We’ve all heard about the subprime mortgage crisis, the automotive and banking bailouts. We’ve all known someone (or many someones) who’ve been out of work. And, most recently, we’ve all heard that the job market is getting better.
So what’s all that look like? This infographic by Elefint Designs and Glassman Wealth Services will walk you through the last eight years of the U.S. job market, sector by sector, eschewing confusing employment rate figures for sheer job loss and gain.
Without any context at all, the story tells itself. Construction was adding more and more people to build during the real estate boon, until 2008, when everyone was fired. The health care industry keeps adding jobs--no doubt fueled at least in part by the aging baby boomer population--and rode out the financiapocalypse with relative grace. While most industries saw some limited recovery in 2011, government employees are still suffering (a ripple the Wall Street Journal attributes to state and local cutbacks that actually began in 2008), and sadly, the current bump in professional services may not indicate as much as we think. Temp jobs, the best indicator of job growth in that sector, have been stagnant.
But if any one thing is completely clear from this graph-heavy picture, it’s that one less devastating year will not be enough to offset the last several. Things may be getting better but we still can’t call them good or even normal. And job creation aside, it can take more than a job earning a decent wage to dig out of debts acquired from long-term unemployment.
Then again, pretty colors! Graphs that point up! Woo 2011!
[Image: Martin Fischer/Shutterstock]