This chart is from http://www.calculatedriskblog.com/ from October 2. I like this chart as it presents a depiction of the relative severity of our current period of economic weakness vs. that of prior periods from both a "duration" and "extent" perspective:
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEi4DXjH0-LG8Mc9P3vx3BCY7RfZ9uQfq3usWhdzwVZ1YXZ5SEwqds7-US0APHWs2wkdjuLvFMa8ZhyphenhyphenFbSricyT4FrQR8a3QyzyGRNb2eU95NTk_0EWhlI5SJ3OxG-_U7Ud4OESrR29Q2Y0/s280/CR+EmploymentJobLossesRecessions+10-2-09.jpg)
click on chart to expand
There should be no doubt that this unemployment situation is severe, especially in light of the fact that other employment/income options like starting one's own business in this economic climate would be (very) difficult.
For those who haven't yet read it, I wrote a blog series titled "Why Aren't Companies Hiring?"
SPX at 1031.47 as this post is written
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