Unemployment
Unemployment is discussed everyday so let’s provide unique insight underneath the numbers. And let’s not bury the lead. For the first time ever during June 2009, Long-Term Unemployment is greater than Short-Term Unemployment. What!? Keep reading.
And we also wanted to share our chagrin at how amazing a simple concept like “unemployment” can get convoluted by it’s many perceptions and definitions. So to combat any confusion we present two tables illustrating 16 important metrics (versus the one that gets reported everywhere). For your convenience, we categorized our email into THE NUMBERS and THE PERCENTAGES. Enjoy!
THE NUMBERS
JUNE 2009 MARKS FIRST TIME EVER LT UNEMPLOYED HIGHER THAN ST UNEMPLOYED
|
Date
|
CU-1
< 5
Weeks
|
CU-2
5 to 14
Weeks
|
CU-3
15 to 26
Weeks
|
CU-4
>= 27
Weeks
|
CU
1+2+3+4
|
ST
Unemp
|
LT
Unemp
|
ST – LT
Unemp
|
Jun 1994
|
2,757
|
2,449
|
1,155
|
1,580
|
7,941
|
5,206
|
2,735
|
+2,471
|
Jun 1995
|
2,744
|
2,354
|
1,031
|
1,235
|
7,364
|
5,098
|
2,266
|
+2,832
|
Jun 1996
|
2,552
|
2,162
|
985
|
1,370
|
7,069
|
4,714
|
2,355
|
+2,359
|
Jun 1997
|
2,562
|
2,175
|
1,009
|
1,076
|
6,822
|
4,737
|
2,085
|
+2,652
|
Jun 1998
|
2,546
|
2,079
|
824
|
789
|
6,238
|
4,625
|
1,613
|
+3,012
|
Jun 1999
|
2,521
|
1,773
|
812
|
812
|
5,918
|
4,294
|
1,624
|
+2,670
|
Jun 2000
|
2,579
|
1,753
|
616
|
627
|
5,575
|
4,332
|
1,243
|
+3,089
|
Jun 2001
|
2,808
|
2,025
|
822
|
710
|
6,365
|
4,833
|
1,532
|
+3,301
|
Jun 2002
|
2,711
|
2,654
|
1,382
|
1,641
|
8,388
|
5,365
|
3,023
|
+2,342
|
Jun 2003
|
2,906
|
2,745
|
1,453
|
2,100
|
9,204
|
5,651
|
3,553
|
+2,098
|
Jun 2004
|
2,677
|
2,387
|
1,284
|
1,847
|
8,195
|
5,064
|
3,131
|
+1,933
|
Jun 2005
|
2,657
|
2,371
|
1,038
|
1,387
|
7,453
|
5,028
|
2,425
|
+2,603
|
Jun 2006
|
2,696
|
2,079
|
985
|
1,163
|
6,923
|
4,775
|
2,148
|
+2,627
|
Jun 2007
|
2,533
|
2,134
|
1,142
|
1,167
|
6,976
|
4,667
|
2,309
|
+2,358
|
Jun 2008
|
2,733
|
3,012
|
1,345
|
1,621
|
8,711
|
5,745
|
2,966
|
+2,779
|
Jul 2008
|
2,884
|
2,853
|
1,450
|
1,718
|
8,905
|
5,737
|
3,168
|
+2,569
|
Aug 2008
|
3,242
|
2,874
|
1,568
|
1,878
|
9,562
|
6,116
|
3,446
|
+2,670
|
Sep 2008
|
2,864
|
3,083
|
1,621
|
2,041
|
9,609
|
5,947
|
3,662
|
+2,285
|
Oct 2008
|
3,108
|
3,055
|
1,834
|
2,275
|
10,272
|
6,163
|
4,109
|
+2,054
|
Nov 2008
