"What losing 4.4 million jobs over 14 months looks like."
In February, employers cut 651,000 jobs , and the national unemployment rate soared to 8.1 percent — the worst since December 1983. The Gavel provides a graph comparing recent job losses to the 1990-1991 and 2001 recessions, showing just how dire the economic situation is today:
By comparison, we lost a total of 1.6 million jobs in the 1990-1991 recession, before the economy began turning around and jobs began increasing; and we lost a total of 2.7 million jobs in the 2001 recession, before the economy began turning around and jobs began increasing.
“Over the last 14 months, the economy has lost a total of 4.4 million jobs – and continuing job losses in the next few months are predicted.”