Jobs are bottoming?

http://www.calculatedriskblog.com/2009/10/comparing-employment-recessions.html <-- click for graph enlarged link in original site











Saturday, October 03, 2009





Comparing Employment Recessions including Revision



by CalculatedRisk on 10/03/2009 08:56:00 AM



Here is a graph with an estimate of the impact of the preliminary estimate of the annual benchmark revision. (ht John)

Click on graph for larger image.

The dashed line is an estimate of the impact of the large benchmark revision (824 thousand more jobs lost).

The
graph compares the job losses from the start of the employment
recession in percentage terms (as opposed to the number of jobs lost).

Instead
of 7.2 million net jobs lost since December 2007, the preliminary
benchmark estimate suggests the U.S. has lost over 8.0 million net jobs
during that period.

Even before the annual revision, the current
employment recession was already the worst recession since WWII in
terms of percent of job losses. The benchmark revision shows this
recession was even deeper. The revision will be reported in February
... just something to remember over the next few months.





Posted by
CalculatedRisk


on 10/03/2009 08:56:00 AM



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Employment