Here’s where we are, five years into the Obama “recovery” from the Panic of 2008:
- 4.1 million fewer full-time workers today than in November 2007
- 81% of workers are full-time now vs. 83% prerecession—and that per centage is of a smaller labor force than extant in 2007
- per CBO, employment at the end of 2013 was about 6 million jobs short of where it would be if the unemployment rate had returned to its prerecession level…”if the participation rate had risen to the level it would have attained without the current cyclical weakness”
Real wages have gone nowhere in this recovery:
And this graph of the performance of the Obama “recovery:”
This recovery is some 10 per centage points below the recoveries of the three prior…recessions.
If this sounds like a broken record, it’s because this “recovery” is a broken record.