2001-07: Weakest Post WW2 Recovery on Record

Saturday, August 30, 2008 | 12:30 PM

Floyd Norris' column in Saturday's NYT hits upon one of our favorite themes: That the 2001-07 recovery was one of, if not the, weakest recovery from a recession:

The view of this recovery as an unusually weak one can also be seen in all four economic indicators that make up the index of coincident indicators, a way that the health of the economy is measured. Three of them are adjusted for inflation — industrial production, personal income, and manufacturing and trade sales — while the fourth is the growth in the number of nonagricultural jobs.

All of those are measured from the official beginning of a recovery to the official end, which in some cases can be well before a particular indicator turns up.

The postrecession trends in employment show particular signs of having changed. Before the recovery that began in 1991, the number of jobs always hit bottom at about the time the recession ended. But it took 14 months after the 1990-’91 recession officially ended for the number of jobs to rise the level when the recession ended. After the 2001 economic low, it took 28 months for the number of jobs to match the end-of-recession total.

All  this and a ginormous chart, too:

200107_recovery_chart

Source:
Shallow Recessions, Shallow Recoveries
FLOYD NORRIS
NYT, August 29, 2008
http://www.nytimes.com/2008/08/30/business/economy/30charts.html

Saturday, August 30, 2008 | 12:30 PM | Permalink | Comments (26) | TrackBack (0)
de.li.cious add to de.li.cious | digg digg this! | technorati add to technorati | email email this post

bn-image

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d8341c52a953ef00e554e29c428834

Listed below are links to weblogs that reference 2001-07: Weakest Post WW2 Recovery on Record:

Comments

More fodder for the Democrats.

Posted by: DL | Aug 30, 2008 12:43:23 PM

The comments to this entry are closed.



Recent Posts

December 2008
Sun Mon Tue Wed Thu Fri Sat
  1 2 3 4 5 6
7 8 9 10 11 12 13
14 15 16 17 18 19 20
21 22 23 24 25 26 27
28 29 30 31      

Archives

Complete Archives List

Blogroll

Blogroll

Category Cloud

On the Nightstand

On the Nightstand

 Subscribe in a reader

Get The Big Picture!
Enter your email address:


Read our privacy policy

Essays & Effluvia

The Apprenticed Investor

Apprenticed Investor

About Me

About Me
email me

Favorite Posts

Tools and Feeds

AddThis Social Bookmark Button

Add to Google Reader or Homepage

Subscribe to The Big Picture

Powered by FeedBurner

Add to Technorati Favorites

FeedBurner


My Wishlist

Worth Perusing

Worth Perusing

mp3s Spinning

MP3s Spinning

My Photo

Disclaimer

Disclaimer

Odds & Ends

Site by Moxie Design Studios™

FeedBurner