Atlanta Fed's Blog Describes a "New Record Low" in Jobs

When the Atlanta Fed comes right out in its own in-house macroblog and tells us that “finding a job right now is extremely difficult,” it’s probably true. In fact, it’s likely even much worse than they indicate.

The Economist’s View has dug up this recent post and it describes the content as showing that “current weakness in the labor markets is likely to persist.”

The Atlanta Fed’s analysis takes into consideration that the current 2.4 million job openings, as a percentage of filled and unfilled positions, represent “a new record low.” The Fed blog goes on to say that the “low probability of finding a job has also caused the average amount of time spent unemployed to rise substantially.”

It’s a tough time to be out of work in the US. This informative find from the Economist’s View highlights more details on joblessness and also offers a chart.