Wednesday, February 11, 2009

Job Losses In Recent Recessions

Here is a very disturbing graph of unemployment that has been published by Nancy Pelosi, Speaker of the House.
When I sent this to my friend Richard Homonoff, he replied:
You might want to take a look at William J Polley's blog post titled, "Employment losses continue to be in line with 1981-82 recession."

He looks at the eleven recessions since WWII.

He has a chart that is more comprehensive than Pelosi's.
In the chart below from that reference, the current unemployment line is in orange, is situated about in the middle of the pack and ends at 12 months.

It does appear to me that the Speaker is simplifying things to support her arguments in an unfair way. I don't think either side of the debate should do this -- even it if fits my own leanings. That only weakens your argument once smart people (like Richard) start digging deeper.

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