Cool graph. So extrapolation suggests that even if the job losses have now hit bottom, it will take something like 7-8 years to recover the jobs. And if we haven't hit bottom, then we are looking at more than a decade for recovery. Not very encouraging. Of course, history might not repeat itself, and this recession could have a different curve. barfo
You just made the GOP argument to not throw away $1 trillion, with an extrapolated debt, into government projects.
I picked the wrong time to graduate...last September. Still don't have a real job. Anyone want to hire me? I'm very good.
Not really, no. In fact I didn't make an argument at all. But since you bring it up - the stimulus package is something that didn't exist in the prior recessions, so it could be something that makes the curve look different this time than prior recessions. barfo
He didnt say it was going to look positive or negative. I dont see how what he said was an 'argument' for anything other than things might be different this time.
Everything. In reality, my degree was in MIS and Management, and I have experience doing tasks such as network management, custom application programming, website design, and business systems analysis. But at this point I am just looking for any kind of professional job that would not be extremely boring. I'm actively applying for project and program management positions, and would be interested in operations management and data analytics as well. My ideal job was to work as a consultant at IBM or Accenture, but have had no success getting even an interview with them. I have an interest in a variety of topics/industries, and have seriously thought about getting my graduate degree in Economics. And I do throw down some pretty adequate social skills for someone who was a huge nerd growing up. So I'm very good. (In reality, the "I'm very good" was a poor attempt to reference a joke in Arrested Development, but I couldn't find a decent picture to tag along to the end of my post. Barry Zuckercorn FTW.)
Reading the initial post again, I notice the poster has chosen to use actual jobs lost and not the unemployment rate. Here is a different graph based on unemployment rate and not actual jobs lost, since it makes sense that we would have more jobs lost since the population is much larger now than it was in previous recessions.
This compares some economic indicators to recent recessions. President Obama is apparently lying when he calls this the worst economy since the Great Depression, but hell, he has some pork to sell to the public, so I don't blame him. Edit -look at that 30-year mortgage rate for 81-82. How did our parents afford their homes?
The unemployment rate only counts people that are accepted by unemployment, which is a very small percentage. Also it's far harder to get unemployment now than it was in the comparative years. 81-82 shows a much higher unemployment rate, but there could still be more people with jobs.
My wife and I bought our first house in 1983. When we applied for the mortgage, the interest rate was 18.75%, and in the 90 days to closing, the rates dropped to 12.5%. Saved us $450/mo in mortgage interest. I'll take that over any tax cut, any day. Thank you Ronnie Reagan.
