Unemployed are Unemployed Longer
We recently conducted a survey and found that job seekers are increasingly pessimistic about how many more months it will take them to find a new job. Unfortunately, I'm starting to see more support for their pessimism including a report that people who are unemployed are unemployed for longer periods of time now than they have been in the past.
I really hope that we're not heading into a long or deep recession. The economic indicators are really mixed right now. The housing market is down yet exports are up. The labor market is softening yet we're still adding more new jobs each month than we're losing. Consumer optimism is down yet spending is up. What does this all mean? Those with crystal balls step to the front but I suspect we're teetering on the edge of heading further into recession or coming out of a short, mild recessionary period.
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