Recovery from Great Recession is weakest in recent history

August 15, 2012 at 6:39 pm 3 comments

The Associated Press has done an analysis comparing the recovery from the Great Recession of 2007 to 2009 to past economic recoveries. There have been 12 recession since the Great Depression, and the recovery from the most recent one is, not surprisingly, the weakest.

In looking at job creation, the current economic recovery has seen the second lowest change in jobs. The analysis examined there recoveries three years and one months after the end of the recession. The chart below shows the job change during these periods.

At the same time, government spending is down -4.5 percent, the lowest of any recovery period.

As we had blogged about before, for many people the persistent effects of the Great Recession– unemployment, poverty, loss of wealth and assets, etc–  are their reality. Many others, however, have been largely buffered from these economic hardships. The result is a disconnect between those in positions to enact change, and those who are suffering. That is the real hallmark of this recession and recovery.

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Entry filed under: Economic Development, Economy, Jobs & Employment. Tags: , , .

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