But today’s economy is different or is It?
Suwanee Ga Short Sales are here to Stay…The Great Depression versus Now ..Strategic Default versus Short Sale? Different or Same
The problem is that the damage done during the Great Recession was so severe, it will take a lot more growth than normal to dig the job market out of its hole. There were 8.4 million jobs lost in 2008 and 2009 — roughly 7% of all jobs at the start of the recession. That compares to a loss of 3.1% of all jobs during the 2001 recession and the jobless recovery that followed, and only 1.9% of jobs lost during and after the 1990-91 recession. And there are concerns about the fact that job growth has slowed dramatically from the spring of this year when employers were adding about 200,000 workers a month to payrolls. Even at that pace of hiring, it would take more than three years to get jobs back to pre-recession levels. Right now, it’s not even close. Overall payrolls, excluding the temporary boost from census jobs, have increased by an average of just 12,000 jobs a month over the last three months.
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- Jobless Benefits Claims Fall for Second Straight Week (foxnews.com)
- Unemployment claims drop for second straight week (dailycaller.com)
- Unemployment Claims Drop for Second Straight Week (abcnews.go.com)