Comments on: Unemployment: Great Depression vs Great Recession http://www.visualizingeconomics.com/2009/07/27/unemployment-great-depression-vs-great-recession/ Making the "Invisible Hand" Visible Fri, 05 Mar 2010 00:29:30 -0500 http://wordpress.org/?v=2.9.2 hourly 1 By: Winston http://www.visualizingeconomics.com/2009/07/27/unemployment-great-depression-vs-great-recession/comment-page-1/#comment-41581 Winston Sun, 02 Aug 2009 22:34:04 +0000 http://www.visualizingeconomics.com/?p=453#comment-41581 Like most everyone else who uses government unemployment figures from widely spaced periods of time, you are comparing apples and oranges. The methodology for calculation has changed greatly over the years, always with the result that unemployment figures are artificially lowered for self-serving reasons: http://www.shadowstats.com/alternate_data A better figure to represent current unemployment vs. the Great Depression figures is one of 21% today. So, why hasn't such high unemployment levels had the same effect? Credit cards, social safety nets like unemployment compensation and, most importantly, the fact that virtually no households had two income earners back then like they do today. Like most everyone else who uses government unemployment figures from widely spaced periods of time, you are comparing apples and oranges. The methodology for calculation has changed greatly over the years, always with the result that unemployment figures are artificially lowered for self-serving reasons:

http://www.shadowstats.com/alternate_data

A better figure to represent current unemployment vs. the Great Depression figures is one of 21% today. So, why hasn’t such high unemployment levels had the same effect? Credit cards, social safety nets like unemployment compensation and, most importantly, the fact that virtually no households had two income earners back then like they do today.

]]> By: | body detox http://www.visualizingeconomics.com/2009/07/27/unemployment-great-depression-vs-great-recession/comment-page-1/#comment-41578 | body detox Sun, 02 Aug 2009 03:02:44 +0000 http://www.visualizingeconomics.com/?p=453#comment-41578 the economic recession has been pretty hard on us. there is some good progress on the economy this year. i just hope that the economy will continue to recover in the following months and years. the economic recession has been pretty hard on us. there is some good progress on the economy this year. i just hope that the economy will continue to recover in the following months and years.

]]> By: Super Mac Apple Consultants » Blog Archive » Depression/Recession… lets call the whole thing off http://www.visualizingeconomics.com/2009/07/27/unemployment-great-depression-vs-great-recession/comment-page-1/#comment-41575 Super Mac Apple Consultants » Blog Archive » Depression/Recession… lets call the whole thing off Thu, 30 Jul 2009 02:03:24 +0000 http://www.visualizingeconomics.com/?p=453#comment-41575 [...] 0 From Catherine over at Visualizing Economics. [...] [...] 0 From Catherine over at Visualizing Economics. [...]

]]> By: Lew http://www.visualizingeconomics.com/2009/07/27/unemployment-great-depression-vs-great-recession/comment-page-1/#comment-41573 Lew Tue, 28 Jul 2009 12:33:00 +0000 http://www.visualizingeconomics.com/?p=453#comment-41573 So... 6,724,000 continuing unemployed is [around] 10%. Would the labor force be around 10 x or about 67 million? What were the number of people unemployed in Great Depression? So… 6,724,000 continuing unemployed is [around] 10%. Would the labor force be around 10 x or about 67 million? What were the number of people unemployed in Great Depression?

]]> By: Catherine http://www.visualizingeconomics.com/2009/07/27/unemployment-great-depression-vs-great-recession/comment-page-1/#comment-41572 Catherine Tue, 28 Jul 2009 02:06:32 +0000 http://www.visualizingeconomics.com/?p=453#comment-41572 I don't know. I only had data going back to 1929 I don’t know. I only had data going back to 1929

]]> By: Traciatim http://www.visualizingeconomics.com/2009/07/27/unemployment-great-depression-vs-great-recession/comment-page-1/#comment-41571 Traciatim Mon, 27 Jul 2009 18:33:02 +0000 http://www.visualizingeconomics.com/?p=453#comment-41571 What is the average unemployment rate from 1915 onward? Is there a 10 year MA chart anywhere? Sorry, forgot to add great post! Can't wait to see your next post! What is the average unemployment rate from 1915 onward? Is there a 10 year MA chart anywhere?
Sorry, forgot to add great post! Can’t wait to see your next post!

]]> By: Daily Links for July 27th | Akkam's Razor http://www.visualizingeconomics.com/2009/07/27/unemployment-great-depression-vs-great-recession/comment-page-1/#comment-41570 Daily Links for July 27th | Akkam's Razor Mon, 27 Jul 2009 18:02:49 +0000 http://www.visualizingeconomics.com/?p=453#comment-41570 [...] Unemployment: Great Depression vs Great Recession [...] [...] Unemployment: Great Depression vs Great Recession [...]

]]> By: Traciatim http://www.visualizingeconomics.com/2009/07/27/unemployment-great-depression-vs-great-recession/comment-page-1/#comment-41569 Traciatim Mon, 27 Jul 2009 15:26:30 +0000 http://www.visualizingeconomics.com/?p=453#comment-41569 What is the average unemployment rate from 1915 onward? Is there a 10 year MA chart anywhere? What is the average unemployment rate from 1915 onward? Is there a 10 year MA chart anywhere?

]]> By: The Best Sites To Learn About The Recession | Larry Ferlazzo's Websites of the Day... http://www.visualizingeconomics.com/2009/07/27/unemployment-great-depression-vs-great-recession/comment-page-1/#comment-41568 The Best Sites To Learn About The Recession | Larry Ferlazzo's Websites of the Day... Mon, 27 Jul 2009 14:55:00 +0000 http://www.visualizingeconomics.com/?p=453#comment-41568 [...] Visualizing Economics has developed a good infographic comparing unemployment in the Great Depression with unemployment during our present recession. [...] [...] Visualizing Economics has developed a good infographic comparing unemployment in the Great Depression with unemployment during our present recession. [...]

]]> By: Good Unemployment Infographic | Larry Ferlazzo's Websites of the Day... http://www.visualizingeconomics.com/2009/07/27/unemployment-great-depression-vs-great-recession/comment-page-1/#comment-41567 Good Unemployment Infographic | Larry Ferlazzo's Websites of the Day... Mon, 27 Jul 2009 14:35:20 +0000 http://www.visualizingeconomics.com/?p=453#comment-41567 [...] Visualizing Economics has developed a good infographic comparing unemployment in the Great Depression with unemployment during our present recession. [...] [...] Visualizing Economics has developed a good infographic comparing unemployment in the Great Depression with unemployment during our present recession. [...]

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