You can click on the graph to show the full resolution. Its getting worse than previous recessions. One additional bit which you might notice is that by and large, as time goes on, the length of time it takes to get back to the previous top employment levels is stretching. In other words, this huge fall of unemployment which you are seeing can well take over another 2-3 years to recover. Can you imagine the repercussions? Think about the fact that the unemployment will still be lower and hurting when President Obama is going for re-election. I am going to hazard a guess that his re-election is not guaranteed, silver tongue orator notwithstanding. To get people to work in jobs, President Obama has to do something drastic but where is the fiscal firepower to actually fire a bigger gun? I suspect he will let the dollar depreciate, sod the status of reserve currency and let inflation help him out.
But whichever way you look at this, life is going to be fun.