Median Duration of Unemployment

I think the following chart is one that surely deserves attention:

(click on chart image to enlarge)

UEMPMED_St Louis Fed 8-16-09

Source: St. Louis Federal Reserve

It shows the Median Duration of Unemployment.  One notices the trajectory of the chart during our current period of economic weakness.

Although I have reservations as to how the data on this chart is derived, I do think it is important to monitor this chart on an ongoing basis.

This chart seems to further validate the assertion I have made before on this blog – that we are in a new (economic) environment.

SPX at 1004.09 as this post is written