Saturday, September 05, 2009

Teenage Unemployment Highest since records have been kept.

Teens are hardest hit in this particular recession. Here is a graph from Catherine Rampell in her Economix blog post.

Now here is a puzzle. Before 1993 the median length of weeks of the unemployed (time to find a job) roughly equals the unemployment rate. After 1993, the duration in weeks is seemingly larger than the unemployment rate. Why?

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