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15 years ago

Almost 40% of small and midsize public biotechnology companies in the U.S. are in danger of running out of cash within a year and government help is needed to encourage investment, industry leaders say.

We’re at the most difficult time in the history of our industry,” says James Greenwood, chief executive of the Biotechnology Industry Organization.

15 years ago

So, unemployment got to 8.0%
So, unemployment got to 8.0% in oct 1993. Based on govt calculations at that time.(I wonder how much their methodology has changed since then?)

If the recession started in 1990, then that was three years into it. So if this recession started last year, where will we be in 2 more years??? And what if we calculated unemployment today, the same way they did back in 1993??

IMO and others, the govt is not credible for most stats. I think the important thing to take from this is that we are at such high levels of unemployment while being quite early in this contractionary period. Again, where will it be in 2 more years? That’s a long time to gather momentum.