US unemployment duration is surging at an alarming rate: The average duration of unemployment in the US jumped +2 weeks in February, to 25.7 weeks, a 4-year high. Unemployment duration has risen +6.3 weeks since October 2023, the fastest pace since 2020-2021. This is now well above 2018-2019 pre-pandemic levels. At the same time, the median duration of unemployment is up to 11.1 weeks, the 2nd-highest since December 2021. Both metrics are trending consistently higher, a pattern previously seen at the onset of past recessions. It is taking Americans significantly longer to find work after losing their jobs.(The Kobeissi Letter)