Why is unemployment duration so long?

Katherine Kuang and Robert Valletta

FRBSF Economic Letter, 2012, issue jan30

Abstract: During the recent recession, unemployment duration reached levels well above those of past downturns. Duration has continued to rise during the uneven economic recovery that began in mid-2009. Elevated duration reflects such factors as changes in survey measurement, the demographic characteristics of the unemployed, and the availability of extended unemployment benefits. But the key explanation is the severe and persistent weakness in aggregate demand for labor.

Keywords: Unemployment (search for similar items in EconPapers)
Date: 2012
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