Tuesday, February 10, 2009

"Catastrophe"? You Be the Judge

You should click on it to make it readable...
Right now, the job-loss (as a %, not raw job numbers) is about comparable to the 1981 recession. So although the press trumpets the raw numbers (they are big), the normalized-for-total-employment number is not "a catastrophe."
As Calculated Risk observes, however, the recovery periods have been getting longer.

1 comment:

Scott said...

When will it be a catastrophe? If you're going to express an opinion at all, let's nail down the number you need for that word. Let's hope we don't have to revisit this post a year from now and say "well, I guess you can use that word now, dad!" But you never know.