After six years, the US economy got its jobs back
“The scariest jobs chart ever”, which Bill McBride at Calculated Risk has been updating month by month for years, is finally ready to be retired.
That’s right — with the 217,000 jobs added in May, the US economy is finally, finally back to the pre-recession employment level.
And yet, while US employment is technically at an all-time high, we’re still behind. While the US now has more jobs than before the recession, the population has grown a lot in the last six years, and the labor force participation rate is the lowest it has been since 1978.
Breathe a sigh of relief at this milestone, but know we still have a long way to go.