Skip to footer

Unemployment figures for May show 'mixed' results

The May employment report showed that the median term of unemployment declined, dipping to 17.3 weeks. Still, the economic situation remains bleak, even compared to the early 1980s — a time considered by economists to be the worst period of unemployment since the Great Depression.

|
SoldAtTheTop
This chart shows that the number of civilians who have been unemployed for at least 27 weeks has decreased since the peak of the recession. Still, the figure remains dismal compared to the early 2000s.

Today's employment situation report showed that conditions for the long term unemployed were mixed in May while still remaining distressed by historic standards.

Workers unemployed 27 weeks or more increased to 4.357 million or 37.3% of all unemployed workers while the median term of unemployment declined to 17.3 weeks and the average stay on unemployment increased to 36.9 weeks.

Looking at the chart, you can see that today’s sorry situation far exceeds even the conditions seen during the double-dip recessionary period of the early 1980s, long considered by economists to be the worst period of unemployment since the Great Depression.

You've read  of  free articles. Subscribe to continue.
Real news can be honest, hopeful, credible, constructive.
What is the Monitor difference? Tackling the tough headlines – with humanity. Listening to sources – with respect. Seeing the story that others are missing by reporting what so often gets overlooked: the values that connect us. That’s Monitor reporting – news that changes how you see the world.
Subscribe
QR Code to Unemployment figures for May show 'mixed' results
Read this article in
https://www.csmonitor.com/Business/Paper-Economy/2013/0607/Unemployment-figures-for-May-show-mixed-results
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe