Peter Coy is ordinarily a pretty good reporter, but he really misses the boat with this chart, with the comment, "this jobs recovery is weak, all right, but right in line with the past two recoveries."
When you evaluate the strength of a recovery, you also have to consider the depth of the downturn that preceded it. In the 1990-91 recession we lost 1.5 million jobs, in the 2001 recession we lost 1.6 million jobs. In the 2007-2009 recession we lost 7.5 million jobs.
The job loss in the downtu...
Published on May 05, 2012 05:43