Everything from the housing market to credit card defaults to retail sales hinges on the ability of Americans to find jobs. As much as we hear about green shoots, the jobs market just keeps getting worse. As today’s chart from Whitney Tilson’s More Mortgage Meltdown shows, the severity of the jobs collapse blows away what we’ve seen in the recessions of the past 40 years.
And since so many of our jobs during the boom came from the housing and finance sectors, where the new jobs come from? Government?
More great charts from More Mortgage Meltdown here >
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