After yesterday saw unemployment tick up t0 9.5% (and U6 hit 16.5%!) I thought it might be a good time to do a little compare and contrast: Let’s compare job losses during this recession against prior recessions:
This is a different way to look at the ob loss situation: This chart reveals the change in Unemployment across the past 7 recessions :
Chart does of the Day takes a look at this recession, the last recession and the average recession from 1954-2006:
via Chart of the Day
The current job market has suffered losses that are nearly three times as much as the average. If this were an average recession/job loss cycle, the number of jobs would have begun to increase three months ago.