Friday, April 25, 2008

The Long Term Picture of Unemployment

This graph shows the annual rate of increase in our national unemployment. The number of months that we have grown unemployment on a Y/Y basis and the percentage growth we are now seeing strongly suggest that we are in a recession.



dcmart said...

Isn't it also fascinating to see the line vacillating less extremely as we moved out of the 1970s to a more free-market economic model? With potentially destructive government spending on the horizon, I wouldn't be surprised if that unemployment number shot up again, at least in the next four years.

Dismal Deacon said...

Interesting take, dcmart. One I had not thought of.

Long term grahps of GDP so a similar decline in "vacillating" right after WWII. It has always been my contention that Keynesian Econ was the cause.