It's Always Darkest When It's Darkest

Just a quick post with the latest in bad news numbers.  Andrew Sullivan has this as his chart of the day (link) and I agree.  So with that is Calculated Risk's percent job-loss report (link):

You can go ahead and puke now.  And feel free to blame whomever you'd like.


  1. Why puke? You are at the bottom already... I mean, if you owned a company, would you hire back the deadweight employees now that you have found that you can operate with 6% less workforce? Why pay for 100% of the deadweight's salary and benefits when you can just pay your pro rata share of their never ending unemployment benefits. If you want to puke, puke that congress keeps extending benefits to deadweight.

  2. I'm interested in an economic recovery/growth. I don't see one in that chart. I do see that the we reached the bottom and we're now stuck. Given my interests, I want to see 'deadweight'(People who want to work) becoming contributing members to the economy. The economy creates more when the workforce is employed. Property values go up. Asset values go up. 'Deadweight' has a chance to send their kids to college. Less people become 'deadweight'.

    How many steps would it take you to become 'deadweight'? Should we celebrate your losses as found efficiency? Should we puke when you get help paying your mortgage and feeding your kids until you find a way to stop being 'deadweight'? Do you have any understanding of the amount of pain being represented in this chart?

  3. Who says I am celebrating high unemployment as new found efficiency? I am merely pointing out why I think there is not significant additions to the workforce... employers are reaping the benefits of new found efficiency. Take a look around T-Bone... are there any empty desks? Is there the same amount or more work?

    How many steps would it take for me to become deadweight? Hard to say... though I have been unemployed before, and collecting unemployment was just about the worst thing imaginable. I am sure there is a lot of pain as well, not all that I can relate to, but I still don't think benefits should be extended forever. How many mortgages should the US goverment pay?

  4. Look out below, buddy. Look out below.

  5. Look out below? I don't follow...


    Looks like the private sector needs to hire.

  7. If your point is that we're experiencing productivity increases, then that's fine. It's missing the point of the chart and why it's upsetting. It's also missing the lost human capital caused by extended periods of high unemployment. It's also missing all the lost productivity in the economy.

    Here's a very interesting post from economist Mark Thoma on why we are experiencing unemployment. Suffice it say, its not just productivity growth that is keeping employers from hiring.

    I completely disagree with you that extending unemployment benefits during the worst job recession since the great depression is unwarranted. Frankly, its a necessary economic stabilizing force and many more people would be unemployed without their use. People don't want to settle for the reduced economic prospects and real status loss of being unemployed. I don't think it needs to be said, but unemployed people would rather have a job.

    If you're trolling, then a term like "Deadweight" is exactly what you should use to get a curt response. If you're looking for a meaningful discussion, you could try using less inflammatory terms.