Crisis: is it still about people?
Saturday, April 25th, 2009One of the leading economic web-analysts - woodwardhall.wordpress.com - has made some interesting and unpleasant at the same time calculations. He has compared the contemporary crisis with the Great Depression in the terms of the biggest economic problem concerning people. Yes, I’m talking about unemployment!
For sure, theoretical economists can ague that statistics differs (now and in 1929). Also they can mention that the accuracy of the numbers in the beginning of the XXth century was lower than we have today. But the main thing regarding unemployment that is completely the same in 1929 and in 2009 says that people have suffered that times and they suffer today as they loose their jobs and their beliefs.
So, returning to numbers I want to show the graph from the mentioned above blog. It shows that the unemployment in March 2009 was the highest “negative tend” since the Great depression. Look yourselves:
