Patrick Emerson PhD ,
Oregon Economics Blog
Yes, a very good jobs report and, yes, still some way to go. The US Unemployment rate dropped to 7% on the back of 203,000 new jobs created. There is not much to dislike about this report, only hope that we can finally sustain the momentum.
Still, this graph from The New York Times Economix blog shows how much we lost and how slow we have been to recover…and were aren’t there yet.
But even more interesting is the appearance our favorite state economist, Josh Lehner, makes again in the NYT blog for this fascinating graph which suggests that while our recovery might be slow compared to past US recessions, compared to other recoveries from crises, we are not doing too bad at all.