Jobs

Employment growth in the current recovery is the weakest of any recovery since World War II. This recovery is unique in that the economy took nearly four years to recover its pre-recession employment level. And since 2003, when the economy began adding new jobs, employment growth has been barely adequate to absorb new entrants into the labor force.

The unemployment rate is a relatively low 4.8 percent, significantly lower than the 6.3 percent peak in June 2003 and close to what many economists regard as full employment. But while the unemployment rate is relatively low, the proportion of Americans who are actually working is still below pre-recession levels. The relatively low unemployment rate reflects reduced entry into the labor market and is therefore not an unambiguous reflection of a strong labor market.

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