When the “best” of today is far worse than the worst of the worst in 70 years

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The St Louis Fed records that in the last 70 years, the average time one is in a state of unemployment (i.e. duration) in America is now 25 weeks (6 months). Assuming that we are in the sweet spot of a tight labour market we can see clearly that this  post-GFC ‘recovery’ at its best is 25% worse than the worst we have seen over seven decades of post recession recoveries which has barely nudged over 20 weeks. Looking at CEO Bullard’s remarks in a presentation back in April 2016, titled ‘Slow normalization or no normalization?’ that these are extraordinary times.

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