Friday, April 04, 2008

Some Bright News in Today's Labor Report

One bright spot in today's BLS employment report is found in Table A-9 - the median duration of unemployment fell to a 15-month low of 8.1 weeks in March 2008, the lowest level since December 2006, and matches the third lowest level in more than six years (see graph above). That means that 50% of those unemployed are finding employment within about two months, one of the lowest levels since 2001!

5 Comments:

At 4/04/2008 4:18 PM, Blogger spencer said...

Actually, the best news was that hours worked actually increased.

 
At 4/04/2008 7:05 PM, Anonymous Fred said...

Uh, no, spencer. Hours going up while unemployment is going up is an indication that employers see hard times (and layoffs) coming so, they will not hire more workers now.

 
At 4/04/2008 10:12 PM, Anonymous Jgillman said...

All this bad news.. Geez.. Better go tell the guys I'm laying them off... just to be sure.

 
At 4/05/2008 7:21 AM, Anonymous Anonymous said...

The bls needs to be renamed just BS.

 
At 4/07/2008 12:41 PM, Blogger Publius said...

At a Joint Economic Committee hearing on Friday, Keith Hall, Commissioner of the Bureau of Labor Statistics suggested that average unemployment duration has declined simply because more people have lost their jobs recently, and therefore a large number have only been receiving unemployment payments for a few weeks, driving the average time of unemployment down.

 

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