We’re NOT in Another Great Depression. Seriously.

by Tyler Osby on October 24, 2008

Are You in Line for the Great Depression?

There is doom and gloom everywhere.

Let me be candid, we are living scary times.  I’m not refusing that.  However, we ARE NOT facing anything like The Great Depression.  I wish you’d get out of that line and realize that we’re in a different time.

Don’t believe me?  Here are the facts.

Unemployment is currently 6.1% (source: US Department of Labor).  I know, not sexy. Still….

During The Great Depression, unemployment peaked at 25%.  Wow!  Even towards the end of the 1930’s unemployment was about 15%.

Now, wouldn’t you agree that we have quite some way to go before things get to that point?

If you want my opinion (not like you have much of a choice, huh?).. I think things will get worse before they get better.  In some sectors of the economy, much worse.  However, this is not a Great Depression.

More interesting statistics to follow in the future… But seriously – Stop saying it’s The Great Depression.  It’s not.

Original Photo Kudos

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Tagged as: Depression, facts, great depression, Unemployment

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