Saturday, March 10, 2012

Job Market Still Far From Recovered

From The New York Times Economix Blog, "Comparing Recessions and Recoveries: Job Changes" by Economix Editors:
Four years after employment peaked, scarcely one-third of the net loss in jobs has been reversed.
by the Labor Department’s count based on its survey of establishments, after shedding some 8.8 million jobs in about two years, the economy has generated about 3.45 million in the ensuing two years.
Source: Bureau of Labor Statistics. Chart by Amanda Cox. Via The New York Times
Horizontal axis shows months.Vertical axis shows the ratio of that month’s nonfarm payrolls to the nonfarm payrolls at the start of recession. Note: Because employment is a lagging indicator, the dates for these employment trends are not exactly synchronized with National Bureau of Economic Research’s official business cycle dates.

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