This morning’s release of the June 2012 employment situation report by the Bureau of Labor Statistics marked three years since the official start
of the recovery from the Great Recession in June 2009. That makes this
a useful moment to assess how this recovery stacks up against earlier
ones, and to identify obvious policy measures that could ameliorate
glaring weaknesses in the current recovery.
The figure below shows that while jobs fell much further and faster during the Great Recession than in the previous two recessions (marked by the lines to the left of the zero point on the x-axis), job growth in the current recovery is similar to job growth by this point in the previous two recoveries, just slightly lagging job growth following the recession of 1990-91 and outpacing job growth following the recovery after the 2001 recession.[1]
Read more: http://www.epi.org/blog/years-recovery-state-local-austerity-hurt/
The figure below shows that while jobs fell much further and faster during the Great Recession than in the previous two recessions (marked by the lines to the left of the zero point on the x-axis), job growth in the current recovery is similar to job growth by this point in the previous two recoveries, just slightly lagging job growth following the recession of 1990-91 and outpacing job growth following the recovery after the 2001 recession.[1]
Read more: http://www.epi.org/blog/years-recovery-state-local-austerity-hurt/
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