Unemployment Worst since the Great Depression, NOT Getting Better

-By Warner Todd Huston

Don't believe a word of the happy talk you hear from the Obama Administration when they say that the jobs situation is getting better. It isn't.

In fact, the current job loss stats are the worst since the years right after the Great Depression and it is not getting better.

The CalculatedRiskBlog had this disheartening graph showing that the jobs situation is worse than every down turn from 1948 to date.

What the graph also shows is that, contrary to what the administration is constantly saying, jobs have flattened out and are not coming back at this time. The other dips in previous recessions show that jobs came back fairly quickly, but this time they are not coming back.

CLICK ON CHART TO ENLARGE

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