A Gray and Gloomy Job Market
The following chart is from Business Insider, which has deemed it the "new scariest jobs chart ever." Indeed, the story it tells is horrifying.
The graphic may appear a bit small on your screen, but the y-axis is the average duration of unemployment, and the x-axis is time by decade. The gray bands demarcate the official recession --those quarters during which GDP contracted--but as you can see, the mean time that an unemployed American spends looking for work has continued to skyrocket even after the "end" of the recession. There was a tiny downturn in the average duration of unemployment in 2010 --my guess is that the dip coincided with the temporary census jobs--but most people alive today will remember nothing at all like the current job climate in their lifetime.
It's a gray, rainy day here in San Francisco and I couldn't help but share the Monday gloom.
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May '10
Re: A Gray and Gloomy Job Market
I've seen another chart that shows the correlation between the number of weeks of available unemployment benefits and the number of weeks of unemployment. I wonder if the recent increase to 99 weeks has anything to do with this trend.
Mar '11
Re: A Gray and Gloomy Job Market
Hmm, a hockey stick - tell Mr Gore - an inconvenient truth, indeed!
Not to worry, Mr Obama wants to raise taxes for those nasty rich people, with their corporate jets and ATM's - I am sure that will fix the unemployment problem - oh, wait, isn't it those nasty rich people who employ the poor people? Time for fundamental change from capitalism.
And, according to Mr Murphy, we will have four more years of Mr Obama... Gee, Ricochet is the place to come to shake off the gloom...
Edited on Jul 11, 2011 at 12:05pmJul '10
Re: A Gray and Gloomy Job Market
And thus the systemic despair as people fall of the unemployment roles on the far side as the American labor force shrinks. Thank goodness we have Obama. Imagine if joblessness had gone above 7%. Oh. Wait....
Jul '10
Re: A Gray and Gloomy Job Market
David Williamson: Hmm, a hockey stick - tell Mr Gore - an inconvenient truth, indeed!
Not to worry, Mr Obama wants to raise taxes for those nasty rich people - I am sure that will fix the unemployment problem - oh, wait, isn't it those nasty rich people who employ people?
And, according to Mr Murphy, we will have four more years of Mr Obama... Gee, Ricochet is the place to come to shake off the gloom... · Jul 11 at 11:57am
Edited on Jul 11 at 12:01 pm
I'll call the IPCC in the morning. They've got a smoothing routine that will turn that frown upside down.
Mar '11
Re: A Gray and Gloomy Job Market
Scary indeed, Diane.
Hammer the point home, GOP!
Jul '11
Re: A Gray and Gloomy Job Market
The volume of anti-depressants I have prescribed for despondent unemployed individuals has never been higher percentage wise. To think that 5 years ago the topic was how to motivate employees by throwing confetti around the office and offering prizes for doing the work they were paid to do. The same employment so many millions do not have now and instead consume SSRI's to help the nights pass without massive ruminations of what was and may never be again.
Sep '10
Re: A Gray and Gloomy Job Market
@#1 Embarrassing. Stupid. 1000 people queue up for a single opening.
@#2 thru #4 The conservative echo chamber.
@# 5 And what would be the point be that the GOP would hammer home? Some listener might have the temerity to ask "and your idea would be what?" The answer would likely be limited to "we hate Krugman's ideas" or something to that effect.
Re: A Gray and Gloomy Job Market
@#7 Rude. But I'm nevertheless curious to hear what the Patrick-in-Albuquerque-approved response to this data is. It just makes me downright despondent.
Jun '11
Re: A Gray and Gloomy Job Market
I was kind of hoping we'd get a critique of Post #6 but in lieu of that, I would love to hear Patrick's thoughts on the data.
May '10
Re: A Gray and Gloomy Job Market
Patrick in Albuquerque: @#1 Embarrassing. Stupid. 1000 people queue up for a single opening.
@#2 thru #4 The conservative echo chamber.
@# 5 And what would be the point be that the GOP would hammer home? Some listener might have the temerity to ask "and your idea would be what?" The answer would likely be limited to "we hate Krugman's ideas" or something to that effect. · Jul 11 at 12:51pm
Patrick, your points here are more attacks than arguments, aren't they?
Jul '10
Re: A Gray and Gloomy Job Market
Patrick in Albuquerque: @#1 Embarrassing. Stupid. 1000 people queue up for a single opening.
@#2 thru #4 The conservative echo chamber.
@# 5 And what would be the point be that the GOP would hammer home? Some listener might have the temerity to ask "and your idea would be what?" The answer would likely be limited to "we hate Krugman's ideas" or something to that effect.
It's not as if there is anything new to discuss on this topic. The man came into office on an agenda of hiring unaccountable czars, expanding government employment, raising taxes, taxing carbon, subsidizing unrealistic green technologies, shutting down the domestic fossil fuel industry, nationalizing failed corporations, and publicly backing the Muslim Brotherhood. Who could possibly imagine it could go wrong???
Krugman's idea was to keep borrowing until things turned around and then declare victory. Genius! It didn't work in $4T, but the next $10T should do it. His prescription was effectively to keep borrowing until we can't! At that point you have to inflate your way out, busting the economy even worse.
