Post Credit Crisis Job Creation
Source: Oregon Office of Economic Analysis
Last week’s jobs report has returned the U.S. economy back to its peak pre-recession levels of employment. (there is a debate about the quality of jobs being created, but we shall save that conversation for another time).
As the Oregon Office of Economic Analysis reminds us, all financial crises are different, including the Great Recession.
I was as surprised as I suspect you will be to see the US recovery since 2009 has looked much better than many other financial crises. This was a faster recovery than Sweden (1991), Finland (1991), Norway (1987), Spain (1977) and United States (1929). Observers continue to wait out Japan (1992), which still has yet to regain its peak pre crisis employment levels.