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US / The Great Wage Recession And The Great Jobs Recession : Two Charts

As bad as the current job recovery has been — and it’s by far the weakest since World War II — the recovery in wages has been far worse. Capture d’écran 2013-03-01 à 07.51.54

Five years after the recession began in December 2007, total wages in the economy have yet to fully recover in real terms, Commerce Department data show. In other words, the wage recession continues.

By comparison, the longest previous post-war wage recession, which began with the 2001 downturn, was over in 2-1/2 years, even though that jobs recession lasted four years.

Chosen excerpts by Job Market Monitor 

 

Great Wage Recession

via Wage Recession Is Five Years Old, Worst Since World War II – Investors.com.

.

And The Great Jobs Recession 

The graph shows the job losses from the start of the employment recession, in percentage terms, compared to previous post WWII recessions. The dotted line is ex-Census hiring.

Capture d’écran 2013-03-01 à 07.57.49

This shows the depth of the recent employment recession – worse than any other post-war recession – and the relatively slow recovery due to the lingering effects of the housing bust and financial crisis.

Chosen excerpts by Job Market Monitor

Calculated Risk

via Calculated Risk: January Employment Report: 157,000 Jobs, 7.9% Unemployment Rate.

Discussion

2 thoughts on “US / The Great Wage Recession And The Great Jobs Recession : Two Charts

  1. Reblogged this on This Got My Attention and commented:
    Are you working for fewer peanuts than the average circus monkey? Unemployment remains high. But, the “wage recession” is even worse.

    Posted by Mike | March 1, 2013, 8:52 am
  2. Barry Obama and GW should be very proud of this graph. Give it a couple more years and everyone will be dependent on the government. Gotta love the Keynesians!

    Posted by Tim | December 28, 2013, 10:20 am

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