DES

A Closer Look at the Unemployment Numbers

Good charts & discussion. It would be interesting to breakout skill levels of "long unemployed" vs "short term unemployed". Are such individuals taking longer to find employment at prior compensation, or to accept lower compensation with more competition? Duration of unemployment used to be explained in terms of information costs leading to pervasive disequilibrium for some job seekers. With computerized employment data bases and so on, the information costs should be lower, which results in shorter unemployment.