Yglesias

Current Job Losses: Not as Bad as the Great Depression

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CREDIT:

The current recession is “the worst since the Great Depression” but it’s still a good deal better than the Great Depression. Justin Fox has a chart that makes the point:

recession_depression_1.gif

The data’s not directly comparable because farm employment was a bigger deal back then, but this is about as close to an apples-to-apples comparison as you can find and the apples of the 1930s were much, much, much worse than our apples.