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Wednesday 23 Aug 2017 | 11:06 | SYDNEY
Wednesday 23 Aug 2017 | 11:06 | SYDNEY

US jobs: It's bad



7 April 2009 09:53

Back in February I noted a somewhat misleading graph propagated by US House of Representatives Speaker Nancy Pelosi, which had been picked up by local media. The graph made it look as if US job losses in the current recession were much worse than previous ones, and I linked to a few other graphs which showed that this was not the case, and that job losses were in fact pretty consistent with past recessions. One of those graphs came from TIME magazine, and looked like this:

The latest iteration of that graph (h/t Sullivan) uses a different colour arrangement, but you get the idea. By historical standards, this is a deep recession:

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