Saturday, December 5, 2009

Job Data: Looking Beyond the Headline Drop

WSJ 12/5-6/09

"The average duration of unemployment grew by about two weeks, to 28.5 weeks in November--the highest on record. Some 38% of the jobless were deemed long term unemployed, meaning they had been without work for about 6 months or more. The ranks of discouraged workers--those who have left the labor force for lack of job prospects--swelled by nearly 60,000 to 357,000 last month"

separate WSJ article, same date:
"Adjusting for seasonal swings in hiring, the Labor Department said retailers shed 14,500 workers last month."

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