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.
Showing posts with label decline in employment. Show all posts
Showing posts with label decline in employment. Show all posts
Thursday, July 29, 2010
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