Job Losses Continue to Rise

by Marilou Moursund on April 3, 2009

in Economic Indicators

At 17 months and counting, the current recession has lasted longer than the previous worst two recessions: Nov. 1973 – Mar. 1975 (16 months with 9.0% unemployment) and Jul. 1981 – Nov. 1982 (16 months with 10.8% unemployment).  The jobs report released this morning showed another 633,000 jobs lost in March, and the unemployment rate rose to 8.5%.

The market has rallied about 20% from the March 9th lows, and as Laura has noted, unemployment is a lagging indicator.  The ISM Purchasing Manager Index showed a slight uptick for March at 36.3, so the tension continues between a few positive economic indicators and the continuing job losses.

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Unemployment Rate hits 26 Year High | Crossvault Blog
July 2, 2009 at 2:43 pm

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