Good jobs numbers, still far to go
The new jobs report brings hope that that the economy is finally on a hot streak. But if you’re wondering why so many economists and analysts are reluctant to declare victory, have a look at this chart from the Economix blog showing how long it took in previous recessions to make up the jobs that were lost. So far we’re only made back one-third of the jobs lost during the Great Recession.
Things are indeed getting better. The problem is that the hole we’ve fallen into is so very, very deep.