Numbers
I wanted to take a moment and offer up some information in response to Enrico’s comment on the previous post. First, I was only comparing the current economy, employment rates and recent recession to the 30’s. I did not say it was the same, but similar. So let’s look at a little comparison in recovery years.
Assuming the job growth continues like that of October:
- the worst third year of a recovery since 1958
- the second-worst year, prior to this recession, of any of the first three years of a recovery since 1958
- with this pace of job growth, we would have experienced by far the slowest three-year recovery since the Great Depression
Let’s go another step further and look at some other facts.
- 8.8 million people are still unemployed.
- 1 in 4 of those unemployed have been so for more than a year. NO OTHER PERIOD this far into a recovery has maintain such a high long-term unemployment rate.
By saying similar, I did not mean to imply the same. If you would like more information on the numbers check out the Center for American Progress website.
11:00:27 AM 
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