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Unemployment: when to bottom?

Following my previous post on unemployment trend in recessions, here is another comparison (see graph below) across all recent recessions. The question is whether the unemployment rate in this recession will follow the same pattern as seen in the recent two recessions (1991 and 2001), i.e., it takes longer than normal to recover, or “jobless recovery” as termed by Paul Krugman.

(click to enlarge, source: NYT)


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