Median unemployment duration hits 10.5 weeks, matching Dec 2008 levels.

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The MEDIAN duration of unemployment is 10.5 weeks. It was Dec 2008 by the time this series hit such lofty levels, 1 full year after the recession had begun, which took @nberpubs a record 366 days to backdate

By then, the recession was 12 months old. It didn’t end until Jun 2009 https://t.co/VolPahwwiQ

— Danielle DiMartino Booth (@DiMartinoBooth) December 14, 2024

The job market was already toast last time we saw these #'s, but nobody wanted to say it out loud. For those not paying attention to the labor market right now, that’s on you…. We are all here telling you what to watch out for and do to best manage this.

— Amanda Goodall (@thejobchick) December 16, 2024

See also 2024 mirrors 2021: Hindenburg Omen triggers, followed by two corrections and possible bear market. In Dec 2007, the Fed cut rates despite inflation concerns. History repeats.

See also Enjoy the final weeks of elevated equity prices and narrow credit spreads, before a reversion to the mean. The cattle buying up here will be served during XMAS lunch.