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Fewer New Jobs Mean Higher Unemployment

Created on July 14, 2011

Fewer New Jobs Mean Higher Unemployment

Gross Job Gains and Losses

Layoffs spiked during the recession but returned to pre-recession levels by mid-2009. Job creation, however, failed to bounce back at the same rate and lags far below pre-recession levels.

Q3 2010

Q4 2007

Q4 2007: Last quarter before the recession

2010 2009 2008 2007 2006 2005 2004 2003 2002 2001

Source: U.S. Department of Labor, Bureau of Labor Statistics, “Business Employment Dynamics” / Haver Analytics.

Chart 1 • SR 96

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