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Please press play and observe the course of the last 15 years. What immediately hit me while I was watching this was 2005 - 2006 when New Orleans (due to Katrina) rapidly went from large blue to large orange cluster literally over-night. There were no steps in between (gradual decrease / shrinkage), just baaam, growth-to-decline over-night and then back to growth.
Also looks like Detroit was the very first place in the country to enter the Great Recession in 2007 and the early 2000's recession was larger than most think.
Enjoy the cool map. It's an interactive map, so you can press the bubbles (iPad / Android / iPhone users) or hover your cursor over it and it will give you all the details about the place you clicked on.
Last edited by Trafalgar Law; 10-23-2014 at 05:26 PM..
I pressed a few of the massive orange bubbles, it's nightmarish to think some places actually declined by over 400,000 jobs in just 18 months, 2009 - 2010.
Absurd.
Nothing on the Great Depression (where the United States' economy contracted by over 60% ($88 Billion to $40 Billion)) and there were 13 million / 25% unemployed (nationwide) then at it's peak when the country was far less populous but the Great Recession was an absolute albatross too. The 2000's were pretty much a lost decade, economically speaking for the United States.
Looks like August 2009 was when it was at it's worst.
Last edited by Trafalgar Law; 10-23-2014 at 06:02 PM..
I pressed a few of the massive orange bubbles, it's nightmarish to think some places actually declined by over 400,000 jobs in just 18 months, 2009 - 2010.
Absurd.
Nothing on the Great Depression (where the United States' economy contracted by over 60% ($88 Billion to $40 Billion)) and there were 13 million / 25% unemployed (nationwide) then at it's peak when the country was far less populous but the Great Recession was an absolute albatross too. The 2000's were pretty much a lost decade, economically speaking for the United States.
Looks like August 2009 was when it was at it's worst.
The Great Depression is overblown. Nothing about that decade was calculated. The term GDP wasn't even coined until the late 30s. Unemployment in America wasn't calculated until after WWII. Everything about the Great Depression, from the unemployment rate to the shrinkage of the economy, is retrospective fabrication.
I pressed a few of the massive orange bubbles, it's nightmarish to think some places actually declined by over 400,000 jobs in just 18 months, 2009 - 2010.
Absurd.
It probably wouldn't seem as bad if the bubbles represented percentages, but yea it was a pretty bad recession.
Also, much of Michigan (including Detroit) never really recovered from the 2001 recession. It wasn't until 2011 that the state started posting positive job gains.
It probably wouldn't seem as bad if the bubbles represented percentages, but yea it was a pretty bad recession.
Also, much of Michigan (including Detroit) never really recovered from the 2001 recession. It wasn't until 2011 that the state started posting positive job gains.
From my understanding, both Detroit and Michigan have stabilized. I think both are still below peak employment (well I would imagine Metropolitan Detroit still is, as it was in March) but the general trajectory is towards topping previous peak employment, albeit slowly.
The Great Depression is overblown. Nothing about that decade was calculated. The term GDP wasn't even coined until the late 30s. Unemployment in America wasn't calculated until after WWII. Everything about the Great Depression, from the unemployment rate to the shrinkage of the economy, is retrospective fabrication.
I don't think it ever was a fabrication though, sure the impact wasn't as wide-scale as the Great Recession today, simply because America is a several times more global nation now economically than it was back then.
The Federal Reserve was created around this time period, government agencies that don't exist anymore were created due to the Great Depression (like the National Relief Act, WPA, so on; and their funding was cut / they were folded when employment recovered during the war), and terms were coined to measure the impact this economic tragedy had on our country and world. It wasn't a Wall Street crash that started the Great Depression, that was an after-effect of the global economic slowdown in Europe at times of unease and the slowdown of American manufacturing, over-supply of commodities, less demand for the commodities, inflation on pricing, and national wages remaining stagnant. It wasn't until Roosevelt's third presidential term (of the four terms he won) that employment recovered, and that was primarily attributed to the embargos on trade with Japan which ultimately led them to attacking Pearl Harbor and starting World War II involvement for us. They replaced all car building with arms and weapon building in the factories of Michigan, Ohio, so on which ultimately led to more need in employment and recovered the losses of the Great Depression. For perspective it took nearly 10 - 15 years for the country to recover from that one.
Okay though, if you don't want to use the Great Depression as a benchmark for economic tragedy that exceeded the severity of the Great Recession of 2007 - 2010, then how about the Recession of the 1980s during Reagan's term? Unemployment was 1 million higher at it's peak then as compared to the peak of the Great Recession, while America as a whole was less populous. The percentage unemployment was higher than what we experienced in this most recent meltdown and it the recovery was much longer. The misery index for this recession approached just slightly less than the Great Depression and when compared to the Great Recession, exceeded it.
There is solid reason to believe it was also worse than the Great Recession.
Interesting visualization thanks for posting the link
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