musings on economic education, economic analysis and economic policy
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?