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View Diary: Another month of weak job growth as the official unemployment rate drops to 8.1%. U6 at 14.5% (203 comments)

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  •  You keep saying this. But someone has ... (2+ / 0-)
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    mimi, navajo

    ...actually made the apples to apples comparison. N Andrews. You can read about his findings here. It's too bad there is no updating since 2009, but that doesn't affect his analysis in the least. And that was no easy analysis comparing different statistical methods across 75 years of vastly different economies.

    holder

    Don't tell me what you believe, show me what you do and I will tell you what you believe.

    by Meteor Blades on Fri May 04, 2012 at 07:50:42 AM PDT

    [ Parent ]

    •  Sorry... (1+ / 0-)
      Recommended by:
      navajo

      ...I lopped of the edge of that so it appears it's missing something, but it is just the right-hand border that is gone.

      Don't tell me what you believe, show me what you do and I will tell you what you believe.

      by Meteor Blades on Fri May 04, 2012 at 07:52:05 AM PDT

      [ Parent ]

    •  if you read the footnotes (0+ / 0-)

      he admits using his assertions and formulas he cannot actually compare pre 1940 to now.

      Bad is never good until worse happens

      by dark daze on Fri May 04, 2012 at 08:01:57 AM PDT

      [ Parent ]

    •  Wow that chart chops off (0+ / 0-)

      at the worst possible point, doesn't it? Look at that vertical U6 at the right edge. A shame that it still isn't useful for comparing current unemployment figures with those from the 20s and 30s.

      For what it's worth (very little), I think our employment situation is significantly better than during the Great Depression. Our society is more "advanced" as well. However, if our criterion for "hope for the future" is that "we're better off than the 1930s," I think that the hope is pretty badly misplaced.

      Certainly, at a minimum, we're significantly worse off than at any point since the 1930s, even taking into consideration the lack of data points from recent years.

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