While we’re not back at the levels before the great recession unemployment duration has definitely fallen in the last few months.
As the graph shows unemployment duration has fallen from about 25 weeks to about 16 weeks for the average person. Of course there are certain jobs where the unemployment duration has fallen more than others.
In any event this graph is a good indication of how unemployment duration has improved in recent months.
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Dwight Steward, Ph.D.
Dr. Steward regularly writes and speaks on topics involving business and individual economic damages, employment audits, and the analysis of payroll and time data in wage and hour investigations. Dr. Steward has also held teaching positions at The University of Texas-Austin in the Department of Economics and in the Red McCombs School of Business, The College of Business at Sam Houston State University, and at The University of Iowa. He has taught numerous courses in statistics, corporate finance, labor economics, business policies, managerial economics, and microeconomics.
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