Economic recovery is weakest since World War II

The recession that ended three years ago this summer has been followed by the feeblest economic recovery since World War II. In the ensuing decades, 10 U.S. recessions have occurred that were followed by a recovery that lasted at least three years. An Associated Press analysis released today shows that by just about any measure, the recovery that began in June 2009 is the weakest. The ugliness goes well beyond unemployment, which at 8.3% is the highest in history this long after a recession has officially ended. Economic growth has never been weaker in a postwar recovery. Consumer spending has never been so slack. Only once has job growth been slower. More than in any other post–World War II recovery, people who have jobs are hurting: Their paychecks have fallen behind inflation. In its analysis, the AP compared nine economic recoveries since the end of World War II that lasted at least three years. A 10th recovery that ran from 1945 to 1948 was not included because the statistics from that period aren’t comprehensive, although the available data show that hiring was robust. Read the full story and see the complete analysis here.