“… despite temporary setbacks, uncertain world events, and the resulting ups and downs of the market, this economy is getting stronger by the day.” President Obama, June 2, 2010.
Average and Median Duration of Unemployment
Hoven’s Index for June 3, 2010
Average duration of unemployment:
June 1984 (peak of the 80s): 20.8 weeks
January 2009 (Obama inaugurated): 19.9 weeks
April 2009 (new record high at the time): 21.8 weeks
April 2010 (most recent and highest ever): 33.0 weeks
Source: St. Louis Fed/FRED, UEMPMEAN series.