Today’s Job Loss Worse; Recovery Weaker

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The current job recovery is unlikely to last through the remainder of this year according to a study released on May 5 by the Center for American Progress. The study, entitled Current Job Recovery is Without Precedent in Post World War II Era, documents the difference between the economic downturn which began in April of 2001 and the eight other economic downturns during the post World War II era. It concludes the period of job loss was much longer than during any other downturn, the period of job creation much weaker and the cyclical economic forces that have brought about past economic recoveries have largely run their course are likely to place a downward pressure on employment growth before the end of the current calendar year.

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