Job Losses in recent recessions

To clarify, these are not projections. This is actual job-loss data.* Pelosi's office explains:

This chart compares the job loss so far in this recession to job losses in the 1990-1991 recession and the 2001 recession -- showing how dramatic and unprecedented the job loss over the last 13 months has been. Over the last 13 months, our economy has lost a total of 3.6 million jobs – and continuing job losses in the next few months are predicted.

By comparison, we lost a total of 1.6 million jobs in the 1990-1991 recession, before the economy began turning around and jobs began increasing; and we lost a total of 2.7 million jobs in the 2001 recession, before the economy began turning around and jobs began increasing.

*Pelosi's office says they used Bureau of Labor Statistics numbers.

The next time somebody comes to you and start telling you that the economy is starting to picks up, please show them this picture. The unemployment rate has NOT reached the bottom yet. As history shown, the unemployment rates need to plateau off before it can picks itself up again. Until that time, better start pinching every single pennies you can find.