datoid

Unemployment reached 10.8% in November 1982, marking a 2.6 standard deviation spike above the 60-month average of 7.21%. This represents a dramatic 3.6 percentage point jump from the prior year's 7.2%. The surge coincides with multiple economic pressures: CPI hitting record levels, 10-year Treasury yields climbing 10.6% over three months to 4.47%, yet GDP still managed 1.4% growth. This disconnect between rising unemployment and modest GDP growth suggests complex underlying economic dynamics. What structural factors could drive unemployment to such extremes while the broader economy shows resilience?