Quote:
Originally Posted by kettlepot
Not to downplay how bad the 2008-09 recession was, but unemployment peaked at 10.0% in late 2009.
During the 1981-82 recession, unemployment peaked at 10.8%.
The 2008-09 recession was not unprecedented. It just felt that way to people with shorter historical timelines. Plus the entire period from 1979 - 1982 was economically problematic with sky high inflation coupled to high and then very high unemployment, married to a deteriorating international situation.
To verify the unemployment data:
https://www.bls.gov/opub/mlr/2018/ar...employment.htm
I guess I don't see the Millenials as "lost" because they are always talked about and has real media and historical image, but Gen X is just lost in a historical haze, dazed and confused. |
I think they key difference is that things got better. One of the wealthiest periods of American history followed soon after that.
For most of us, the last recession never really ended. It has generally only gotten better for the people who were already doing well.
Likewise, the way things work is drastically different in modern day. The corporate ladders don't have rungs near the bottom anymore, for one. There are likely thousands of social and economic nuances to take into consideration. The future for my age group looks very very dim.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
