With the unemployment rate ticking higher, and the pace of job creation still at a pathetically low rate (by historical standards), we’re compelled to revisit this chart.
It’s put together every monthly by Bill McBride at Calculated Risk, and it shows the trajectory of job losses in all of the various post-WWII recessions. This current recession (and recovery) is the bright red line.
As you can see, the downtrend was far worse than anything else we’d seen since WWII, and the rise is far more meager than anything else we had seen.
Photo: Calculated Risk