Unemployment by Recession

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Job Loss by Recession

The employment graph shows the percentage of payroll jobs lost during post WWII recessions - aligned at maximum job losses.This shows the severe job losses during the recent recession - there are currently 7.5 million fewer jobs in the U.S. than when the recession started.

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Job Loss by Recession

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Percent Job Loss in Recession

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August 2010 Unemployment: 9.6%

For the current employment recession, employment peaked in December 2007, and this recession is by far the worst recession since WWII in percentage terms, and 2nd worst in terms of the unemployment rate (only early '80s recession with a peak of 10.8 percent was worse).

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Unemployment August 2010: 9.6%

The Employment-Population ratio increased to 58.5% in August from 58.4% in July.

The Labor Force Participation Rate increased to 64.7% from 64.6% in July.

The number of persons employed part time for economic reasons (sometimes referred to as involuntary part-time workers) increased by 331,000 over the month to 8.9 million.

According to the BLS, there are 6.249 million workers who have been unemployed for more than 26 weeks and still want a job.

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July 2010:

For the current employment recession, employment peaked in December 2007, and this recession is by far the worst recession since WWII in percentage terms, and 2nd worst in terms of the unemployment rate (only early '80s recession with a peak of 10.8 percent was worse).

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Job Market

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Job Loss

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Saving Jobs

And the White House came right out and with a straight face said it had saved 2 million jobs. How do you like that? More than 7 million jobs have disappeared in the correction so far. But the total would have been more than 9 million, had it not been for the feds.

Let’s see, $700 billion worth of stimulus spending…hey, that’s $350,000 per job. But every dollar of deficit is actually ‘stimulus spending.’ At that rate, each job cost about $800,000. And what about all the Fed’s pump priming? What about all the loan guarantees and toxic asset purchases…and bailouts of the auto industry, AIG, the banks, mortgage holders, Fannie and Freddie…etc. etc? That’s all stimulating too, isn’t it? The total is said to be around $13 trillion, putting the cost at $65 million for each job saved.

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Employment Job Loss by Recessions

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Unemployment by Job Loss

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