Dec 6, 2010

Unemployment at its worst since 1948 despite stimulus

From a Daily Mail report (see link below):

As unemployment in the U.S. nears the dreaded 10 per cent mark, it is a chart to chill the bones of any job hunter.

Comparing previous recoveries from all 10 American recessions since 1948 to the current financial crisis, the stark figures show almost no improvement in employment figures in the past year.

Billions of dollars in stimulus was intended to create jobs. It didn't.

Some commentators have described the comparison as 'the scariest jobs chart ever', pointing to the fact that only the 2001 recession took longer to bring employment back to pre-crisis levels.