Bailout

Aggregate Hours and Market

By Anonymous

Click on graph for larger image in new window. The first graph is from Doug Short of dshort.com (financial planner): "Four Bad Bears". Note that the Great Depression crash is based on the DOW; the three others are for the S&P 500.

Here are aggregate hours index for the last six recessions, with the index normalized to 100 for the last month of the recession. (ht Bob_in_MA)

Notes: Recessions are labeled based on the starting year. The 1980 line (green) ended early because of the 1981 recession. The 2007 recession is not included since we don't when it will end!

This shows the weak labor market following the 1990 recession - the red line hovers around 100 for about a year following the official end of the recession.

This also shows the aggregate hours index was flat for a few months following the 2001 recession (blue line) and then declined until mid-2003.

Full post as published by Calculated Risk on June 09, 2009 (boomark / email).