Wednesday, May 12, 2010

"Very Encouraging News..."

"And today, I'm happy to report that we received some very encouraging news... I should also note that the unemployment rate ticked up slightly from 9.7 to 9.9 [percent]." President Obama, May 7, 2010.

Unemployed More Than 6 Months
Median length of unemployment:

January 2009: 10.6 weeks
April 2010: 21.6 weeks
May 1983 (highest prior to April 2009): 12.3 weeks

Source: St. Louis Fed

1 comment:

Rick S. said...

I believe that around 66K of the 270K new jobs were temporary census workers and all but 10K of the remainder were determined by some business birth/death formula. The people I know that were unemployed are not finding it much easier to get a job now than they were 3 - 4 months ago.

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