[lbo-talk] jobs

Doug Henwood dhenwood at panix.com
Fri May 7 06:26:39 PDT 2004


John Lacny wrote:


>Simple question, I know: when did the recovery start? Two years ago, right?
>
>Is it true that this recovery took longer to produce substantial job
>gains than the last recovery, after the recession under the first
>Bush?
>
>What does this mean? Anything intelligible?

Yeah. Official date of trough was Nov 01. Jobs didn't turn positive for nearly two years, and seriosuly positive for more. That's roughly twice as long as the jobless recovery of the early 90s. The bubble that burst in the early 00s was also twice as big (figuratively speaking) as the one that burst in the early 90s.

Doug



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