Today, the Labor Department reported that nonfarm payrolls (jobs) decreased by 11,000 in November -- the smallest decline since the recession began at the close of 2007. Today's chart puts that decline into perspective by comparing job losses during the current economic recession (solid red line) to that of the last recession (dashed gold line) and the average recession from 1950-2006 (dashed blue line). As today's chart illustrates, the current job market has suffered losses that are more than triple as much as what occurs at the lows of the average recession/job loss cycle.
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"Confidence grows at the rate a coconut tree grows. It falls at the rate a coconut falls." - Montek Ahluwalia
Events of the Day
December 10, 2009 - Nobel Prizes awarded (announced in October)
December 11, 2009 - Hanukkah (1st day)
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