Monday, June 6, 2011

Great Depression Employment Situation

In response to my post This Time IS Different, reader DIY Investor asked to see the information EconomPic presented, but for the Great Depression. Here you go...

The key takeaway... things were WAAAAAYYYYY worse than the recent 6% drop. Note (however) the rather remarkable snap back post 1933. The result is that within 10 years following the start of the Great Depression, employment was within 4% of the previous peak (and was positive year 11). Sadly, not too dissimilar to the -2% reduction in private employment we have seen over the last 10 years.

Source: U-S History