The guys over at Calculated Risk drew a very nice graph on Friday showing just how bad the job loss situation is getting in the US. The graph compares the peak month of employment and shines some light upon the effect the recession is having on the economy. Only yesterday I found myself watching an interesting documentary by Current tv arguing that the U.S. first exported HGH its jobs and has now exported its unemployment to China. Reliable Data from China is notoriously hard to come across, but the (little) anecdotal evidence seems to suggest that things might be worse there than in the U.S.
A tip of the hat to Rudi von Arnim for discussing the newly released U.S. unemployment figures.