Coming Up For Air: October 2012 update

Once again, here’s the monster graph of postwar recessions, with data for the current recession update through to the September 2012 job numbers.  Its a mixed bag: On one hand, we are still a long way underwater, especially since the national jobs deficit is not just what it would take to get back to December 2007 levels, but the roughly 9 million jobs it would take to accommodate economic growth and new entrants to the labor force since 2007.  On the other hand, we have seen almost two years of steady–if not spectacular–job growth.

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