I love graphs. Maybe it’s a geek thing.
Anyways, I ran into a few graphs of job losses in this recession. I believe the first two are produced by the US government and the last is sourced in the image. All were found via DailyKos.
I saw this one first, and it scared me:
The slope of that line is definitely scary. If jobs keep being lost at that rate for the next quarter I’d guess we’re in for a whole lot of trouble.
Next, I ran into the graph below. When the other post-WW2 recessions are plotted this one still looks very bad:
However, it seems someone was smart enough to plot the job loss data as a percentage of population. Now this recessions looks fairly mediocre.
This graph makes me feel pretty good, actually. This is a small indication that we’re not closing in (yet) on depression-level disaster.
One caveat is that the definition of job losses has changed over the years, and I’m not sure if these graphs take that into account.