8/7/09

Some sobering facts about employment


It's worth remembering that this job economy is likely the worst since the Great Depression. Here's a graph (click on graph to enlarge), from Calculated Risk, illustrating the number of jobs lost since the beginning of this recession and comparing each recession in the last 60 years (expressed as percentage of jobs held before the recession). No recession since the Great Depression has suffered this many job losses this long after the recession started.

In the last ten years, the health/ed/gov sector has far outpaced job growth in the rest of the economy. In fact, if you factor out that tri-sector, American job growth in the last decade has been negative, according to the Atlantic.

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