click for ginormous graphic

Source: Economist

Another interesting datapoint worth discussing

Category: Data Analysis, Employment

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6 Responses to “Long Term Unemployed”

  1. DeDude says:

    I think this is very difficult to interpret without more information about the definition of “unemployed”. It is not clear if we are comparing apples to apples. I know that in Denmark government will provide you with a job after a certain period of unemployment so their long-term unemployed are limited by that. In the US our definition of the officially counted unemployed sort of kick people out of being unemployed even if they have not found a job after their benefits run out.

  2. hawks5999 says:

    So only Spain has had an increase in the percentage of long term unemployed that is comparable to the US at about +150%. Compared to Britain’s increase of +75%.
    I assume this means QE good, austerity bad, amirite?

  3. LeftCoastIndependent says:

    The real ugly pic is the demographics of the situation. Young adults and old adults are getting hit hard, but the U.S. inner city minorities under age 25 have been at 50% unemployment for 5 years now. Is there any end in sight?

  4. RW says:

    LeftCoastIndependent has it right: This is truly corrosive. A few thoughts …

    There is a significant swath of recent college graduates who are already four or five years behind in their career curve and, because the economy is still adding a lower number of new jobs to meet population growth, recovery from that setback is a problem for many. In the same vein there are many middle-aged adults with careers, assuming they still have one, that have simply stalled out; they are going nowhere and even forced to accept part-time at what should be their peak earning period.

    I would hope that at least a few Americans who voted conservative in 2010 are beginning to realize they may have made a serious error in misreading the tea leaves and elevating radicals to power at both state and federal levels but if that hope is incorrect then Republicans will hold the House and at least 36 states in 2014 and, thus encouraged, beatings will almost certainly continue unabated.

    In that case a Yellen Fed will probably continue QE and, if Stephanie Pomboy’s analysis is correct (and I think it is), corporate profits should hold up reasonably well in partial consequence but with scant demand from a chronically un- and under-employed populace coupled with a speciously (and superficially) parsimonious congress I genuinely don’t see any realistic economic growth path going forward; a hard reality the market will acknowledge in its own good time but to which the under-employed need no further introduction.

  5. [...] But can we get little help out here between flag waves and back slaps? [...]

  6. Greg0658 says:

    can’t find the link to an interactive chart (saw here at TBP)
    on China stats (if believable) from the WSJ
    I clicked3 – on trade deficit for year about $212B
    something else and
    Job applicant ratio to available positions = 1.08
    if my math skills are here – that means 800 folks show – up 1 goes home (probably a bad haircut)
    an overstatement (not by much) the USA = reversed