Friday, June 4, 2010

Labor market remains very weak

 image offers the following:

Mean duration of unemployment continues to shoot up.  At this point it is almost irrelevant whether someone is in the labor force or not, as we know that income inequality is at record highs, asset prices have collapsed, so that those at the bottom of the pecking order are likely in need of work whether they’re counted in the labor force or not.  Employment/population is near 25-year lows.

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