U.S. economy added 175,000 jobs in May. And the unemployment rate ticked up to 7.6 percent. Overall, the jobs report was better than expected. However, it continues to reflect a labor market that remains incredibly weak almost four years into the economic recovery. BUT …..
Calculated Risk runs a chart every month that puts the current jobs recovery into perspective.
“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,” writes Bill McBride of Calculated Risk.