The "1980" recession started 4 months before the low point, and ended 6 months after it.
The "1981" recession started 17 months before the bottom, and ended 11 months after it.
How can the two overlap? It doesn't seem possible, but this chart seems to be telling me there was a period sometime in 1980 where the unemployment rate was different from the unemployment rate.
The year indicates the year the recession began, not the year of the low-point. The creater of the chart has another one that illustrates this a bit better: External Link
Basically, employment shrank in early 1980, but within 10 months, had returned to its pre-recession level.
Employment shrank again in 1981 and this time, took 28 months to return to its pre-recession level.
That chart leaves me scratching my head:
The "1980" recession started 4 months before the low point, and ended 6 months after it.
The "1981" recession started 17 months before the bottom, and ended 11 months after it.
How can the two overlap? It doesn't seem possible, but this chart seems to be telling me there was a period sometime in 1980 where the unemployment rate was different from the unemployment rate.
Reply to this commentLinkReport AbuseThe year indicates the year the recession began, not the year of the low-point. The creater of the chart has another one that illustrates this a bit better: External Link
Basically, employment shrank in early 1980, but within 10 months, had returned to its pre-recession level.
Employment shrank again in 1981 and this time, took 28 months to return to its pre-recession level.
Reply to this commentLinkReport Abuse