Anyway, talking about periods of high unemployment.
Looks like the 60s and 70s were largely unharmed in terms of the unemployment rate...
And then from 1994-2009, that was a nice long run.
I'd think the current recession ended somewhere around 2014, in terms of "practically speaking" and the unemployment rate, so we're currently on the fourth year. (Crossed 7% in late 2014, so I guess we can say it officially ended at the beginning of 2015. So technically on the third year out of recession... which is interestingly how long my "high paying" employment history is...)
I think it's probably going to be at least a couple more years before a period of high unemployment.
Seems like critical resource shortages cause unemployment though (Food, oil, mortgages), and oil is the most unpredictable at this point in history. So, I can't predict that. Doesn't seem like there's oil shortages as of now.
Seems like opec embargoes and major middle eastern wars with major oil supplying countries are the primary causes for oil shortgages.
I wonder how much the Iraq war caused an oil shortgage on the markets, and had anything to do with the unemployment rate kicking upto 6% in 2002. I don't know exact figures, but I believe they did 3bln a day... or year... while the globe was doing 80... so the oil markets probably felt it.
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And looking at Houston's unemployment rate curve, looks like it crossed 7% back in... Nov 2011.
So Houston has technically been out of the recession for about 6 full years now versus the nation's 3 full years.
Gives that guy's comment "I found a 50k comp sci job in Houston back in 2011 right after graduating" some context. His parents happened to live in the right state. In my city, recent grads were working for peanuts as volunteers for non-profit organizations. They didn't really start finding higher paying in-the-field jobs locally until 2015, and by higher paying, I mean something like 35-45k.
Looks like the 60s and 70s were largely unharmed in terms of the unemployment rate...
And then from 1994-2009, that was a nice long run.
I'd think the current recession ended somewhere around 2014, in terms of "practically speaking" and the unemployment rate, so we're currently on the fourth year. (Crossed 7% in late 2014, so I guess we can say it officially ended at the beginning of 2015. So technically on the third year out of recession... which is interestingly how long my "high paying" employment history is...)
I think it's probably going to be at least a couple more years before a period of high unemployment.
Seems like critical resource shortages cause unemployment though (Food, oil, mortgages), and oil is the most unpredictable at this point in history. So, I can't predict that. Doesn't seem like there's oil shortages as of now.
Seems like opec embargoes and major middle eastern wars with major oil supplying countries are the primary causes for oil shortgages.
I wonder how much the Iraq war caused an oil shortgage on the markets, and had anything to do with the unemployment rate kicking upto 6% in 2002. I don't know exact figures, but I believe they did 3bln a day... or year... while the globe was doing 80... so the oil markets probably felt it.
-------------
And looking at Houston's unemployment rate curve, looks like it crossed 7% back in... Nov 2011.
So Houston has technically been out of the recession for about 6 full years now versus the nation's 3 full years.
Gives that guy's comment "I found a 50k comp sci job in Houston back in 2011 right after graduating" some context. His parents happened to live in the right state. In my city, recent grads were working for peanuts as volunteers for non-profit organizations. They didn't really start finding higher paying in-the-field jobs locally until 2015, and by higher paying, I mean something like 35-45k.