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Update on Unemployment


It seems that there is a strong link between my previous question on the duration of unemployment, and the age profile of the unemployed. My previous post showed that, in our great recession, the level of unemployment for the short term unemployed, is no worse than it was in the early 90s.



It is the long term unemployed who make up an increasing percentage of the total, and that is very worrying, because it implies long term problems. 

It was mentioned on the previous post that the complexity of modern jobs, and the level of training required, contributes to this situation. I think that's true, and is part of the overall picture that employers are unwilling to invest. Training is a part of investment.

This leaves us with a situation where experienced staff are okay, but younger folk find difficulty getting a first foot on the ladder.

Cam Hui had an interesting post today, that included the following chart:



These charts may be two sides of the same coin. If so, they point to yet another division in our society. Divided societies tend to end up in trouble.