Why Do People Become Unemployed?

The Bureau of Labor Statistics only shows data for reason of unemployment by month. The Silk team calculated the average annual number of respondents for each reason listed in the graph.

In terms of reason for unemployment, the majority of respondents that were jobless were either job losers and persons who completed temporary jobs or a part of a broad category of “all other job losers.” As indicated in the graph, few employees cited quitting their job as a reason for their unemployment. 

Further, between 2005 - 2010, the total number of respondents who cited layoffs as the reason for their unemployment increased sharply before gradually decreasing in 2011. This is in sharp contrast to new entrance, whose unemployment increased since 2005