How bad is the current employment situation. Krugman posted a set of charts on his blog that give a number of different ways to compare the current unemployment situation to past recessions - decline in employment, rate of unemployment and duration of unemployment. As could be expected, this recession is the worst is all categories. As a point of comparison, the second worst recent recession was in 1980 - with a large decline in employment and high unemployment, but the duration of unemployment was short.
I like these types of charts because the comparisons they make are great for class discussions.
No comments:
Post a Comment