Above you can see the US Unemployment Rate since the 1930's. So comparisons to the 1930's seem quite overblown. It is likely that the unemployment rate will continue to rise, but more likely to levels seen in 1992, when the rate was 7.8%, or in the early 1980's when the rate hit 10.8%. So perspective is needed when analyzing the current situation.
November 12, 2008
The Worst Economy Since When?
Above you can see the US Unemployment Rate since the 1930's. So comparisons to the 1930's seem quite overblown. It is likely that the unemployment rate will continue to rise, but more likely to levels seen in 1992, when the rate was 7.8%, or in the early 1980's when the rate hit 10.8%. So perspective is needed when analyzing the current situation.
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1 comment:
people definitely play up the economy as a horrible one. However, the graph shows that we are better off than we have been even in the past. The 80s and the 90s were in a worser condition than we are now. when you truely do look at the statistics and graphs of a situation is truely does give you a sense of reality that the world is better off than we are making it sound
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