Wednesday, 18 November 2009
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Unemployment Trends over the Past 60 Years
Dan@xanga sent us a link to a cool infographic looking at American unemployment by decade over the past sixty years. The author, a member of Generation Y (the millennial generation), said he wanted to compare unemployment throughout the years after so many people had told him, "You didn't live through the '70's... trust me it was way worse."
As you can see in the graph, unemployment in the '70s (light green) was higher than that of the 2000s (red) much of the time, but that red line's spike in 2008 and 2009 is pretty troubling. In the lower image, covering Month over Month, the author labeled September 1983, which marked a radical drop in unemployment, and January 2009, when many Americans lost their jobs.
The graphic is interactive, so be sure to check it out online, where you can click on different years to make your own comparisons.
Have you heard a lot of comparisons between our current recession and the 1970s? Do you think our unemployment rate will continue to rise in 2010?
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Comments (9)
I don't spend a lot of time worrying about things that happened 20 years before I was born. Unless thinking about unemployment from over 30 years ago can help it now. Can it?
My APUSH teacher told us that this type of economic slump recurs every 20-30 years. It's been like that since the nation began in 1776. Kinda makes you wonder if the government is behind everything...
Based on that, the 60s generally had the lowest unemployment. The only comparisons that I have heard are about how getting a job was easier in previous decades. I think that unemployment will continue to rise into the next decade. It has already been steadily rising in the last 3 years.
It looks like the worst period of unemployment took place in the 80's - or am I mis reading the graph?
justme
cm
@the_last_timelord@xanga - yeah, my prof used to tell me that too. and good periods coincide with more people having children, stuff like that.
@the_last_timelord@xanga - wait omg we call it apush too! (usu. people call it ap us) and my apush teacher told us the same thing! O_O do i know you?!
@cornyonacob@xanga - ummm... idk. i go to rowland high. is that where you go?
@the_last_timelord@xanga - nvm :[
sigh my moment of excitement is over.
I made that comparison when it started, citing book I read once where a housewife was chronicling the mid-1970's economic downturn when she started flirting with her butcher to get better cuts of meat and went weeks without coffee. The people around me, though, especially those that are older than 50, think we're as bad off as the 1930's (because the South usually just stays poor) and that we're about to hit apocalypse. I think that's just wishful thinking, though. I do, however, have my apocalypse survival kit handy just in case.