Wednesday, February 17, 2010
I was catching up on Dave Cohen's blog the other day, when I came across the amazing video above, which was put together by journalist Latoya Egwuekwe.
I have to say I was really surprised by the degree of geographical contagion displayed above. I would have thought the primary driver of unemployment was the credit crisis, and withdrawal of credit, and that would present a national signal which would affect all regions roughly in sync. However, it's abundantly clear that there are tremendously strong local effects in the economy: employment in each county is likely to remain fairly strong until the neighboring counties go down, so the whole recession spreads out from the initial areas of weakness.
I watched it over and over again, pausing and manually stepping it through the frames.