Post-Recession Job Growth in the USA

Using the jobs data reported by the U.S. Department of Labor on October 7, 2011, the folks at Chart of the Day produced a chart (copied below) comparing nonfarm payrolls following the the recession that ended officially in 2009 (solid red line) to that of the prior recession (2001-- dashed gold line) to that of the average post-recession jobs growth between 1954 and 2000 (dashed blue line). This chart highlights the fact that the current jobs recovery is much weaker than the average jobs recovery that followed economic downturns throughout the last half of the 20th Century. The chart also illustrates the fact that jobs growth since 2009 has been slightly stronger than it was following the recession of 2001. Unfortunately the rate of job growth has slowed since end of the first quarter of 2011.

 

 

 

 

 

 

 

 

A key question is why job growth following economic downturns has slowed since 2000 in recent years? This is a question that bears some examination by those of us interested in a sustainable economic recovery and the future of the USA.

H. Pike Oliver

Born and raised in the San Francisco Bay Area, H. Pike Oliver has worked on real estate development strategies and master-planned communities since the early 1970s, including nearly eight years at the Irvine Company. He resided in the City of Irvine for five years in the 1980s and nine years in the 1990s.

As the founder and sole proprietor of URBANEXUS, Oliver works on advancing equitable and sustainable real estate development and natural lands management. He is also an affiliate instructor at the Runstad Department of Real Estate at the University of Washington.

Early in his career, Oliver worked for public agencies, including the California Governor’s Office of Planning and Research where he was a principal contributor to An Urban Strategy for California. Prior to relocating to Seattle in 2013, Oliver taught real estate development at Cornell University and directed the undergraduate program in urban and regional studies. He is a member of the Urban Land Institute, the American Planning Association and a founder and emeritus member of the California Planning Roundtable.

Oliver is a graduate of the urban studies and planning program at San Francisco State University and earned a master’s degree in urban planning at UCLA.

https://urbanexus.com
Previous
Previous

Changes in the Price/Earnings Ratio of Stocks

Next
Next

Allison Arieff on Shifting the Suburban Paradigm