It turns out that how we track unemployment does matter, especially when one takes a closer look at the month-to-month BLS employment situation report.  The unemployment rate cited does not capture the entire scope of affairs impacting the economy and the overall jobs picture.  What’s more interesting here is the apparent linkage between extended unemployment benefit durations, and the increase in time one spends unemployed.

Have a look at the table published by the BLS in their recent Issues in Lab0r Statistics report:

Watching the trend since Obama has taken office, you can observe a significant escalation in individuals who have been unemployed for over a year!  The continued extension of unemployment benefits has only served to create a sense of complacency within at least 16,830,000 people, which is about 11% of the total workforce of 153,000,000 people (labor statistics can be found on the website).

A good executive would acknowledge these warning signs, and make the critical changes required to put the enterprise back on track. So what is the CEO of the United States’ response?  I’ll go check out my Irish roots… to be continued, but hopefully not after the 2012 election.

The political cycle can not deny the growing numbers that are counter to Obama’s economic policies.