The unique scale of job losses in the current recession

(written by lawrence krubner, however indented passages are often quotes). You can contact lawrence at: lawrence@krubner.com

Calculated Risk posts this surprising graph of job losses during the current recession, compared to all other post-war recessions:

Job losses during this recession

2 things surprise me:

1.) the scale of the losses

2.) the fact that $700 billion in fiscal stimulus, and the loosest monetary policy ever, merely brings the employment line up to a horizontal line, but doesn’t cause any big upward spike

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