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Recovery from Current Recession Far Slower than Normal

Created on July 5, 2011

Recovery from Current Recession Far Slower than Normal

1980  –6.4% –5.0%

Percentage Change in Payroll Employment

RECESSION

Months Since Start of Recession

Payroll employment today is 5 percent lower than it was before the recession began 41 months ago. That places the current economic recovery far below all other recessions dating back to the 1960s.

Chart 1 •  WM 3307

heritage.org

1970 1981–1982 1973 1960–1961 1990–1991 2001 2008–2009

Source: U.S. Department of Labor, Bureau of Labor Statistics/Haver Analytics. Figures are for nonfarm payrolls and exclude temporary census workers.