Great News: Average Length Of Unemployment Surges To New All Time Record 40.4 Weeks

An all-time record since records began being kept... ...during the Great Depression! Via memeorandum: Average Length Of Unemployment Surges To New All Time Record 40.4 Weeks

We already learned that the one biggest red flag in unemployment data had been raised when we found that the labor force participation rate was the lowest since 1984. Now we find that the other critical data point: average length of unemployment, just hit a new all time high of 40.4 weeks in July, up from the previous record of 39.9 in June. Someone should tell the average American who is rapidly approaching one year in average unemployment that the stock market soared on good payroll news. They will be delighted.

Check the graphic:

It just keeps getting worse and worse. Note the rapid acceleration after Obama took office. More from Don Surber and Doug Ross