Charting the dismal jobs picture

jobs.jpg This is an updated graph from Calculated Risk that shows job losses from the start of the employment recessions to the recovery stage. As you can see, the current upturn pales next to every other post-World War II recession - and it's even worse if you exclude the Census hiring. Meanwhile, much of the reaction to the June jobs report was negative. From the NYT:

"This economic recovery does not have enough momentum to sustain on its own without government help," said Sung Won Sohn, an economist at California State University, Channel Islands, and former chief economist at Wells Fargo. "It is a Catch-22 situation. Businesses are reluctant to hire for fear of a double-dip recession. Without jobs, the economy can't grow limiting job growth and spending."

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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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