Monday, February 9, 2009

How bad is it?

Posted by Danny Tarlow
Justin Fox reproduced Nancy Pelosi's graph of how bad the job losses are in this economy compared to past recessions, but he added data for several more than just the most recent two. I think this is a more compelling chart than the original Pelosi one. It says that things are as bad as they've been, but we're not (yet) in worse territory than we hit in the worst of the 70s and worst of the 80s. Pelosi's original only had the beige, purple and light blue lines. There's also an interesting follow up from fivethirtyeight.com. If you look at the duration of the recessions, there is a trend where they are getting longer--you can see this in the strong correlation between how recent the recession was and where the lines return back up to the x-axis.

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