Unemployment: "It's a very cruel game of musical chairs"

The mixed report on unemployment is a measure of how much we are yet to get out of the recessionary hole.

Job seekers are now out of work for an average of 30.2 weeks, or 7-1/2 months, up from a record high of 29.1 weeks the previous month. In fact, the average duration of unemployment has notched new records for the last 10 months in a row.

With more than six job seekers for every job opening, it's not surprising that it's taking that long to find work, said Lawrence Mishel, president of the Economic Policy Institute, a research group based in Washington. "It's a very cruel game of musical chairs."