The Scariest Jobs Chart Ever Isn't Scary Enough | WAMU 88.5 - American University Radio

NPR : News

Filed Under:

The Scariest Jobs Chart Ever Isn't Scary Enough

One of the defining graphs of our time (yes, there are defining graphs of our time) comes from the blog Calculated Risk. It tracks the job market in every U.S. recession and recovery since WWII — and it shows just how brutal the the past few years have been.

Business Insider calls this the Scariest Jobs Chart Ever. But the Scariest Jobs Chart Ever isn't quite scary enough.

The chart cuts off when employment gets back to its previous peak. But, because of population growth, getting back to where we were five years ago isn't enough. To get back to full employment, we need to have millions more jobs than we had then.

This led us to wonder: What would Scariest Jobs Chart Ever look like if you compared the past five years with comparable periods for all of the other postwar recessions. How much worse is it this time?

Here's the answer:

In previous postwar recoveries, the number of jobs was about 7 percent above its previous peak by this point, on average.

In other words, if this had been a typical recession and recovery, the U.S. economy would now have roughly 10 million more jobs than it did at the previous peak. In fact, there are now three million fewer jobs.

Copyright 2013 NPR. To see more, visit http://www.npr.org/.

NPR

Doing The Hard Work Of Becoming A 'Real Man'

The process of becoming a man isn't always an easy one, but poet Saeed Jones says that reading Real Man Adventures by T Cooper, can make the journey more joyful.
NPR

These 5 Crops Are Still Hand-Harvested, And It's Hard Work

Saffron, vanilla, palm oil, cacao and cottonseed oil are still picked by hand in some parts of the world. Sometimes that manual labor shows up in the price of the food; sometimes it doesn't.
NPR

Guns Boom In 2014 Campaign Ads

Ads with candidates shooting guns are proliferating this year. It can all be traced back to Sen. Joe Manchin's famed 2010 spot "Dead Aim."
NPR

Why Do We Blindly Sign Terms Of Service Agreements?

Audie Cornish talks with University of Chicago Law School professor Omri Ben-Shahar about terms of service agreements for software and websites.

Leave a Comment

Help keep the conversation civil. Please refer to our Terms of Use and Code of Conduct before posting your comments.