A Point about a Jobs Chart That Seems to Have Been Missed


The following chart, showing the job losses that have occurred in the nine economic recessions that have occurred since World War II and the rebound in job growth following those recessions, very recently appeared in Business Insider.

Jobs Chart

The chart has been taken from the site Calculated Risk, and the brief accompanying article quotes Bill McBride of Calculated Risk on the chart’s implications: “”The dotted line is ex-Census hiring. This shows the depth of the recent employment recession — worse than any other post-war recession—and the relatively slow recovery due to the lingering effects of the housing bust and financial crisis.”

I have seen similar comments on the slow recovery in job creation in the aftermath of the Great Recession. But what this chart makes very clear—and what I have never heard or seen any commentary on—is the pattern that has developed over the last three recessions.

Notice that…

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