Tuesday, June 7, 2011

Chart of the week: the tyranny of the negative slope in jobs

From the Washington Post, a breakout of job losses and gains for the Great Recession, graphically represented below:

Note: BLS manufacturing statistics for the chemicals subsector does include the pharma manufacturing as well. 

11 comments:

  1. Am I reading this correctly? Thin grey line indicates a subsector?

    So, there's a subsector of chemical employment out there that's lost nearly 40% of its employees in 4 years?

    Is that the Pharma line? :(

    ReplyDelete
  2. Dotted one is chemicals subsector.

    In non-durable goods manufacturing, the thin grey line that has taken the biggest beating (the one on the bottom) is textile mills. 180k to 122k. China, all China, there.

    ReplyDelete
  3. CJ - I don't agree that textile mills have taken the biggest beating. So they lost 58k jobs. Chemicals and plastics lost 226k with chemicals still dropping. But really to me it looks that it is printing, 163k jobs lost and still in steep decline, that is heading for the crapper.

    ReplyDelete
  4. They've got to start putting that last one in ironic quotes.

    1)Before Recession
    2)Recession
    3)"Recovery"

    ReplyDelete
  5. With all the fantastic news lately, should change the name of this site to ChemSobber....

    ReplyDelete
  6. CS just doesn't have the same ring.

    ReplyDelete
  7. Sure it does! There's jobs in CS.
    (Get it?)

    ReplyDelete
  8. It must totally suck to work at Pfizer.

    http://www.bloomberg.com/news/2011-06-07/pfizer-may-seek-1-billion-in-yearly-cost-cuts-wsj-says.html?cmpid=yhoo

    ReplyDelete
  9. "It must totally suck to work at Pfizer."

    Question is, where does it not suck to work? Who is not cutting?

    ReplyDelete
  10. Unstable IsotopeJune 8, 2011 at 9:17 AM

    From where I sit it looks like bio is the hot field.

    ReplyDelete
  11. U.S. Unemployment may stay at 8-9% for a very long time according to this study:

    http://www.politiquessociales.net/IMG/pdf/US-EU-UR-2009-05.pdf

    ReplyDelete