Written by Chad Stone, the Chief Economist for the Center on Budget and Policy Priorities.
This month’s very disappointing employment report shows that two years after the technical end of the recession and after 16 straight months of private-sector job creation, the jobs deficit remains huge. The depth of the job losses from the recession is unprecedented since the Great Depression, and the length of time it will take just to get out of the jobs hole — much less to restore full employment — will dwarf that of the sluggish jobs recovery from the 2001 recession.
Here are some charts to show how the new figures look in historical context. Here is our statement with further analysis.
See our chart book for more charts.
Next page: Payroll employment growth has slowed sharply
This post was originally published by the Center on Budget and Policy Priorities.
Photo from Marxchivist via flickr.