Apr 10, 2009
Divergence: Job losses and time to recovery
From a WSJ article on the job market. The interesting thing is at the bottom of the chart - the divergence between the percentage of jobs lost from peak to trough versus the number of months it took to recover post-recession. Until the most recent downturn, there is a clear trend of job losses becoming less and less severe (the great moderation?), going from 7.9% to 1.2%. In spite of this, the time to recovery shows the opposite trend, increasing from 18 months to 48 months.
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1 comment:
I'd like to see if income inequality at the time of the recession had any effect on how long it took to recover (perhaps it's higher now than it has been since those earlier years).
Also you forgot to title your blog post.
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