This Jobs Chart Will Scare You and Put Things Into Perspective
Posted on June 1, 2012 at 3:36pm by Becket Adams
After the Labor Department released its “dismal” jobs report this morning, Business Insider thought it would be useful to revisit the following chart from from Bill McBride at Calculated Risk:
Click to enlarge.
Wait a minute. What are we looking at here?
“What it shows is the trajectory of job losses and gains from the start of the recession and the ‘recovery’ compared to all other post-WWII job losses and recoveries,” Business Insider’s Joe Wiesenthal explains.
“As you can see, this collapse was totally unprecedented compared to past ones, and the recovery was far weaker than any others,” he adds.
But don’t worry, Rep. Barney Frank (D-MA) says President Obama has helped turn this economy around.
1 comment:
Question:
What's the actual cost for every job he created?
Answer:
Congressional Budget Office the current cost-per-job created is somewhere between $4.1 million and $540,000
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