Inquiring minds might be interested in a pair of charts courtesy of reader Tim Wallace. Click on either chart to see a sharper image.

Note the trendline of new unemployment claims as a percentage of continuing unemployment.

Over time, the chart suggests it takes longer and longer to find a job. There was a brief respite in the Clinton years, no doubt because of the internet boom, not because Clinton did anything particularly special.

The trend is unbroken all the way back to 1967. It just was not noticeable before because overall unemployment was lower.

US Population vs. Employment, vs. Labor Force, vs. Continued Unemployed

The recent spike in continued unemployed is especially aggravating given the flat growth in employment.

Mike “Mish” Shedlock
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