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Duration of Unemployment at 50-Year Highs

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Speaking of joblessness, whose job is it to fix this?

Making the rounds over the past week or so is a scary chart picked up from the St. Louis Fed showing the median duration of unemployment at a 50-year high.

The presumption among most of us is that responsibility for the chart above rests squarely with government. Of course, not everyone agrees!

Regardless of which camp you fall in, the reality is that expectations for inflation and future consumption will be sorely tested by this historic high in unemployment duration.
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