Our earlier discussion about “Job Losses in Post WWII Recessions” raised a few questions about the extent and depth of the job loss in recessions relative to population and labor pool.
He is a completely different way to visualize this: How long it took each recession to recover to the prior jobs peak.
Post WWII Recession Job Recoveries (Months)
Are recessions taking longer to recover from? It certainly appears that way, at leatsd for the past 3 recessions. Each took longer to return to pre-recession employment levels than the prior contraction.
This version normalizes for the 2001 Outlier:
Thanks to Bill of Calculated Risk for whipping these us for us . . .