Monday, December 14, 2009

Unemployment in the 1980s

SilverOz made a comment to a previous thread that got me thinking -- what was the 1980s like? Well -- here is a chart:



Click for a larger image.

Short version: it took about 6 years to get back to full employment in the 1980s.
Posted by Hale Stewart at 12/14/2009 12:35:00 PM

1 comment:

SilverOz said...

I have been using that graph a lot lately (without your arrows). It is very instructive on how long it will likely take (at a minimum) to get us back to full employment. I expect we will see a smaller initial drop, but will still end up around 7-7.5% within 4 years. It is simply unreasonable to think that we have some magic bullet that will cause unemployment to drop to 6% in 2-3 years.

December 14, 2009 at 1:40 PM

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