Graph A Re-revisited

Suzie poses the question of whether or not this graphic is more meaningful with only recent data being plotted. But I find this graphic painting a quite clear picture: things are worse now and on a worse trajectory than in other recessions. But what is unclear is what the Y-axis truly represents. The data show absolute values (#s of jobs lost) but relative to a peak value. Without the viewer knowing (asking or being told [in defense of the Speaker maybe this is explained overtly elsewhere]) do we know what this peak is, how its value was is derived- what role does it play in framing the viewer's perspective.

Similarly, in making comparisons between different recessions(economic states) we need to ask whether adjusting for time-- (or perhaps even job-value as it contributes to the GDP. Maybe a significant percentage of jobs lost now, are fundamentally different than in recessions-past?) --would present a more accurate, valid, and as Suzie poses - better understanding of this particularly focused view of the world.