CHART OF THE DAY: THE SCARIEST JOBS CHART EVER

Business Insider ^ | Jul. 6, 2012, 10:43 AM | Joe Weisenthal

[DBCJR]

The latest jobs report was a major disappointment, as the 80K number of net new jobs created was below the 100K that was expected, and well below any pace that will quickly reduce the unemployment number, which remains elevated at 8.2%.

And so we bring you the latest, updated version of this famous chart from Bill McBride at Calculated Risk, which shows the trajectory of the jobs decline (starting at the beginning of the recession) and the recovery, compared to all of the other post-WWII recessions.

Once again, the decline is far deeper than anything previous that we've seen, and the comeback remains bad.

[See chart at site: The accompanying chart shows 12 months after the job peak in 2007, when MOST recessions turn upward in job formation, and when Obama took office, this joblessness rate took a protracted downturn. This is clear proof of Obama's failed policy.]

[expat2]

It’s a pity the Great Depression data is not shown, too, for comparison.

[BreezyDog]

[bigbob]

boy, old GW Bush really stuck it to Obama, didn’t he? /sarc

[norton]

I'd rather see the current line broken out into public and private sector jobs because one needs to be going up and the other needs to keep going down.

It drives me up a wall listening to Obama constantly pimping for more teachers and police officers because "the private sector is doing fine".

If they want more police and firefighters and need to balance budgets the logical path would be to dump useless bureaucrats and SEIU members without firing the people we actually need.

[jonrick46]

This graph should be the throw down shot for the Obama Regime. Get that doofus out of the ring!

[TwelveOfTwenty]

The Obama predicted 5.6% by now if his stimulus was passed.

[jonrick46]

The public sector has become an industry that takes more taxes, fees, tolls and fines out of our back pockets. Today it taxes us for not doing what it wants. Tomorrow it will tax us for the air we breathe. It is a parasite that exists like a cancer on our future.