More Thoughts on Job Creation in the Recovery

Having gotten a few e-mails I thought I would add a few more words on job growth in the recovery. There are a some basic facts on the growth and jobs story that I thought were not entirely clear in this NYT piece.

First, the basic problem is that growth has been extremely weak in this recovery. Annual growth has averaged just over 2.0 percent in this recovery. That is pathetic, it is below the underlying trend rate of growth, which is in the neighborhood of 2.4 percent. This means that the ec...