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Ugly chart of the day: Compared to all post-WWII recessions, the current period has seen the...

Ugly chart of the day: Compared to all post-WWII recessions, the current period has seen the most aggressive job cutting and the weakest recovery.
Comments (17)
  • montanamark
    , contributor
    Comments (1434) | Send Message
     
    someone tell the obama media
    8 Jul 2011, 09:48 AM Reply Like
  • Monngie
    , contributor
    Comments (928) | Send Message
     
    Geez montanamark, I figured you'd be super glued to Faux....er Fox News.
    8 Jul 2011, 01:51 PM Reply Like
  • Positive Equity
    , contributor
    Comments (483) | Send Message
     
    Old news. Buying time!
    8 Jul 2011, 09:53 AM Reply Like
  • Windsun33
    , contributor
    Comments (4254) | Send Message
     
    I am not really surprised by the lack of job growth. Just recently our company was faced with needing another person in shipping/packing, or upgrading to some new equipment to make packing and shipping a lot faster and easier - we went with the new equipment.
    8 Jul 2011, 09:56 AM Reply Like
  • Monngie
    , contributor
    Comments (928) | Send Message
     
    There's a lot of that going on. I just wonder who's going to be able to buy anything in 25 or 30 years when virtually everything will be made by robots and managed by computers
    8 Jul 2011, 01:55 PM Reply Like
  • Duude
    , contributor
    Comments (3358) | Send Message
     
    If one was to research the last 4 recessions prior to the most recent and compare you'd find that though the 81-82 recession was the deepest in terms of unemployment and high inflation it rebounded at a faster pace than the 91-92, 01-02 or the 08-09. The 91-92 wasn't as deep as the 80's recession but it was deeper than the 01-02, yet its rebound was slower than the 80s and faster than the 01-02. In fact, no matter the depth of the recession, each successive one saw an even slower rebound pace than the one prior. But now that we've seen high unemployment similar to the 80s recession and its later on the timeline of recessions, maybe we'll be in rebound mode for a decade or more.
    8 Jul 2011, 10:04 AM Reply Like
  • Windsun33
    , contributor
    Comments (4254) | Send Message
     
    With each new recession we see more and more government intervention and a slower recovery. Government intervention in the Great Depression was rampant - and it lasted for a decade.

     

    Not saying that there is any direct cause and effect here.. but I wonder.
    8 Jul 2011, 10:18 AM Reply Like
  • Duude
    , contributor
    Comments (3358) | Send Message
     
    we've also piled regulation upon regulation over time. You might have something there.
    8 Jul 2011, 10:22 AM Reply Like
  • Fin858
    , contributor
    Comments (462) | Send Message
     
    I think something that people are not looking at is that the cost of capital is just so cheap that it makes sense to upgrade and update equipment rather than hire people.

     

    Labor productivity is going through the roof and should be a boom for those who still have work. If you look at Personal Income ex. Transfer Payments and Salaries and Wages, both are approaching 2007 highs. Why? Companies are doing the same with less, leveraging computers, logistical systems and productivity to make the same or more profit with lower revenue streams.

     

    Basically, yea structural and frictional unemployment sucks, but if you don't have the skills you shouldn't get the jobs.
    8 Jul 2011, 10:47 AM Reply Like
  • WMARKW
    , contributor
    Comments (10234) | Send Message
     
    Fin858....your scenario is significantly responsible for the current high rate of corporate profits and high rate of unemployment. We are, if nothing else, masters in the US of figuring out how to solve problems, reduce cost, do things faster, simpler, etc. The result is when ever and where ever we can, we find ways to improve profits. That means there will always be a tendency for lower skilled, less productive workers to be candidates for automation and cost reduction.

     

    Unfortunately....little such incentive exists in the public sector. To be fair, there is some...but it is slow in coming. For example, in our state, we now have online renewal for license/registration. The emissions certification is linked with the registration division. It's much faster and easier to get the job done. And yet - at the same time - they insist in expanding public transportation, light rail, etc. Maybe it will be worth something 20 years from now....but for now, it's an investment without a payback.
    8 Jul 2011, 01:04 PM Reply Like
  • Windsun33
    , contributor
    Comments (4254) | Send Message
     
    You are correct in much of what you say. Here in Phoenix, while I can pay my city water bill online, it is a long convoluted login process, and there is no option at all to just set up automatic payments of any type, nor can I elect to get the monthly city news letters by email.

     

    The State of AZ has done much better - you can renew and pay everything online, even renew drivers licenses if you have no tickets for 3 years.
    8 Jul 2011, 01:55 PM Reply Like
  • montanamark
    , contributor
    Comments (1434) | Send Message
     
    and meanwhile in obamaworld
    politics.blogs.foxnews...
    8 Jul 2011, 10:06 AM Reply Like
  • Monngie
    , contributor
    Comments (928) | Send Message
     
    Faux..er Fox News. Geez, I guess I called that one. Recent research shows that people that watch Fox News are more uninformed than anyone else.
    8 Jul 2011, 01:57 PM Reply Like
  • Windsun33
    , contributor
    Comments (4254) | Send Message
     
    Actually, as several recent polls/studies have shown, watchers of MSNBC tend to be the least informed. www.politifact.com/tru.../
    8 Jul 2011, 02:01 PM Reply Like
  • Rob Viglione
    , contributor
    Comments (331) | Send Message
     
    Fiscal and monetary policy "cures" are running out of steam. My guess is that they only work for a given range of balance sheet leverage.
    8 Jul 2011, 10:12 AM Reply Like
  • BAM90
    , contributor
    Comment (1) | Send Message
     
    One issue One fix.

     

    ISSUE:
    Housing. You cant give and then take 7+Trillion in value away from the american consumer and expect anything less. The millions of jobs in the Real-Estate space evaporating with the unwinding of the financial engineered previous recovery has to be dealt with.

     

    FIX:
    Upgrade as many families as you can from Old Homes to the new ones sitting vacant owned by the banks. Hire and ton of workers to scrape all the old product off the market.

     

    Grow employment
    Address the HUGE supply demand disequilibrium in housing to start growing values
    Give a ton of working class families a much needed boost in confidence along with, sense of pride and patriotism
    8 Jul 2011, 10:36 AM Reply Like
  • CHIEF523
    , contributor
    Comment (1) | Send Message
     
    how about factoring in size of population end of 1945//132,481,000///vs todays 308,781.000 looks like 176mm more folks to feed how about stopping all the nosence & get real .report real facts not all the junk that creates SPIN!!!!!!!!!!!!!!!!!!!
    8 Jul 2011, 10:36 AM Reply Like
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