Is Job Market Really at its Worst?

Is Job Market Really at its Worst? »Play Video
YAKIMA -- President Obama has said we are living in the worst job market since WWII. He said at a news conference, "It will take months, even years, to renew our economy.”

Action News sat down with the people who have survived every recession since WWII.
From 1949, 1954, 1958, 1961, 1975 and 1982, they remember when job hunting was at its hardest.

Vivian Hubbarb said, "I had two dresses all through high school. One was being washed while the other was being worn."

Jim Ellinger explained his experience, "My father never turned anybody away that came to the door to split wood or do something, so that he could get some food. So they all went away with food!"

"There's no comparison! It was much worse back then," Hubbarb added.

A recent study agrees. A report by American Institute for Economic Research shows the percentage of recent jobs lost does not come close to the jobs lost in past recessions. To match the worst percentage job declines, we would have had to lose 7 million jobs to match the 1949 recession; 4.6 million jobs to match 1954's recession; 3.6 million jobs to match 1975's recession; and 3.7 million to match 1982's recession.

Ellinger says living through our failing job market now, it reminds him of when President Roosevelt took office. "Things were moving in this fashion you know. He created work, he created jobs and I think that's what Obama's trying to do similar to what president Roosevelt did," said Ellinger.

President Obama has a new plan for this new problem. The ones who have lived through all of them says they were able to get through them, and so can we.

The recent study also found the 1961 recession was the only year we had the same amount of jobs lost as we do now.