Expect the Average Duration of Unemployment to Skyrocket for Years

by Mike ‘Mish’ Shedlock
The Street

The average number of weeks people remain unemployed is on the rise and it will get much worse.

Sudden Layoffs

So many people were suddenly laid off in March and April that the average number of weeks people were unemployed plunged to 6.1. That was an all-time low.

Longer-term charts show more ominous trends.

Weeks Unemployed 1999-2020

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