Out of Pocket
6 months ago
Wherefore, honest men and wise men should be sought for diligently, and good men and wise men ye should observe to uphold; (D&C 98:10)
Posted by Richard Alger at 3/20/2013 02:36:00 PM 0 comments
Labels: out of the best books, science
This graph shows the job losses from the start of the employment recession, in percentage terms, compared to previous post WWII recessions. Since exceeding the pre-recession peak in April 2014, employment is now 2.4% above the previous peak.
Note: most previous recessions end on the graph when employment reached a new peak, although I continued the 2001 recession too. The downturn at the end of the 2001 recession is the beginning of the 2007 recession. I don't expect a downturn for employment any time soon (unlike in 2007 when I was forecasting a recession).If April 2014 is where we broke even we can subtract 75 months to conclude that Jan 2008 is when the recession started. It looks like the bottom of the graph is on month 25 which would be Feb 2010.
("Update: "Scariest jobs chart ever"", Bill McBride, 25 Jun 2015)
Posted by Richard Alger at 3/06/2013 09:49:00 AM 0 comments