The solution is to retire the man in 484 days, set an adult business environment, and stand clear.
Aug '10
Re: A Gray and Gloomy Job Market
Patrick in Albuquerque: @#1 Embarrassing. Stupid. 1000 people queue up for a single opening.
@#2 thru #4 The conservative echo chamber.
@# 5 And what would be the point be that the GOP would hammer home? Some listener might have the temerity to ask "and your idea would be what?" The answer would likely be limited to "we hate Krugman's ideas" or something to that effect.
Congratulations, Patrick. Substituting rude dismissals of other members' comments for actual argument has achieved what your arguments have not: I am now completely converted to you opinion and agree with you on everything.
Seriously, do try to be more polite. That means if you're going to snark, at least snark with more substance.
May '10
Re: A Gray and Gloomy Job Market
One last point, then I'll shut up: do people really "queue up" for things in Albuquerque? Here in northern California's Oaktown, we mostly "line up" for stuff. Just asking.
Dec '10
Re: A Gray and Gloomy Job Market
Hubby is packing up his office today after 30 years on the job. While he was there, he got another rejection notice for one of the four interviews he's had in the past month (after not having to interview for 30 years).
Depressing doesn't cover it. We're on the verge of terrified.
While the Left is worried about Paul Ryan sipping $350 wine, the only message we get from the administration is, we Americans been irresponsible (buying houses and borrowing too much) and we've had it too good. It isn't fair that Americans have been able to live the life of the well-off for so many years when there are poor brown people the world over. Of course, Obama has developed gray hair worrying over the unfairness of it all, but he'll keep his private jet for at least another 18 months and chances are he'll never fly commercial again.
I'll tell you what our current situation reminds me of. Remember that black woman who questioned Obama about his plans and asked him if she and her husband had to look forward to franks and beans? We're there now.
Oct '10
Re: A Gray and Gloomy Job Market
Disagree with your 1* point because it flummoxed itself. If there are that many people applying for one position, then its apparent that there is underutilized resources in terms of human capital because all those people want to work and cannot. With that eager a labor force, why wouldn't companies hire? Because it must not be in their interest due to other external forces preventing the market from working. Also, the people showing up for that position are job seeking and the unemployed includes people outside this specific category. It seems reasonable that the line would go off the chart if the dependent value maximum is half of the maximum duration of unemployment. What doesn't seem reasonable is your two-line critique.
Ann Coulter says we're not very good as conservatives with slogans. I'm confident EJHill could do some work with "GoProsperity" which aligns GOP. And the point is growth is the solution and the current policies and actions of this administration preclude growth.
Oct '10
Re: A Gray and Gloomy Job Market
Let the lexicon run free. I learned a new word Kervinlee.
Jul '10
Re: A Gray and Gloomy Job Market
Western Chauvinist: Hubby is packing up his office today after 30 years on the job. While he was there, he got another rejection notice for one of the four interviews he's had in the past month (after not having to interview for 30 years).
Depressing doesn't cover it. We're on the verge of terrified.
...
I recommend sending as many resumés out as you can, including a cover letter outlining what he can do for the company and any special knowledge or skills he brings that are of special value to that company. And stay active while watching the budget. Volunteer, do free or cheap events. Fear is the mind killer.
Best of luck.
Aug '10
Re: A Gray and Gloomy Job Market
1000 people where queue up for a single opening? Everywhere, or is this an anecdote about a few cases (or even one case)?
Anyhow, let's grant that the majority of people on unemployment are desperate to get a job as soon as possible, irrespective of benefits, and will work hard to do so, no matter what the benefits are. That doesn't prove there aren't enough marginal cases who'll be less incentivized to look for work once benefits are extended to make a difference.
I happen to know some, in fact. They are not evil or lazy people, merely responding to incentives in a way that makes sense to them.
I know my anecdotes aren't proof, either. But they are counterexamples to your "Embarassing. Stupid" dismissal of Mark.
Aug '10
Re: A Gray and Gloomy Job Market
Western Chauvinist: Hubby is packing up his office today after 30 years on the job. While he was there, he got another rejection notice for one of the four interviews he's had in the past month (after not having to interview for 30 years).
Depressing doesn't cover it. We're on the verge of terrified.
Wow. I'm so sorry. I have no advice to give, but I've done a little prayer for you.
Dec '10
Re: A Gray and Gloomy Job Market
Sisyphus
I recommend sending as many resumés out as you can, including a cover letter outlining what he can do for the company and any special knowledge or skills he brings that are of special value to that company. And stay active while watching the budget. Volunteer, do free or cheap events. Fear is the mind killer.
Best of luck. · Jul 11 at 2:45pm
Thanks, Sisyphus. He's been very aggressive about putting out his resume and has had many nibbles. We're just waiting for one, or if we're lucky, two bites to put him in a better negotiating position. He expects a pay cut and will take what he can get, but we're hoping to keep it under 10% rather than the 25% cut some places are offering. With such a huge labor pool -- three other guys just in his hallway are facing lay-offs this week -- we'll have to be very lucky.
Good advice on staying busy. I've been compiling a Honey-do list for a while. This man needs to work. What is that saying about idle minds/hands?