|
3,255
|
3,141
|
1,757
|
2,207
|
10,360
|
6,396
|
3,964
|
+2,432
|
Dec 2008
|
3,267
|
3,398
|
1,927
|
2,591
|
11,183
|
6,665
|
4,518
|
+2,147
|
Jan 2009
|
3,658
|
3,519
|
1,987
|
2,647
|
11,811
|
7,177
|
4,634
|
+2,543
|
Feb 2009
|
3,404
|
3,969
|
2,347
|
2,917
|
12,637
|
7,373
|
5,264
|
+2,109
|
Mar 2009
|
3,371
|
4,041
|
2,534
|
3,182
|
13,128
|
7,412
|
5,716
|
+1,696
|
Apr 2009
|
3,346
|
3,982
|
2,531
|
3,680
|
13,539
|
7,328
|
6,211
|
+1,117
|
May 2009
|
3,275
|
4,321
|
3,054
|
3,948
|
14,598
|
7,596
|
7,002
|
+594
|
Jun 2009
|
3,204
|
4,066
|
3,452
|
4,381
|
15,103
|
7,270
|
7,833
|
– 563
|
Jun 2010
|
CO
|
CO
|
CO
|
CO
|
0
|
CO
|
CO
|
CO
|
Jun 2011
|
CO
|
CO
|
CO
|
CO
|
0
|
CO
|
CO
|
CO
|
Jun 2012
|
CO
|
CO
|
CO
|
CO
|
0
|
CO
|
CO
|
CO
|
Min
|
973
|
394
|
96
|
48
|
1,511
|
1,391
|
168
|
– 563
|
Equilibrium
|
2,569
|
1,936
|
756
|
707
|
5,968
|
4,629
|
1,475
|
+2,496
|
Max
|
3,974
|
4,321
|
3,452
|
4,381
|
16,128
|
7,596
|
7,833
|
+4,622
|
Jun 09 vs. EQ
|
+ 635
|
+ 2,130
|
+ 2,696
|
+ 3,675
|
+ 9,136
|
+ 2,641
|
+ 6,359
|
– 3,059
|
THE PERCENTAGES
3 of 6 “U-Stats” REACH 61 YEAR HIGHS DURING JUNE 2009
|
DATE
|
U1
|
U2
|
U3
|
U4
|
U5
|
U6
|
U4-U3
|
U5-U4
|
U6-U5
|
June 1994
|
2.0%
|
2.6%
|
6.2%
|
6.6%
|
7.5%
|
11.3%
|
0.4%
|
0.9%
|
3.8%
|
June 1995
|
1.6%
|
2.4%
|
5.8%
|
6.0%
|
6.9%
|
10.4%
|
0.2%
|
0.9%
|
3.5%
|
June 1996
|
1.7%
|
2.3%
|
5.5%
|
5.7%
|
6.6%
|
10.0%
|
0.2%
|
0.9%
|
3.4%
|
June 1997
|
1.4%
|
2.1%
|
5.2%
|
5.4%
|
6.1%
|
9.2%
|
0.2%
|
0.7%
|
3.1%
|
June 1998
|
1.1%
|
1.9%
|
4.7%
|
4.9%
|
5.5%
|
8.4%
|
0.2%
|
0.6%
|
2.9%
|
June 1999
|
1.1%
|
1.8%
|
4.5%
|
4.6%
|
5.3%
|
7.9%
|
0.1%
|
0.7%
|
2.6%
|
June 2000
|
0.8%
|
1.6%
|
4.1%
|
4.3%
|
4.9%
|
7.2%
|
0.2%
|
0.6%
|
2.3%
|
June 2001
|
1.0%
|
2.2%
|
4.7%
|
4.9%
|
5.5%
|
8.2%
|
0.2%
|
0.6%
|
2.7%
|
June 2002
|
2.0%
|
3.0%
|
6.0%
|
6.2%
|
6.9%
|
9.8%
|
0.2%
|
0.7%
|
2.9%
|
June 2003
|
2.3%
|
3.2%
|
6.5%
|
6.8%
|
7.4%
|
10.6%
|
0.3%
|
0.6%
|
3.2%
|
June 2004
|
2.0%
|
2.6%
|
5.8%
|
6.1%
|
6.7%
|
9.8%
|
0.3%
|
0.6%
|
3.1%
|
June 2005
|
1.5%
|
2.3%
|
5.2%
|
5.5%
|
6.2%
|
9.3%
|
0.3%
|
0.7%
|
3.1%
|
June 2006
|
1.3%
|
2.1%
|
4.8%
|
5.1%
|
5.8%
|
8.7%
|
0.3%
|
0.7%
|
2.9%
|
June 2007
|
1.4%
|
2.1%
|
4.7%
|
5.0%
|
5.6%
|
8.5%
|
0.3%
|
0.6%
|
2.9%
|
Jun 2008
|
1.8%
|
2.7%
|
5.7%
|
6.0%
|
6.7%
|
