10 Charts Revealing America’s Miserable Job Situation
The textbook definition of a recession claims the Great Recession technically ended in the summer of 2009, after the economy stopped contracting and started to expand again. However, many Americans continue to feel the aftershocks of the worst financial crisis since the Great Depression as the labor market remains a sore spot for millions of households.
The Bureau of Labor Statistics recently reminded everyone that the so-called “jobs recovery” is sluggish at best. In March, the U.S. economy added 192,000 jobs. An additional 37,000 jobs appeared from revisions in the prior two months. The report is likely good enough to keep the Federal Reserve dialing down its bond purchases, but the results were worse-than-expected. Economists expected around 200,000 jobs to be added last month.
More jobs were lost in the recent recession than any other post-World War II downturn. Making matters worse, the quality of jobs that have been added to the economy in recent years are a serious concern. Here’s a a look at 10 charts showing the bigger jobs picture.