I think the following chart is one that surely deserves attention:
(click on chart image to enlarge)
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