10.3%
|
0.3%
|
0.7%
|
3.6%
|
Jul 2008
|
1.9%
|
2.9%
|
6.0%
|
6.3%
|
7.0%
|
10.8%
|
0.3%
|
0.7%
|
3.8%
|
Aug 2008
|
2.1%
|
3.0%
|
6.1%
|
6.3%
|
7.1%
|
10.7%
|
0.2%
|
0.8%
|
3.6%
|
Sep 2008
|
2.3%
|
3.0%
|
6.0%
|
6.2%
|
6.9%
|
10.6%
|
0.2%
|
0.7%
|
3.7%
|
Oct 2008
|
2.5%
|
3.3%
|
6.1%
|
6.4%
|
7.1%
|
11.1%
|
0.3%
|
0.7%
|
4.0%
|
Nov 2008
|
2.5%
|
3.7%
|
6.5%
|
6.8%
|
7.6%
|
12.2%
|
0.3%
|
0.8%
|
4.6%
|
Dec 2008
|
2.8%
|
4.5%
|
7.1%
|
7.5%
|
8.3%
|
13.5%
|
0.4%
|
0.8%
|
5.2%
|
Jan 2009
|
3.1%
|
5.6%
|
8.5%
|
8.9%
|
9.7%
|
15.4%
|
0.4%
|
0.8%
|
5.7%
|
Feb 2009
|
3.7%
|
5.9%
|
8.9%
|
9.3%
|
10.1%
|
16.0%
|
0.4%
|
0.8%
|
5.9%
|
Mar 2009
|
4.1%
|
6.1%
|
9.0%
|
9.4%
|
10.3%
|
16.2%
|
0.4%
|
0.9%
|
5.9%
|
Apr 2009
|
4.5%
|
5.6%
|
8.6%
|
9.0%
|
9.8%
|
15.4%
|
0.4%
|
0.8%
|
5.6%
|
May 2009
|
4.6%
|
5.8%
|
9.1%
|
9.5%
|
10.3%
|
15.9%
|
0.4%
|
0.8%
|
5.6%
|
Jun 2009
|
4.8%
|
5.9%
|
9.7%
|
10.1%
|
10.9%
|
16.8%
|
0.4%
|
0.8%
|
5.9%
|
Jun 2010
|
CO
|
CO
|
CO
|
CO
|
CO
|
CO
|
CO
|
CO
|
CO
|
Jun 2011
|
CO
|
CO
|
CO
|
CO
|
CO
|
CO
|
CO
|
CO
|
CO
|
Jun 2012
|
CO
|
CO
|
CO
|
CO
|
CO
|
CO
|
CO
|
CO
|
CO
|
Min
|
0.2%
|
1.0%
|
2.4%
|
3.8%
|
4.3%
|
6.3%
|
0.1%
|
0.5%
|
2.0%
|
EQ
|
1.4%
|
2.7%
|
5.5%
|
5.7%
|
6.1%
|
9.1%
|
0.3%
|
0.7%
|
2.9%
|
Max
|
4.9%
|
7.3%
|
11.4%
|
10.1%
|
10.9%
|
16.8%
|
0.5%
|
1.0%
|
5.9%
|
Jun 09 vs. EQ
|
+ 3.4pp
|
+ 3.2pp
|
+ 4.2pp
|
+ 4.4pp
|
+ 4.8pp
|
+ 7.7pp
|
+ 0.1pp
|
+ 0.1pp
|
+ 3.0pp
|
Extra 60 Seconds: Careful recommendations for the busy executive.
Article Link of the Week: On the mend – By The Economist.
Business Book Link of the Week: Free: The Future of a Radical Price – By Chris Anderson.
SEQOL Link of the Week: America’s Best Hospitals – By Avery Comarow.
Quote of the Week: “Don’t go around saying the world owes you a living. The world owes you nothing. It was here first.” By Mark Twain.
About SEQOL (Significantly Enhancing Quality of Life). We passionately feel that “responsible business practices” are about balancing both profitability AND quality of life. If you are interested in understanding more about this innovative model, receiving a 9PQ Audit (Nine Perpetual Questions that Drive Responsible Businesses) and/or receiving our upcoming SEQOL Weekly Newsletter, please contact us.
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