The Shocking Reality for the Average Duration of Unemployment

How does this chart of the Average Duration of Unemployment look to you? The beard scratchers at the Fed can’t be thrilled about their $85 billion-a-month boondoggle.

The Wall Street Journal details the ugly news:

The U.S. economy added 204,000 jobs in October, the Labor Department said on Friday, much higher than the 120,000 expected by economists. The unemployment rate rose to 7.3%.

The stronger data could heighten the prospect that the U.S. economy may be healthy enough for the Fed to soon begin withdrawing, or “tapering,” stimulus from its $85 billion-a-month bond-buying program, which had kept stock and bond prices at elevated levels. Fed officials have signaled that the timing of a pullback in stimulus hinges on the health of the U.S. economy, particularly the labor market.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.

E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.