Quote:Is the United States in the middle of "the worst recovery from an economic recession since World War II"?
Conveniently, the Federal Reserve Bank of Minneapolis website has a tool that allows you to compare recessions back to 1948.
Here’s what the Fed’s site tells us.
This recovery is not the worst when it comes to jobs. The Federal Reserve measures the cumulative percentage gain in employment from the point when each recession ended and the recovery began.
During the recovery from the 2001 recession, employment didn’t crawl out of negative territory for about 28 months. By comparison, in the recovery following the 2007 recession, at the 21-month mark, the United States began adding jobs beyond the number that existed at the start of the recovery.
The following chart measures the jobs picture following every recession since World War II. The red line is the current recovery:
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Tara Sinclair is chief economist at Indeed and economics professor at George Washington University.
"We've just passed 61 months of consistent employment growth, and longer if you just look at private employment," Sinclair told PolitiFact. "On that metric, the recovery is the longest since WWII, so that hardly seems the worst. On the other hand, the recovery has been notably slow, and we are not back to the trend level of GDP or employment that we would have expected without the recession."
Sinclair added that even in terms of GDP it’s hard to call this the worst recovery because the country is emerging from what economists count as the deepest recession since World War II.
Seventy-six months from the start of the recovery, the economy today has produced a cumulative jobs gain of 8.9 percent. After 76 months in the recovery from the 2001 recession, the cumulative gain was 5.4 percent.
No, it isn't. Is the United States in the middle of
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