Comments on: Unemployment Rate % Change versus Prior Recessions

By: Unemployment hits young people harder « Dregs of the Future

Unemployment hits young people harder « Dregs of the Future — Sun, 05 Jul 2009 11:51:32 +0000

[...] Let’s compare job losses during this recession against prior recessions: This is a different way to look at the job loss situation: The % change in Unemployment across the past 7 recessions : (Source.) [...]

By: sujal

sujal — Sat, 04 Jul 2009 16:22:02 +0000

@lw: the idea that Bush did any heavy lifting on any issue is laughable at best. The idea that an Democratic administration would even think that is even more laughable.

By: some_guy_in_a_cube

some_guy_in_a_cube — Sat, 04 Jul 2009 15:20:40 +0000

Only the easily-led could find a “green shoot” in that chart. See you at SPX 150.

By: lw

lw — Sat, 04 Jul 2009 14:30:41 +0000

Trace the chart backwards in time and Obama’s stimulus makes perfect sense.

The chart was tracking perfectly to previous recessions when the stimulus bill was written. If the trend had held, the Dems could have borrowed and burned the $787B on the south lawn and looked like heros. Disaster averted.

The Dems must have figured that Bush did all the heavy lifting and now it’s time to cash in.

Now we have a real problem… The stimulus didn’t stimulate (since it wasn’t designed to) and the country needs a REAL stimulus bill, however why would anyone trust the Dems given a chart like this.

Time for some real leadership in DC… Hopefully Obama steps up.

By: Bruce in Tn

Bruce in Tn — Sat, 04 Jul 2009 12:00:16 +0000

The Rosenberg piece is excellent.

By: Onlooker from Troy

Onlooker from Troy — Sat, 04 Jul 2009 02:03:51 +0000

Here’s a good analysis of the employment situation by David Rosenberg via TPC’s blog:

http://pragcap.com/the-recession-isnt-over

Addresses the questions I posed above.

By: mathman

mathman — Sat, 04 Jul 2009 01:37:59 +0000

With all the unemployed milling around by the end of summer, homelessness rising precipitously, what will become of the “fabric of our civilization”? Should we expect chaos and anarchy to arise? With the vast majority of our citizenry losing their standard of living as a result of the deepening “recession”, job security vanishing, money becoming worthless, unaffordable health care, food and energy prices set to rise and the shenanigans of the politicians doing nothing to help, what should we expect going forward?

On another note, i see even Harvard is basically screwed:

http://www.vanityfair.com/online/daily/2009/06/harvard.html

By: Pat G.

Pat G. — Sat, 04 Jul 2009 00:41:30 +0000

You know, I wanted to mention this yesterday. Analysts were looking for a loss of 367K jobs and the unemployment rate to climb to 9.6%. So Hampton reports that we lost another 467K jobs which was more than 100K over the consensus and the unemployment rate ticked up to 9.5%. WTF? 100K more jobs than the consensus and the rate is .1% less than the consensus? Only in America.

By: OkieLawyer

OkieLawyer — Fri, 03 Jul 2009 21:48:23 +0000

Bruce in Tn Says: MOUNTAIN OF DEBT: Rising debt may be next crisis I got your post and raise you. Financial sector debt is larger than federal government debt Something that the financial pundits and Republicans / Libertarians who talk about "too much federal government debt" fail to mention.

By: Bruce in Tn

Bruce in Tn — Fri, 03 Jul 2009 20:55:41 +0000

By the way, retail sales in Europe stunk.

http://www.rttnews.com/CorpInfo/EconomicCalendar.aspx

7/03/09 5 am…