Average Duration Of Unemployment: Second Highest Ever At 40.8 Week

Tyler Durden's picture

The NFP report confirms the picture we have all known to grow and love - the people "entering" the labor force are temp workers, those with marginal job skills, and making the lowest wages. For everyone else: better luck elsewhere: the number of people not in the labor force has soared by 7.5 million since January 2007, and the average duration of unemployment is 40.8 weeks - essentially in line with last month's record 40.9. Bottom line - if you are out of a job, you are out of a job unless you are willing to trade down to an entry level "temp-like" position with virtually no benefits or job security.

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Clam McCain's picture

good for a 2% day in the DOW

 

GeneMarchbanks's picture

Healthy lookin' chart...

Somehow I have to believe this, too, is cooked.

Sandy15's picture

YES..... hello, I have been saying since the Occupy movement started, the employment numbers will go down.  It's temp work funded by our tax dollars......  Let it snow and see what happens when the Occupy people don't live in tents for money.

Sandy15's picture

Why would someone give this response a negative rating?  The truth is the truth........ it's on video where people have admitted to getting paid.  SO IT IS TRUE!!!!

Confused's picture

I saw it on TV/Read it on the web/youtube!!!

 

If  I can't investigate it myself, I don't believe it.

Confused's picture

And I'm NOT the one who junked you.

yabyum's picture

proof and link. PLEASE

Cdad's picture

Funny...on Bloomberg [ug...wish I had not listened to it], Betty described this number as...wait for it..."Blow out!"

BlueStreet's picture

A nation of burger flippers.  Is there a problem with that?  Everyone needs to eat.  

Irish66's picture

but they keep saying they can't find qualified workers......bs

SheepDog-One's picture

Hooray! A nation of unskilled temp retail workers! Lets buy some stawks!

RobotTrader's picture

Wow.

 

When that statistic turns around and heads in the other direction.

We'll be at 15,000 soon.

tmosley's picture

When gravity reverses, I'll be a space-bird.

smlbizman's picture

and if my aunt had....never mind...

Zero Debt's picture

Fun fact: less than 1% of hopium users admit they have a "drug problem".

joq's picture

The Obama report, election year, let's roll, and let's destroy the whole American middle class, lie and plunder them for generations, and keep lying to them and enchant them into ignorance with our media lies and seduction. I am not an American but you guys need to kick him out of office soon.

JPM Hater001's picture

I'll get right on that.  Gene.  You free this afternoon?  joq here wants us it kick Obi out of office.  See, why didnt we think of that?

joq's picture

I don't think he will be kicked out though, when push comes to shove, you have only one other reasonable alternative, Ron Paul, but the media will destroy him before election. Shut down your traditional news channels before you vote.

James-Morrison's picture

TPTB need the stability of an eight-year, two-term President.

Why do you think they sent in the B Team of Republican misfits instead of the A Team and systemically ignore Ron Paul?

Let the people choose. Yea right...

JPM Hater001's picture

Im sure the POTUS will fix this too.  I bet if we put them on trains and sent them somewhere to work...now where did I put those FEMA camps?

RobotTrader's picture

Check out the 3-year run in retail stocks.  What a huge run.

 

http://bigcharts.marketwatch.com/kaavio.Webhost/charts/big.chart?nosetti...

JCP and TGT warnings yesterday totally shucked off.

Macy's has run from $7 to $34 non-stop since March 2009.

 

Hedgetard55's picture

Robo I do not know why people bash you here. You have the best hindsight of any poster, and can cherry pick data like a mofo. You should start a new group, "The Cherry Pickin' Daddies".

Everybodys All American's picture

Wait until these employers learn they have to pay for the health care of these full time workers in 2012. The temp job is here to stay if that is indeed the work around to the new health care laws. All in all todays report looked good for a December but what lies ahead is not going to be much to get excited about. Stay alert.

Vergeltung's picture

completely jobless "recovery"?

Snakeeyes's picture

NFP beat of 200k is pretty good, but unemployment is still too high *(13.1 million) and that 40.8 weeks of unemployment is horrible!!!

http://confoundedinterest.wordpress.com/2012/01/06/unemployment-rate-fal...

Sandmann's picture

Looking on the bright side, how long do you think it will take Obama to find a new job ?  Surely Wall Street and the Hedgies are lining up their offers for his outstanding service to their interests over the past 4 years ? Who has Goldman lined up as their New Man in The White House ?

Shizzmoney's picture

Really goes to show as there are two Americas, there are also two economic markets - the one that rich people trade in, and the one motherfuckers actually live in.

I got hired last year.  I have a (crappy) benefits package.  But at least I have one; I'd say 30% of my friends who have jobs, actually have benefits.  And that number is only that high b/c you have to have Health Insurance in MA.  But the only "strong' sector in MA, are the temp agencies.  We have the smart, educated workers - we also have smart, frugal businesses. 

Here's an anecdote that sums up the situation well:

At my job, I work with a guy who is a trust fund baby (and is still a baby despite being 50 years old) who inherited his father's lumber business fortune.

This is a guy who whines constantly at his job, despite having season tickets to the major teams in the MA area, a home on a sweet penisula town on the North Shore, and a loving family is can actually afford (unlike people my age bracket, 18-30).  But this is neither here nor there.

He almost hit the HR person car in the parking lot this morning.  They place the blame on each other.  He claims the HR person was driving too fast.  HR person then says, "Well, it's a good thing you looked up from your cell phone!".  Of course, he denied being on it, but *I* know this guy.  He was on it; just wouldnt admit it.

That's America, especially well-to-do America, in a nut shell.  No accountability.  Kick the can down the road, and do both in a backhanded way.  The Baby Boomer generation, the one running the country now, is the most selfish generation that grew the last 20+ years on greed based on debt and consumerism, not real growth of wealth. 

Need proof?  Just look at the kids they have raised (me included).

Anonymouse's picture

Happy to report that in 49 hours my unemployment period ends.  And only after a mere 206 weeks (and intercontinental relocation).

Well, that and a cut in pay and responsibility to where I was 15 years ago

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