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Forces of Change

Economy

The current economic downturn which officially began in December of 2007 is now the longest since the Great Depression. The level of unemployment is the highest in 25 years.

The graph below shows job losses from the start of the employment recession, in percentage terms (as opposed to the number of jobs lost).

For the current recession, employment peaked in December 2007, and this recession is the worst recession since WWII in percentage terms, and 2nd worst in terms of the unemployment rate (only early '80s recession with a peak of 10.8 percent was worse).


 


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