Scared yet? Unemployment rate drops off the proverbial cliff

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The dramatic chart below compares job losses from the past two recessions in 1990 and 2001 to the current economic crisis.

Thirteen months into a downward trend from a peak job month, employment numbers in 1990 and 2001 began to stabilize, but in the current recession the steep drop continues, with a total of 3.6 million jobs lost, and much of that in the past 4 months.

Scary chart provided by The Gavel.

Post by ILO on 02/07/09 at 12:17 pm