U.S. Job Losses – Current vs. Recent Recessions
This graph speaks for itself! It shocked me!
It puts into perspective the depth of the current economic downturn compared to the most recent 2001 and 1990 recessions. U.S. Job losses are almost double those of the prior two recessions in the same amount of time and already deeper than they were in the worst of the prior two. It is also the first time in my living memory where the unemployment rate in the U.S. is worse than in Canada.
*The chart above was displayed on MSNBC’s Rachael Maddow show on Monday February 9, 2009.