Today’s jobs report was undoubtedly good news.
Not only did the headline number come in well above expectations, prior months were revised higher as well.
But you should make no mistake that things are still horrible.
Thus we bring you the updated chart from Calculated Risk, showing how this jobs collapse (and “recovery”) compares to past recessions.
As you can see, there’s just no comparison: This jobs crisis was WAY deeper than past ones, and while most of the others recovered in something resembling a “V,” this one is clearly more of an “L.”