CHART OF THE DAY: The Long, Long Job Search

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Today’s jobs report was ugly by nearly every measure. There were huge job losses, income growth was weak, and the work week hit a record low again.

And here’s another depressing measure: The duration of time people spend unemployed. Today’s chart measures the share of the labour force that has been unemployed at least 15 weeks.  As you can see, we’re in uncharted territory.

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