Joe Weisenthal

We've dubbed this chart the "Scariest Job Chart Ever," as it shows how the decline in employment is WAY uglier than in past recessions.

Calculated Risk has updated it with the latest
numbers from this morning, and now it looks even scarier.

Why?

Check out the two red lines at the bottom. The solid one includes Census hiring, while the dotted line doesn't include it.

What's clear is that while we still have a rebound including Census hiring, we're already flattening out on the dotted line. This is a shape
not seen on the other lines. suggesting that the fall is extremely
deep, and the recovery is shallow.