The Slough of Despond – A Chart
Thanks to modern computerized graphics, the reddest of red flags can be seen, understood and shot around the globe with just a few quick clicks. Take a close look at where our jobless recovery and horrid unemployment has landed us–the Slough of Despond, from which only a miracle of statesmanship and a bloodless (preferably) revolution can rescue our flailing nation. Lest anyone forget, our enemies in Washington, DC are planning to tax their way out of this so-called recovery. Calculated Risk promises to have much more on this soon.
The current employment recession is by far the worst recession since WWII in percentage terms, and 2nd worst in terms of the unemployment rate (only the early ’80s recession with a peak of 10.8 percent was worse).
This was well below expectations for payroll jobs, and the unemployment rate was higher than expected (both worse)…
It is not unexpected if you’ve been paying attention.
h/t Business Insider Clusterstock Chart of the Day