Pounding the Pavement: Long-term Unemployment, 1947-2012

One the most dismal consequences of the recession–which shows little sign of abating in the recovery–is the sharp rise in the mean and median duration of unemployment. While these numbers have always risen during recessions, they have never shot up the way they did after 2007 and stayed up so far into the “recovery.” Because these rates have been so high (over 10 percent of unemployed persons had been looking for work for more than 2 years in the fourth quarter of 2010), the BLS and the Census Bureau had to update their surveys to allow respondents to report unemployment durations of up to 5 years (the previous upper bound was 2 years).  The graph below runs through June 2012.

This entry was posted in Uncategorized. Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *