datn:
Job Losses in Recent Recessions
Pelosi’s graph has a lot of flaws. Granted, it’s not good out there, but this graph over-exaggerates what is going on.
- The graph is in absolute terms, not percentage terms. In a growing workforce, that is misleading. Admittedly the percentage losses this time around are still higher than in the last two recessions, but it’s not as bad as the above figures make it out.
- Measuring the current recession against the last two is highly selective. What’s so special about 1990 and 2001? Matter of fact, both were fairly moderate recessions, certainly nothing like the 1982 recession, for example. Better yet, why not compare against all recessions, or a distribution of same?
TIME has a more accurate graph here, comparing this recession to the last five:
(Tumblr dashboard users click through to see graph)
