Tuesday, February 10, 2009


From Justin Fox at TIME comes this look at the past five recessions and our current one. The good news? Ours isn't the worst? The bad news? It's second worst by a half of a percent and it's still early yet. He says if this recessions is like the '81 recession, then it'll be over in 4-6 months. He puts the "past performance is no guarantee of future results" caveat in there, which means "not fucking likely".

William Polley
looks at the Non-Farm Payroll Employment numbers and comes to the conclusion that while we're losing more jobs numbers wise, percentage wise our grandparents had it worse. The Angry Bear looks at Household Survey (CPS) numbers and concludes we are in the worst employment drop in the post WWII era.

So there are your options. We're already at the 74/81 recession levels and worst employment drop ever/the fifties were worse levels if the recession stops this month. Otherwise, we make a run at the record books. Which do you think is going to happen?

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