At Business Insider, we like to reference the “scariest jobs chart ever,” which compares the depth and duration of job losses since the beginning of every post-WWII recession.
The chart makes clear that the recent recession has indeed been the worst for jobs since the Great Depression.
However, other countries have suffered worse in the wake of financial crises before.
NPR Planet Money brings this chart to our attention today from the Oregon Office of Economic Analysis to illustrate that point. The dark red line represents the U.S. since the beginning of the recent recession.
Planet Money even suggested Business Insider use the title “THE SCARIEST JOBS CHART EVER COULD HAVE BEEN A LOT SCARIER.”
It should also be noted that the U.S. is simply not far along enough in its recovery, per the chart above, to really be called “out of the woods” relative to past crises, but looking at the first four years, it seems to stack up pretty well.
Bottom line: financial crises are devastating for workers. Everywhere.
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