by Bill McBride on 7/02/2009 08:48:00 PM
Thursday, July 02, 2009
| A little sublease space in D.C.|
Click on photo for larger image in new window.
Photo Credit: a reader in dc
Taken today, July 2, 2009.
Here is a repeat of one of the graphs this morning:
This graph shows the job losses from the start of the employment recession, in percentage terms (as opposed to the number of jobs lost).
The current recession is now the 2nd worst recession since WWII in percentage terms - and also in terms of the unemployment rate (only early '80s recession was worse).
And a few posts:
Employment Report: 467K Jobs Lost, 9.5% Unemployment Rate
Unemployment: Stress Test Scenarios, Diffusion Index, Weekly Claims
Employment-Population Ratio, Part Time Workers, Hours Worked
From Paul Krugman on wages: Smells like deflation
On the '00s (the "Naughts") ...
Employment Dec 1999: 130.53 million
Employment Jun 2009: 131.69 million
A gain of just 1.16 million. What are the odds that the economy loses another 1.16 million jobs over the next 6 months? Pretty high. That would mean no net jobs added to the economy for the naughts: Naught for the Naughts!
Posted by Bill McBride on 7/02/2009 08:48:00 PM