Obama’s Job Recovery Is Not Only Slower Than Past Recessions, It’s Completely Nonexistent

Sunday, August 14, 2016
By Paul Martin

by Tyler Durden
Aug 14, 2016

Goldman recently reviewed the recovery in unemployment rates during the past 10 recessionary periods since 1948. They seemed to take some comfort from the fact that unemployment rates had recovered back to 2007 levels, albeit over a slightly prolonged time period compared to previous recessions.

The decline of the unemployment rate to roughly its 2007 level provides a natural occasion to take stock of the recovery and ask whether the US economy has now fully shaken off any legacies of the crisis. There are certainly reasons to doubt that the economy is entirely back to normal, from the very low level of long-run interest rates to the fact that this recovery has been much more prolonged than the recoveries from other post-war US business cycles, as Exhibit 1 shows.

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