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.