by Bill McBride on 6/25/2015 04:18:00 PM
Thursday, June 25, 2015
During the recent recession, every month I posted a graph showing the percent jobs lost during the recession compared to previous post-WWII recessions.
Some people started calling this the "scariest jobs chart ever".
I retired the graph in May 2014 when employment finally exceeded the pre-recession peak (now April 2014 with revisions).
I was asked if I could post an update to the graph, and here it is.
This graph shows the job losses from the start of the employment recession, in percentage terms, compared to previous post WWII recessions. Since exceeding the pre-recession peak in April 2014, employment is now 2.4% above the previous peak.
Note: most previous recessions end on the graph when employment reached a new peak, although I continued the 2001 recession too. The downturn at the end of the 2001 recession is the beginning of the 2007 recession. I don't expect a downturn for employment any time soon (unlike in 2007 when I was forecasting a recession).