This morning, we got some great news. The U.S. economy added 236k jobs in February and the unemployment rate fell to 7.7 per cent.
Although the numbers were much better than economists’ expectations, they still reflect a job market that remains incredibly weak almost four years into the economic recovery.
Calculated Risk runs a chart every month putting the current jobs recovery into perspective.
“This shows the depth of the recent employment recession – worse than any other post-war recession – and the relatively slow recovery due to the lingering effects of the housing bust and financial crisis,” writes Bill McBride of Calculated Risk.
Photo: Calculated Risk
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