Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
To me the most shocking thing is not so much the absolute values. It's the curvature. The other graphs all have a positive curvature, that is to say jobs may be lost, but they are lost more and more slowly as time goes on.

This one has negative second derivative, by the looks of it, which means that not only are people losing jobs, job losses are accelerating.

Which is way more scary than the current unemployment rate in and of itself.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Mon Feb 9th, 2009 at 01:19:56 PM EST
[ Parent ]
In effect, job loss is approaching a vertical asymptote.  If presented in percentage form, as suggested by MT, I wonder how it would compare to The Great Depression? (1929-1939?)

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Mon Feb 9th, 2009 at 01:36:13 PM EST
[ Parent ]
a real charmer.  And, it jives with common sense.  Everyone (i.e. businesses) is hunkering down in order to survive.  You don't want to be one of the multitude who will run out of funds, and then what?  And so the screw continues to turn, deeper and deeper.  When will it stop?  When the only businesses left generate necessities ... food, fuel (to stay warm), etc.  All the other crap of our "advanced society" ... all the electronic toys, clothes, new cars, etc.  You can live without them.  And probably will for a good long time the way things are going.

They tried to assimilate me. They failed.
by THE Twank (yatta blah blah @ blah.com) on Mon Feb 9th, 2009 at 01:44:24 PM EST
[ Parent ]
... it'd look more like that.

In reality, the steepest post-war recession in the US was the immediate Post-War recession, which is masked by the use of numbers of jobs lost rather than jobs as a percentage of the population ... but while that was quite steep, it was also met with prompt and strong post-war economic reconstruction policies, so the recovery was also quick.

I've been accused of being a Marxist, yet while Harpo's my favourite, it's Groucho I'm always quoting. Odd, that.

by BruceMcF (agila61 at netscape dot net) on Mon Feb 9th, 2009 at 02:06:36 PM EST
[ Parent ]


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