In case you're not already on edge over the economy, here are a couple more enlargeable graphs on the subject thanks to Barry Ritholtz at The Big Picture and Bill at Calculated Risk. These compare the current recession and recovery with the previous eight recessions. The first shows numbers of jobs lost and the recovery from the previous employment peak. The second shows percentage of jobs lost (not the unemployment rate).
(Click to enlarge.) |
(Click to enlarge.) |
Something many observers are pointing out - and have been for a while - is that it took longer to recover from the past three recessions than it has to recover from those that came before.