Since we are talking about unemployment, and since the cat has never worked a day in her life, Baily chose to lead today's blog entry with a picture of the cat.
How does the unemployment of the current recession compare to previous recessions? Once again, Baily gets her data from Clear View Economics.
- 1973-1975 recession, unemployment went to 9.0%
- 1981-1982 recession, unemployment went to 10.8%
- 1990-1991 mild recession, unemployment went to 7.8%
- After the very mild 2001 weakening of the economy, unemployment went to 6.3%
- Current, Jan 2009, unemployment was at 7.6%
Will it go higher? Probably, is it the worst of all times, hey, I'm a puppy, we are optimistic by nature, the bowl is always half full (well, actually, I eat it right away). It's an opportunity to become leaner, invest at bargains and come out stronger.
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