Jobs! The economy added 236,000 of them in February, which is good. And, as my colleague Derek Thompson points out, it added more construction jobs than at any time since March of 2007, which is even better. After all, housing is what makes recoveries go boom.
But let’s be honest. Even with our nascent housing recovery, the overall recovery is still leaving behind far too many for far too long. People looking for work for 6-months or longer — the long-term unemployed — jumped by 89,000 last month. It’s been three years since the labor market bottomed, but the long-term unemployment rate is still higher than it’s been at any point since 1948. Technically-speaking, we’re still in a deep hole.
Chosen excerpts by Job Market Monitor
via Forget the Good Jobs Report, Long-Term Unemployment Is Still Terrifying – Business – The Atlantic.
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