CHART OF THE DAY: THE SCARIEST JOBS CHART EVER

[FarCenter]

http://www.businessinsider.com/chart-of-the-day-job-losses-in-post-world-war-ii-recessions-2011-10


Thus we bring you the updated chart from Calculated Risk, showing how this jobs collapse (and "recovery") compares to past recessions.

As you can see, there's just no comparison: This jobs crisis was WAY deeper than past ones, and while most of the others recovered in something resembling a "V," this one is clearly more of an "L."

[liberal N proud]

1. And congress will continue to pander to the rich and corporations

Leaving the rest of America behind.

[AndyTiedye]

4. "Citizens United" Guarantees That

[FredStembottom]

2. Looks like the "V" shape is extinct after 1981.

"Benefits" of a Global economy?

[FarCenter]

3. I think it is because of a shift away from manufacturing employment to services

In a manufacturing employment economy, they Keynesian prescription of increasing government spending to stimulate demand works by stimulating hiring to produce the increased amount of goods.

However, in an economy where manufacturing is either highly automated or off-shored, and most of the jobs (~70%) are in the service sector, government spending doesn't result in much expansion in demand for services nor in service employment hiring.

Once you've lost your job and started doing your nails at home, are you going to go right back to the nail salon?

Same thing if you've given up that Starbucks or MacDonald expense in favor of brown bagging.

[indepat]

5. Tis amazing that this much economic damage could have been inflicted without

any crimes having been committed. :shrug: :patriot: