The unemployment rate continues to stagnate at 10.2 percent, according to the latest available date, but the problem is actually much worse than that number conveys according to the Mercatus Center. One additional important measure of economic health is the duration of unemployment, as shown in the above chart. During better times, the time someone is unemployed is short and the reverse is the case in bad recessions. From 1950 to 2000, 12.4 percent of those who were unemployed had been out of work for 27 months or more. Contrast that with last month, when 44.1 percent of the unemployed had been out of work for 27 weeks or more. This provides us with yet another backdrop for assessing the effectiveness of the numerous interventions undertaken by the Bush and Obama administrations, to put it charitably. For more on this click here.
- Deepwater forgot to read PBN
- Windy Pork
- Just in (no surprise): voters want more choice and accountability in education
- Another low ranking for RI
- Tax Day Rally
- Somebody has to sell it
- In case you missed it, and so you don’t
- Too risky for me but not for thee?
- ‘There are lies, damn lies – and statistics.’
- From our friends in the US House