In case you missed it, hiring fell a staggering 9 percent last month. The hidden secret is how bad hiring has been throughout the “recovery.”
Economists say the recovery started in July 2009 — but the jobs picture still looks more like a recession.
New hires not only fell during the recession, they’ve kept on falling during the “recovery” — something that isn’t supposed to happen.
The economy has added jobs for 20 months, but very slowly. The total number of jobs has grown by just 1 percent during the 36-month “recovery.” In all past recoveries since 1970, the average job growth in the first 36 months is 7 percent.
The story gets even worse when we look more closely at that small increase in jobs..
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