it's clear the job crisis has not dissipated. Both June and May new jobs numbers were revised upward, but not enough.

The change in total nonfarm payroll employment for May was revised from +25,000 to +53,000, and the change for June was revised from +18,000 to +46,000.

Let's drill down deeper into the numbers to show just how badly America needs good jobs.

There are 13,931,000 people officially unemployed, and if one takes the alternative measure of unemployment, it's 24.7 million.

Job Openings for April 2011 are Down -4.8% from March

JOLTS stands for Job Openings and Labor Turnover Survey. The April report shows there were 4.6 official unemployed people hunting for a job to every position available. There were only 2,972,000 job openings for April 2011 and a -4.8% drop from the previous month. Below is the graph of job openings per the official unemployed.

 

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