Calculated Risk has posted a couple of interesting graphs showing the variance in the lengths of unemployment over the last 40 years (U.S. only). It’s what I’ve been saying: you don’t want to go unemployed these days because those without jobs aren’t going to get new ones.
CR’s points are worth noting:
… if the level of normal turnover was the same as in the ’80s, the current unemployment rate would probably be the highest since WWII.
CR also seems to be bullish on the double-dipping recession hitting this year. I’m anticipating another drop but I’ve still not bothered to run the numbers to see what the likely bottom is.