Dan Altman over at NYT does a nice job explaining the weakness in the present economic recovery:
Recession Is Over; Jobs Aren’t Trickling Down

You can get the full National Bureau of Economic Research report of the Business Cycle Dating Committee (PDF) here.

Here’s the most important chart in the report:
fig3.gif
(Source: Bureau of Labor Statistics, U.S. Department of Labor)

The dark line shows the movement of employment from May 2000 to the present and the shaded line the average over the previous 6 recessions. Note that in all previous post recession periods, employment started up immediately at the end of the recession. In the present environment, the US economy continues to shed jobs despite the general economic improvements.

Category: Finance

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

Comments are closed.