Since tomorrow is the big NFP report, lets take a look at this EPI breakdown of Unemployment by State.
They note that “while the median duration of unemployment represents the typical job search, it also means that the wait is longer for half of all unemployed workers.” Hence, many of these workers will exhaust 26 weeks of unemployment insurance before landing a permanent new gig.
That has significant repercussions for consumer spending, foreclosures, etc.
click for interactive chart
Originally published at The Big Picture and reproduced here with the author’s permission.
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