report Friday from the Bureau of Labor. That number on its own might not seem particularly notable as it lined up pretty well with economists' estimates.The U.S. economy added 217,000 jobs in May, according to a
However, the latest report marked a milestone for the economy: there
are now more jobs in the country than there were at the peak in early
2008, just before the recession took hold.
All in all, it took the U.S. economy nearly five years of recovery to
return to that level. That marks the longest rebound from any recession
since World War II, as you can see in this chart from Calculated Risk.
said, the U.S. economy is still millions of jobs short of what it would
have had if the recession had never happened and what it would need to
accommodate population growth. There are also still more than 3 million
people who have been unemployed for six months or longer.
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